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Can You Deduct Your 401k Savings From Your Taxes?

Are you looking for ways to reduce your tax liability this year? If so, you may think deducting your 401(k) contributions is a possible solution. However, as your Encino tax consultants will tell you, you cannot deduct contributions to your 401(k) plan from your income tax returns. Fortunately, your retirement plan still offers tax benefits [...]

What To Do If You Can’t Pay Your Taxes

Of all the seasons, the one people like the least is tax season. Paying taxes may be painful, but not doing so can result in even worse penalties. However, what if you can’t pay your taxes? Maybe you can only pay a portion, or maybe you don’t have any of the money at all. Here’s [...]

The Difference Between a Tax Deduction and a Tax Credit

Filing your income taxes every year can feel like a complex quest to reduce the amount you owe. The rules can seem complicated, which is why you may choose to pay for Los Angeles tax preparation services. Depending on your unique circumstances, you could be eligible for a variety of tax credits and/or tax deductions. [...]

Why is My Tax Return So Low?

Many people look forward to doing taxes because they always get a good refund. If you’re one of these people, it can be confusing and disappointing to discover that your refund is lower than usual this year. Even worse, you may unexpectedly find out that you actually owe more money in taxes. Your Encino tax [...]

What You Need To Know About Tax Extenders

Recently, Congress enacted some new tax extenders, which might benefit you when you file your 2017 taxes. Therefore, before filing your tax returns for 2017, you might want to take a look or talk with your tax advisors to see what extenders might benefit you. Even if you have already filed, it might not be [...]

How to Claim Medical Tax Deductions

When it comes time to file your tax return, it is to your benefit to know the best way to claim deductions and credits to minimize your tax liability. You can claim certain expenses on your taxes as a tax deduction, but there tends to be a certain amount that you must spend before it [...]

How to Avoid Getting Audited

In 2016, just over 1 million taxpayers underwent an audit, which is just a 0.7 percent tax return audit rate. This rate is the lowest it has been in more than a decade, but that does not mean that you are completely in the clear. If you do not want to receive an audit notice, [...]

2 Reasons Why You Should Use the New Tax Withholding Tool

When April rolls around, millions of Americans scramble to their tax advisors in an effort to avoid owing additional money to federal and state governments. One way to make sure you’ve paid appropriate taxes throughout the course of the year is to adjust the amount withheld from each paycheck by your employer. With recent policy [...]

Financial Planning Tips for New and Expectant Parents

The arrival of a new baby can be an exciting time for any family, but there are some steps you should take to be a responsible parent. While you can make relationships with medical professionals to arrange proper care of your son or daughter, you shouldn’t let your financial health suffer. By doing some careful [...]

How to Check Your Refund Status

If you’re one of the fortunate people who are owed a refund from taxes paid the previous year, the wait can feel like an eternity. While you can use direct deposit and electronic filing to expedite your payment, it will still take some time for the IRS to process your claim. No matter if you [...]

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