Tax Center of Orange Coast

01/10/2020

Attention Small Business Owners -

Running your own business and doing all the accounting and paperwork can be stressful and overwhelming. We have been assisting small business owners with their accounting needs for over 50 years, helping them eliminate the accounting functions to leave them open to concentrate on the most important thing - running the business to make a profit.

If you are struggling to do it all give us a call.

12/24/2019

Another tax season is fast approaching. Some new changes for 2020 -

No federal penalty for not having health insurance for 2019. However, California has passed a law that they will charge a penalty for no health insurance coverage for 2020.

The medical deduction has been raised from 7.5% to 10% of Adjusted Gross Income. This will limit more of your medical expenses that can be claimed.

The Required Minimum Distribution on IRA’s/401K’s etc age has been increased from 70 ½ to 72. You can wait until the year you turn 72 to start drawing out the minimum distribution.

An inherited IRA/401k now has to be taken in full within 10 years. Beneficiaries can no longer take it over their lifetime unless you are the spouse.

We are available to answer your questions. We will begin booking appointments January 15, 2020.

HAPPY NEW YEAR!!!

11/27/2019

'Tis the beginning of another holiday season. Which means tax time is just around the corner and is a good time to do your tax planning for April. Give us a call to set up a free consulting appointment to review your income and expenses for 2019. Have a wonderful and safe holiday season.

11/04/2019

The end of the year is just around the corner, which means Tax Time is coming!!! Now is the time to look at your income for the year and project your tax liability. Give us a call for a free consultation.

08/08/2019

If you owed taxes for 2018 because the withholding tables were not sufficient due to tax law changes, you should make sure your withholding for 2019 is enough to cover your tax liability.

Fine-tuning your tax withholding can make the difference between owing the IRS next April or having a refund.

Call us for a free consult.

IR-2019-139, August 6, 2019 — The Internal Revenue Service today launched the new Tax Withholding Estimator, an expanded, mobile-friendly online tool designed to make it easier for everyone to have the right amount of tax withheld during the year.

07/16/2019

Are you aware that California has a State Mandated Retirement Plan? If you own a business and have 5 or more emloyees and do not offer an employer-sponsored retirement plan you must begin offering a retirement plan or provide your employees with access to CalSavers (state run retirement plan). The first deadline to register your employees with the CalSavers program is June 30, 2020. Have questions? Give us a call.

01/17/2019

The IRS will begin accepting individual tax returns on January 28th.

Stressing over your taxes? Our goal is to make your tax preparation as stress free as possible. Our staff understands and is sympathetic to the stress tax preparation causes people. Bring us your pile of paperwork and we will gladly sort through and organize it for you.

Call us now to book an appointment.

11/15/2018

If your company has predictable hiring patterns, it is a good idea to add QuickBooks training to your orientation process. The training we provide is fast, clear, and easy to understand, allowing your new hires to hit the ground running.

11/13/2018

One of the great advantages of Quickbooks software is the number of reports that you can easily and automatically generate to help keep track of your business’s status and progress. This includes everything from profit and loss to expenditure reports.

11/08/2018

What are just a few types of reports which can be quickly generated using QuickBooks services? Cash flow statements, payable agings, accounts receivables, profit and loss statements, and complete balance sheets.

11/06/2018

Handling payroll with QuickBooks will make your job much easier. Our support services will train your payroll specialists in how to quickly print checks or to set up direct deposit for those employees who prefer to use that method of payment.