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Butler Enterprise Corp.

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United States
Compton, CA
Butler Enterprise Corp.

Butler Enterprise Corp. is licensed in CA and specializes in Accounting. We are professional, experienced, and affordable.

We offer a broad range of services for business owners, executives, and independent professionals.

08/29/2025

Many Americans seek to earn money by way of a side hustle, which sometimes starts as a hobby. Reminder: This income is taxable. Depending on whether the IRS considers the activity to be a business or a hobby, the tax treatment is very different. On their tax returns, businesses can generally deduct ordinary and necessary business expenses. But if the IRS deems an activity a hobby, deductions are much more limited. To determine if an activity is considered a business, the IRS looks at key factors. These include whether the taxpayer displays a profit motive, operates in a businesslike manner and keeps good records. To learn more, contact us at (310) 344-8968 with questions or visit the IRS: https://bit.ly/3VJi4BG

08/27/2025

Don’t let inherited retirement account rules catch you off guard! Most nonspouse beneficiaries must fully withdraw inherited IRA or 401(k) funds within 10 years if the original owner died after 2019. Depending on the situation, you may not have the option to wait and take a lump-sum distribution at the 10-year mark but instead be required to take annual required minimum distributions (RMDs). Not taking an RMD can trigger a penalty equal to 25% of the missed RMD. Could you be affected? Let’s review your circumstances together. Call us at (310) 344-8968.

08/26/2025

Expense reporting isn’t just paperwork; it’s key to controlling costs, ensuring accuracy and preventing fraud. Follow these six best practices for reimbursable expenses. Need help setting up your expense reporting system? Let’s talk. Contact us at (310) 344-8968.

08/25/2025

If you itemize deductions and your unreimbursed medical expenses exceed 7.5% of your adjusted gross income, you can deduct the amount exceeding that “floor.” But many people don’t itemize, and the floor can be difficult to exceed. Fortunately, there may be another way for you to save taxes in relation to health care costs: Contributing to an HSA or an FSA. Wondering how you can maximize your tax savings? Call us at (310) 344-8968.

08/22/2025

Distributions from IRAs before age 59½ are generally subject to income tax and a 10% penalty. But there are exceptions. For example, first-time homebuyers can withdraw $10,000 penalty-free, and adoptive parents can withdraw up to $5,000 to help pay adoption costs. Victims of federally declared disasters can withdraw up to $22,000, and victims of domestic violence can withdraw the lesser of $10,000 or 50% of an account balance. Also, you’re allowed one $1,000 “emergency” distribution annually to pay unexpected costs. For a complete list of exceptions that would enable you to take penalty-free early withdrawals from IRAs and 401(k)s: https://bit.ly/4c4JAyT. Questions? Contact us at (310) 344-8968.

08/20/2025

Proper payroll recordkeeping is critical for every business to ensure tax compliance and guard against litigation. Most companies must keep information regarding federal income, Social Security and Medicare taxes for at least four years after the due date of an employee’s personal income tax return for the year in which the payment was made. This is known as the “records-in-general” rule, and various data and documents fall under it. Contact us at (310) 344-8968 to schedule a review of your payroll recordkeeping processes today!

08/19/2025

Did you know the IRS can hold you PERSONALLY liable for the unpaid payroll taxes of your business? The Trust Fund Recovery Penalty (TFRP) targets business owners and responsible parties who willfully fail to remit payroll taxes withheld from employees. Even if the business is struggling, the IRS doesn’t take missed payments lightly. The financial consequences can be severe. If you've received a TFRP notice or are concerned about payroll tax compliance, don’t wait. We help you understand your rights and build a strong defense. Act now before penalties escalate. Contact us at (310) 344-8968.

08/18/2025

Knocked unsteady by recent stock market wobbles? If you’re in your 20s or 30s, your stock-heavy 401(k) plan portfolio likely has time to recover and grow, thanks to the power of compounding. If, on the other hand, you’re less than 10 years from retirement, consider allocating more to bonds and other less-volatile securities. We can help you build a resilient and effective portfolio that reflects your risk tolerance, investment goals and retirement plans. Contact us at (310) 344-8968.

08/15/2025

The IRS is warning of an increase in scams targeting older adults. These scams are designed to deceive or scare vulnerable individuals into paying fake penalties, ransoms or revealing personal information. Tactics range from bogus prize notifications to impersonating IRS agents, police or other government officials. Scammers typically make contact via phone, text or email, often with a false sense of urgency. As part of the World Elder Abuse Awareness Day, the IRS recently expanded its efforts to help seniors identify red flags and avoid becoming victims. Contact us at (310) 344-8968 if you’re unsure if a message is legitimate. To learn more about these threats and how to protect yourself or a loved one, visit the IRS here: https://bit.ly/3Xrj66J

08/13/2025

Having the right estate planning documents in place gives you peace of mind and provides clarity for your loved ones during difficult times. That should start with a will, which designates who receives your assets and who becomes guardian of your minor children. Without it, state law decides. Also, consider a financial power of attorney and a medical power of attorney. They authorize someone to handle financial matters on your behalf if you’re unable to do so and make medical decisions for you if you’re incapacitated. Contact us at (310) 344-8968 with questions.

08/12/2025

Do you use a vehicle for business purposes? You may be able to deduct related expenses using one of two methods: the standard mileage rate or the actual expense method. The standard mileage rate offers simplicity: You just multiply business miles driven by the IRS rate, which is 70 cents per mile in 2025. Prefer tracking every cost? Use the actual method to deduct gas, oil, maintenance, insurance and more. Choose the method that saves you the most time and money! Contact us at (310) 344-8968 to help decide what's best for your situation.

08/11/2025

The IRS generally follows strict collection processes but acknowledges that some people face real hardships. In such cases, the IRS may assign a tax debt to “currently not collectible” status until the debtor’s financial condition improves. While the debt remains unpaid, the total will continue to rise due to penalties and interest. Also, a federal tax lien may be filed, giving the government an interest in the individual’s assets. The IRS doesn’t grant this status lightly. It demands extensive financial proof, which can feel like an uphill climb. Contact us for help with tax debt at (310) 344-8968.

Address

Compton, CA
90220

Opening Hours

Monday	9am - 5pm
Tuesday	9am - 5pm
Wednesday	9am - 5pm
Thursday	9am - 5pm
Friday	9am - 5pm

Website

http://www.butlerenterprisecorp.com/

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