5 Bookkeeping Resolutions To Keep in the New Year

No matter the size of your business, the right bookkeeping strategy prevents a wide range of headaches. It ensures you have the documentation necessary for tax season, helps avoid overspending, and provides peace of mind among numerous other benefits. If you’re still making your resolutions for the new year, review what your Encino tax consultants [...]

5 Tax Resolutions For the New Year

While doing your taxes probably isn’t your favorite thing, there are plenty of ways to make the process less complicated. If you’re still making resolutions for the new year, review those concerning your taxes. Your Los Angeles accounting service recommends these “resolutions” to streamline tax time.  Organize All Tax Documents Dedicate a file exclusively to [...]

4 Tips For Organizing Your Receipts

Receipts are a tax time essential because they provide proof of expenses. If past tax seasons have included searching frantically for old receipts, use this guide from your Los Angeles accounting service to organize this year’s receipts easily and efficiently.  Document Everything Related to Each Transaction Keep records of what the transaction entailed to simplify [...]

5 Tax Deductions For Teachers

If you are new to the teaching world, you might wonder what tax deductions apply to you. Allow your Encino tax consultants to shed light on what types of deductions you are entitled to as a teaching professional. You might be surprised and will delight in the extra money you’ll subsequently save on income taxes. [...]

4 Tax Deductions For Restaurant Owners

If you opened a restaurant in the past year, it’s important to know what tax deductions apply to you. Restaurant owners can claim numerous write-offs that reduce their income taxes, which is often especially important for new owners who have put a lot of money into their establishments. Review common deductions your Los Angeles accounting [...]

Is It Beneficial For Independent Contractors To Form LLCs?

Since independent contractors such as freelance writers and designers fill out 1099s every year, they are essentially their own businesses. If you are an established independent contractor considering whether or not to become a single member limited liability company (SMLLC), learn what benefits your Los Angeles accounting consultants want you to know about.  Offers Limited [...]

IRS Installment Agreement FAQ

The Internal Revenue Service allows taxpayers to pay what they owe in installments if they cannot accommodate income tax amounts in lump form. In light of COVID-19, the IRS has created the People First Initiative that “temporarily adjusted and suspended” its compliance programs. Take a moment to learn what your Encino tax consultants want you [...]

5 Tax Deductions Landlords Need To Know About

Since rent is a form of income, landlords aren’t exempt from taxes. If you are new to renting and aren’t sure which tax deductions apply, allow your Encino tax consultants to enlighten you. There are many deductions applicable to landlords that reduce income taxes.  Mortgage Interest Landlords can deduct the interest they pay on all [...]

5 Tax Deductions For Ecommerce Businesses

If you are a new ecommerce business owner, you might be wondering what tax breaks are available. Learn about deductions you do not want to miss, and remember that your Los Angeles accounting service is here to help with all of your tax preparation needs.  Fulfillment Costs The packing materials, tape, boxes, labels, and ink [...]

Paid Sick Leave Credit and Family Leave Credit FAQ

The spread of COVID-19 has resulted in the creation of many different tax credits, including the Paid Sick Leave Credit and Family Leave Credit. Take a moment to learn about this credit to determine if it applies to you. And remember, your Encino tax consultants can help you with all new, applicable tax credits so [...]