Tax and Accounting Blog, San Diego

/Tax and Accounting Blog, San Diego/
14 02, 2019

Filing a 1099-MISC May Now Apply to Landlords. Are You Collecting the Needed W-9s?

By |2019-02-14T16:56:37+00:00February 14th, 2019|Categories: Uncategorized|0 Comments

Article Highlights: $600 ThresholdExceptionsForm W-9Impact of Tax Reform1099-MISC Filing If you use independent contractors to perform services for your business or your rental that is a trade or business, for each individual whom you pay $600 or more for the year, you are required to issue the service provider and the IRS a Form 1099-MISC [...]

8 02, 2019

Unforced Errors – The 8 Most Common IRS Tax Penalties and How to Avoid Them in 2019

By |2019-02-01T06:38:55+00:00February 8th, 2019|Categories: Uncategorized|0 Comments

You know the old line about the inevitability of death and taxes? It’s still true. What isn’t inevitable, however, is the need to pay penalties to the IRS. It happens, but it doesn’t have to, and the main reason that it does is because taxpayers don’t educate themselves about the rules. When you get hit [...]

5 02, 2019

How Does QuickBooks Online Handle Mobile Expenses?

By |2019-02-01T06:23:55+00:00February 5th, 2019|Categories: Uncategorized|0 Comments

If you purchase several items and services away from the office, QuickBooks Online can help you record them while you’re out and about. QuickBooks Online’s mobile app, available at the Apple App Store and Google Play, can do many of the same tasks that it performs on your office desktop. You can, for example: Check [...]

1 02, 2019

Increased Business-Vehicle Deductions Due to Tax Reform

By |2019-02-01T06:15:05+00:00February 1st, 2019|Categories: Uncategorized|0 Comments

Article Highlights: Annual MileageOptional (Standard) Mileage Method Actual-Expense MethodVehicle DepreciationLuxury-Vehicle LimitsSUVsInterest ExpensesBusiness-Vehicle Sales or Trade-insEmployeesPlug-in Electric Vehicle Credits TheTax Cuts and Jobs Act of 2018 and other tax reforms have brought about significant changes in the way that vehicle use is deducted for business purposes. Before getting into these changes, it is appropriate to first [...]

17 01, 2019

Tax Time Is Around the Corner! Are You Ready?

By |2019-01-17T18:03:27+00:00January 17th, 2019|Categories: Uncategorized|0 Comments

Article Highlights: Time to gather your information for your tax appointmentNew for 2018Choosing your alternativesTips for pulling your information together Tax time is just around the corner, and if you are like most taxpayers, you are finding yourself with the ominous chore of pulling together the records for your tax appointment. The difficultly of this [...]

4 01, 2019

Big Tax Changes for Divorce Decrees after 2018

By |2019-01-04T23:37:53+00:00January 4th, 2019|Categories: Uncategorized|0 Comments

Article Highlights: Pre-2019 AlimonyPost-2018 AlimonyDefinition of AlimonyAlimony and IRA ContributionsState Treatment of Alimony Welcome to 2019 and a delayed provision of the tax reform, also known as the Tax Cuts and Jobs Act (TCJA). For divorce agreements entered into after December 31, 2018, or pre-existing agreements that are modified after that date to expressly provide [...]

8 11, 2018

5 Reasons to Amend a Previously Filed Tax Return

By |2018-10-18T15:56:29+00:00November 8th, 2018|Categories: Uncategorized|0 Comments

The most recent data from the IRS on individual tax returns indicates that of 131 million returns filed, about 5 million were expected to be amended. This comes to less than 4 percent, but that projection still affects a significant number of taxpayers. Filing an amended tax return can be a hassle that you definitely want [...]

5 11, 2018

Tax Reform Enables Deferral of Taxable Gains Into Investments in Opportunity Zones

By |2018-10-18T15:53:16+00:00November 5th, 2018|Categories: Uncategorized|0 Comments

Article Highlights: Tax Cuts and Jobs Act Reinvested Gains Enhanced Basis Qualified Opportunity Funds Partnerships Qualified Opportunity Zones   Those who have a large taxable gain from the sale of a stock, asset, or business and who would like to defer that gain with the possibility of excluding some of it from taxation should investigate [...]

1 11, 2018

Medical Insurance and Taxes

By |2018-10-18T15:51:29+00:00November 1st, 2018|Categories: Uncategorized|0 Comments

Article Highlights   Uninsured Penalty Employer Plans Health Reimbursement Plans Self-Employed Health Insurance Deduction Itemized Deductions Deductible Medical Insurance The Affordable Care Act (ACA) imposed significant penalties on taxpayers and their families who do not have ACA-compliant health insurance. Even though the tax reform removed these penalties after 2018, they still apply for this year [...]

29 10, 2018

Tax Reform Dealt Teachers a Raw Deal

By |2018-10-18T15:46:48+00:00October 29th, 2018|Categories: Uncategorized|0 Comments

Article Highlights:   $250 Above-the-Line Teachers’ Deduction Eligibility for the $250 Deduction Tax Benefit Deduction Option Charitable Option It is quite common for teachers to spend their own money on classroom supplies – so common, in fact, that a few years back, Congress created a special deduction that allowed teachers to deduct up to $250 [...]