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Tips For Separating Your Personal Finances From Your Business

Separating your personal finances from your business is necessary no matter the size of your company. Even if it is only you and a few friends working out of your garage, keeping personal and business finances separate avoids a slew of unpleasant complications of the tax and legal kind. Use the following tips from the [...]

Top 3 Ways To Build Your Business Credit

Good credit is essential to many things, including your success in business. It provides you with access to the capital you need, helps you when economic times are tough, makes researching and designing new products and services easier, and otherwise promotes credibility. If your business credit could use some improvement, review what the team at [...]

Home Office Deductions: What You Need to Know

In May of this year, the Internal Revenue Service (IRS) reminded taxpayers who work from home of two possibilities for claiming home office deductions. The agency notes this deduction is frequently forgotten about by small business owners. Review the following information from the IRS about these options to help yourself during next tax season. “Regular” [...]

Tips for Avoiding IRS Scams

IRS scams are unfortunately more commonplace than you think and unsurprisingly occur the most during tax season. Help yourself avoid them with the following tips from the Internal Revenue Agency and your Los Angeles tax consultants. How The IRS Communicates The IRS mainly communicates with taxpayers via regular mail delivered by the United States Postal [...]

Gift Tax FAQs

Gift tax is defined as tax on a person who gives money or property to another individual. The IRS describes a gift as “any transfer to an individual, either directly or indirectly, where full consideration (measured in money or money’s worth) is not received in return.” If you plan on giving a friend or family [...]

Donald Trump’s Proposed Tax Plan: Estate Plan Edition

Donald Trump has proposed a tax plan based on four — rather than seven — tax brackets. Individual tax rates currently have a ceiling and floor of 39.6 and 10 percent, respectively. Learn about this plan in terms of estate tax before reviewing your options with your Los Angeles tax consultant. Elimination Of Alternative Minimum [...]

How To Prepare For An Audit

The word “audit” causes even the calmest person to have a moment of panic. If you are in the process of being audited, use the following tips from your Los Angeles tax advisors to ensure everything is as streamlined and seamless as possible. Delay The Audit Request a delay if you do not have all [...]

Estate Sale Buying Tips

Estate sales are defined as large home sales that typically occur when someone passes away or moves. If you are preparing to attend an upcoming estate sale, keep the following tips in mind before setting foot on the property. They will help you ensure what you want is what you walk away with. Attend The [...]

Short Sale Buying Tips: What You Need to Know

A short sale is defined as a real estate sale where the proceeds are less than the lien or liens against the property. The lien holders must agree to accept less money as debt payment for the sale to go through. If you have your eye on a short sale property, review the following tips [...]

Missed The Tax Deadline? 3 Important Reasons to File Now

Missing the April 18th tax deadline can occur for any number of reasons, including those as simple as getting the date wrong. No matter your reason, it is important to file as soon as possible. Doing so sidesteps a number of issues and provides several benefits. Review three reasons to work with your Los Angeles [...]

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