Ronald S. Richard, CPA, Inc.

03/20/2020

The filing deadline remains April 15.

March 18, 2020 - The Treasury Department and the Internal Revenue Service are providing special payment relief to individuals and businesses in response to the COVID-19 Outbreak.

03/17/2020

https://www.fool.com/taxes/2020/03/17/good-news-us-tax-filing-deadline-extended-due-to-c.aspx

Taxpayers are getting an extra three months to pay the IRS due to COVID-19 upheaval.

08/19/2019

More than 68 million people claimed Social Security, Supplemental Security Income, or both, as of June.

01/30/2019

https://www.forbes.com/sites/financialfinesse/2018/05/20/should-you-use-your-retirement-savings-to-buy-a-home/

Coming up with a $50k down payment on a $250k home may take several years of aggressive saving, but your retirement account may not be a bad place to go for the additional funds needed to get you on the path to home ownership.

01/22/2019

Do you need to file 1099’s? I can help.

01/14/2019

As you know, the President signed the TCJA, Tax Cuts and Jobs Act. California does not conform to many of these new rules. You still have to calculate CA tax under the old tax law. Here are some provisions that do not conform:
Tax brackets, educator expenses, moving expenses, alimony, standard deduction, itemized deductions, capital gains, kiddie tax and NOL’s just to name a few.
Simplification was an objective for the TCJA, however California’s non conformity keeps tax preparation just as complicated as it was before TCJA.
-Ron

01/14/2019

A business client received a call from “Edison” stating their bill was past due and Edison will shut off the electricity if it wasn’t paid with a minimum payment of $500. The client has a great accounting system and thought this was weird. Sure enough, they confirmed payment was not delinquent and deemed the phone call a scam.

Please be careful.

01/14/2019

The new Tax Cuts and Jobs Act could provide a lot of relief to small business owners with a new 20 percent deduction, but the 199A deduction comes with lots of hurdles that can require significant planning. Lack of awareness and planning could cause many to miss out on this tax benefit in 2018.

01/14/2019

https://www.forbes.com/sites/jamiehopkins/2018/07/24/new-tax-deduction-199a-will-be-lost-for-many-in-2018/

The new Tax Cuts and Jobs Act could provide a lot of relief to small business owners with a new 20 percent deduction, but the 199A deduction comes with lots of hurdles that can require significant planning. Lack of awareness and planning could cause many to miss out on this tax benefit in 2018.

01/03/2019

Here are some tax rules that have changed from last year’s filing season. These will affect everyone in one way or another.

Tax deductions for homeowners have changed. If you're used to claiming a mortgage interest deduction, tax changes for 2019 (tax year 2018) may have a big effect on you. HouseLogic tells what the new federal tax laws will mean for you.