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Do I Have to File for Taxes if My Income is Low?

In the huge majority of cases, you don’t need to file a federal return if you have no income or if your income falls under IRS minimums. Exceptions do apply. For example, if you’re self-employed and have an income of at least $400, you need to pay taxes and file. The IRS adjusts the minimum [...]

What Are Tax Deductions?

Whether you do taxes solo or with the help of Encino tax advisors, it helps to understand terms such as adjusted gross income, credits, deductions, dependents, itemized deductions, standard deductions and much more. Here’s a look at tax deductions, which relate to several of these terms. Overview of Tax Deductions Tax deductions lower your taxable [...]

What Is Enterprise Zone Credit?

If you run a business in California, you may be wondering about Enterprise Zone Credits. These tax credits are special opportunities offered through the Enterprise Zone Program. Created in 1984, this program can be a lucrative draw for businesses. However, taking full advantage can be challenging. If you are running a business in Encino, California, [...]

How To File Taxes After Declaring Bankruptcy

When you’re mired in debt, bankruptcy may be the only solution. However, such a move can drastically affect your future finances, including tax filing. Taxes are complicated in the best situation, but filing after bankruptcy may require Los Angeles tax preparation services to ensure you’re meeting all your obligations. If you’re filing for the first [...]

5 Tips for Reducing Your Debt for the New Year!

For many people, the new year represents a clean slate. Reducing debt is a common resolution, but some people prefer to begin before the new year even rolls around. That way, they can tackle their fresh start with more gusto. Whichever camp you are in, these five tips from Los Angeles Accounting firms should help. [...]

New Year, New Taxes! Tax Tips for 2020

Tax time can be stressful, but your 2020 filings don’t have to be. With a few easy tips, doing your taxes can be painless and leave you with some extra cash. Here are five things Encino tax consultants recommend you do for 2020. 1. Get Assistance Taxes are complicated any year, but with the newest [...]

How To Reduce Your Taxes at the End of the Year

Who loves tax time? Even when you’re ready for it, it can feel like good old Uncle Sam is reaching in your back pocket when you’re not looking. Sure, taxes go to supporting necessary government programs, but losing hard-earned money is never easy. Therefore, Encino Tax Advisors suggest reducing your year-end tax bill by taking [...]

Is There a Sales Tax on Services?

When you run a business, you know you need to collect sales tax on the products you sell. However, you may be less certain about sales tax on services. This isn’t surprising because service sales tax is a lot more complicated. It may be helpful to look for Los Angeles tax preparation services to help [...]

How Does a Trust Work for Estate Planning?

Estate planning may sound like the sort of thing only super-wealthy people need to worry about. However, anyone who expects to leave any financial assets to their heirs when they die needs to seriously consider this. Many LA families could benefit from contacting a Los Angeles accounting firm for help. Read on to learn about [...]

What Is a Cash Flow Analysis?

If you are like many business owners and managers, you didn’t start your business to practice your accounting skills. In fact, many people running their businesses find themselves uncertain about how to properly handle and plan their finances. Have you heard of a cash flow analysis but are uncertain exactly what it is or how [...]

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