Tax Planning
When is a tax return not a tax return?
For most taxpayers, the tax year is a calendar year ending on December 31st. The tax return due date is the 15th day of the fourth month following the end of the tax year, or April 15th. Sometimes holidays affect that date, so it may be extended by one or more days, but generally it…
Can your IRA or Qualified Retirement Savings be Levyed?
What is a lien or a levy? When the IRS sends a notice of lien, they are announcing their intent to claim your assets due to a tax debt. This declaration is intended to protect their interest against other potential creditors who may also make a claim. At this stage, a taxpayer receives a notice…
Tax Planning Tips for Small Businesses in California
Running a small business in California offers exciting opportunities, but it also comes with a unique set of tax challenges. The state’s complex tax code, coupled with federal requirements, can be overwhelming for entrepreneurs. Effective tax planning is essential not only to maintain compliance but also to maximize your financial outcomes. With over 35 years…