2024 CTA Fall-Winter NewsletterDownload Hello all! Happy fall and hello winter! Bundle up and enjoy our end of the year newsletter. We include some information about upcoming changes to our business, tips for prepping for the upcoming season and some tidbits about the holidays and our staff!
November 12 - Report Tips to EmployerIf you are an employee who works for tips and received more than $20 in tips during October 2024, you are required to report them to your employer on IRS Form 4070 no later than November 12. Your employer is required to withhold FICA taxes and income tax withholding [...]
As business owners barrel toward the quarter-century mark of the 21st century, so, too, do the tools we use to manage our finances. Recently, Intuit announced significant changes to its QuickBooks Desktop offerings, signaling a shift toward more innovative, cloud-based solutions. According to the brand, “After May 31, 2025, your QuickBooks Desktop 2022 software will [...]
Another successful fishing trip this year. Our team got up nice and early once again and set out for the Coronado Islands, south of the border in Mexican waters. The sun showed up and so did the fish, with our catch count grand totaling to 3 California Yellowtail, 4 Bluefin Tuna, 55 Ocean Whitefish, 4 [...]
In the wake of the COVID-19 pandemic, the Employee Retention Credit (ERC) emerged as a vital financial lifeline for businesses. However, as the IRS intensifies its scrutiny of ERC claims, it has unveiled five new warning signs that businesses must heed to avoid costly mistakes. Understanding these red flags is crucial for maintaining compliance and [...]
Article Highlights: Equitable Ownership Who Qualifies as an Equitable Owner? Tax Implications of Being an Equitable Owner Mortgage Interest Deduction Property Tax Deduction Examples of Equitable Ownership Examples Where Taxpayers Were Not Equitable Owners Equitable ownership refers to the situation where an individual possesses the benefits and burdens of ownership of a property, even though [...]
September 1 - 2024 Fall and 2025 Tax Planning Tax Planning Contact this office to schedule a consultation appointment.September 10 - Report Tips to EmployerIf you are an employee who works for tips and received more than $20 in tips during August, you are required to report them to your employer on IRS Form 4070 no later [...]
August 2024 Individual Due Dates August 12 - Report Tips to EmployerIf you are an employee who works for tips and received more than $20 in tips during July, you are required to report them to your employer on IRS Form 4070 no later than August 12. Your employer is required to withhold FICA taxes [...]
2024-CTA-Summer-Newsletter-2Download
In 2021, Congress passed The Corporate Transparency Act into law to create a national database of information concerning the individuals who, directly or indirectly, own a substantial interest in, or hold substantial control over certain domestic and foreign legal entities. The purpose of the law is to combat money laundering and the concealment of illicit [...]
