The 3 Most Common Tax Preparation Scams You Need to Avoid

Are you aware of these common tax preparation scams? As if it’s not bad enough you might owe the IRS money, scammers who conduct tax preparation scams are looking to take advantage of you. They want your refund and possibly even your personal information. It’s important to know the signs of a dishonest tax preparation practice. Here are three common tax preparation scams to watch out
Read More

Categories: Sacramento Personal Taxes.

Tax and Advisory Services for Families with Children

We have been preparing tax returns for thirty years, but we’re much more than tax preparers. Our advisory services encompass the BIG picture to protect our clients through all phases of life. Transitional events, like marriage, building a family, including foster and adoption, divorce, starting a business, aging and death all come with new complexities. Our role is to help our clients have the best
Read More

Categories: Sacramento Personal Taxes.

The Ugly Truth: Charitable Deductions Denied For Someone Else’s Mistake

If you were audited by the IRS, do you think they would be fair to you? Many people believe that if they have receipts and can prove their deductions, the IRS will accept it. That may have been true years ago, but today’s IRS is ruthless. This court case is proof of that. The Story David and Veronda Durden gave money to their church on
Read More

Categories: IRS PROBLEMS and Sacramento Personal Taxes.

Tax Software Revisited – The Pros and Cons of Doing It Yourself

Facts: Tax Software Is Cheap. You Get What You Pay For. Tax software is marketed beautifully. TV ads show customers just pushing a button on a smart phone to reduce their taxes. With an IRS code of over 74,000 pages, the idea of tax simplicity is utterly seductive. Tax software is also cheap. It is also a lot quicker answering their fundamental questions than to
Read More

Categories: Sacramento Personal Taxes.

The Ugly Truth About Changing Tax Brackets

As your income increases, what happens to tax brackets and the percentage the IRS takes? As your income rises, you move into a higher and higher tax brackets and pay a larger percentage of your income in taxes. This system is the progressive taxation design of our U.S. tax system. Today, the tax code has seven separate tax brackets, ranging from the lowest bracket of
Read More

Categories: Sacramento Personal Taxes.

IRS Audits of Employee Business Expenses

The IRS is auditing more people who deduct employee business expenses.  If you work for someone and deduct work expenses, then this report is for you.   If you are called in for an audit, do you know how to defend yourself?  Many people go into an IRS audit with confidence, believing that their receipts will allow their tax deductions.  But when the auditor is
Read More

Categories: IRS PROBLEMS and Sacramento Personal Taxes.

Simpler Tax Reporting – Is It Right For You?

The Simpler Tax System—is it Right for You?    Many people are frustrated with the complexity of the Tax Code and want it to be simpler. Their reasoning goes something like this: “I am a business owner, not a junior accountant, why do I have to keep all of these records. Why can’t it be simpler?”   Well, the government understands your frustration and is
Read More

Categories: Sacramento Personal Taxes and SMALL BUSINESS ADVISORY.

Obamacare & Personal Taxes

Obamacare and Your Personal Tax Return   Although the Obama administration delayed the employer mandate to 2015 (firms with 50 or more full-time employees must provide affordable health insurance to workers or pay a stiff fine) the individual mandate’s start date wasn’t deferred.   Beginning January 1, everyone without health insurance for themselves and their dependents will owe a tax penalty if they fail to
Read More

Categories: Sacramento Personal Taxes.

10 Audit Tricks the IRS Uses Against You

10 IRS Audit Tricks to Take MORE from You   The IRS has become more aggressive in collecting taxes and has implemented new methods to balance the federal deficit from your pocketbook, including:   More automated Notices (many of them are wrong) The IRS Automated Under-Reporter Program has been very effective in collecting taxes. In 2011 it collected an additional $1,670 per CP2000 letter without
Read More

Categories: IRS PROBLEMS and Sacramento Personal Taxes.