Accounting News & Commentary
Receive Money through Zell Venmo or PayPal? Expect IRS Form 1099K
Form 1099K Issued to Many Unsuspecting Taxpayers
TAX FILING DEADLINE EXTENDED TO JUNE 17, 2024 FOR SAN DIEGO RESIDENTS
Due to the recent storm related disasters in San Diego County, the IRS and FTB have extended the filing AND payment deadlines for all taxpayers. This news is very similar to what happened last year. Individual, Business, Trust, and Non-Profit taxpayers now have until...
Seeking Arrangement, 1099 or W-2, Part One, The Worker
Should I be an Independent Contractor or an Employee? What's better? How do I choose? These questions arise (or the decision is made for you) when you start a new gig. For most workers, the answer is simple; you're an Employee. The good news about this arrangement...
TAX DEDUCTION FOR OFFICE IN THE HOME
Many people ask me if they can take a "home office" deduction on their tax returns and here's the answer. If you are a sole proprietor or landlord, you can take a deduction for using a portion of your home against your business earnings on your tax returns. If you are...
Late Changes to 2023 Tax Law will Benefit Families
There are late changes to the 2023 tax law which propose to help families who are filing their 2023 tax returns but the legislation hasn't become law yet. The Tax Relief for American Families and Workers Act is a retroactive tax law change that provides only two...
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