Tax Payments Delay – 90 Days Due to Coronavirus
Delay the April 15 tax payment deadline by 90 days Treasury Secretary Steven Mnuchin: Now, let me just be clear on the specifics: We encourage those Americans who can file their taxes to continue...
Accounting Portal Articles
Tax Relief for California Taxpayers Affected by the COVID-19
The Franchise Tax Board (FTB) announced special tax relief for California taxpayers affected by the COVID-19 pandemic. Affected taxpayers are granted an extension to file 2019 California tax returns and make certain payments until...
2019 California Tax Calculator
2019 California Income Tax Calulator Select your filing status Select your filing status Single Married/RDP filing jointly Married/RDP filing separately Head of Household Qualifying widow(er) with dependent child Enter your California Taxable Income from...
California State Minimum Wage Increases
Although there are some exceptions, almost all employees in California must be paid the minimum wage as required by state law. Effective January 1, 2017, the minimum wage for all industries will be increased...
IRS 2020 Standard Mileage Rates – Notice 2020-05
SECTION 1. PURPOSE This notice provides the optional 2020 standard mileage rates for taxpayers to use in computing the deductible costs of operating an automobile for business, charitable, medical, or moving expense purposes. This...
IRS Rules for Using a Per Diem Rates – TCJA
26 CFR 601.105: Examination of returns and claims for refund, credit, or abatement; determination of correct tax liability. (Also: Part I, §§ 62, 67, 162, 267, 274; 1.62-2, 1.162-17, 1.267(a)-1, 1.274-5, 1.274-5T.) Rev. Proc....
IRS Standard Mileage Rates 2020
Beginning on January 1, 2020, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 57.5 cents per mile driven for business use, down one half...
What is Depreciation?
Depreciation is an income tax deduction that allows a taxpayer to recover the cost or other basis of certain property. It is an annual allowance for the wear and tear, deterioration, or obsolescence of...
Business Travel Per Diem Rates for 2020
2019-2020 Special Per Diem Rates – Business Travel Per Diem Rates Notice 2019-55 SECTION 1. PURPOSE This annual notice provides the 2019-2020 special per diem rates for taxpayers to use in substantiating the amount...
California Cannabis Industry Payroll Tax Reporting
California businesses that hire employees to perform services are required by law to withhold, report, and pay payroll taxes to the EDD. Cannabis businesses include distributors, transporters, and dispensaries and includes employees, such as...
Form IT-2104.1: New York State, City of New York, and City of Yonkers Certificate of Nonresidence and Allocation of Withholding Tax
Form IT-2104.1, New York State, City of New York, and City of Yonkers Certificate of Nonresidence and Allocation of Withholding Tax. Resident and nonresident defined To determine whether or not you are a resident...
Covered California for Small Business
To be eligible to participate in CCSB, you must indicate that your business or organization meets all of these qualifications: • Have a primary business address in California, or offer coverage to each eligible...
California Form 1095-A
Your Form 1095-A shows the amount the Internal Revenue Service (IRS) paid to your insurance company to lower the cost of your health coverage. The amount paid was based on the most recent household...
IRS Audits by Country
ProPublica posts article about countries with highest IRS audit rates. You can read it here. Study shows countries in which income tax filings were audited at a higher rate than the nation as a...
Form 990 – Return of Organization Exempt from Income Tax
Form 990 Instructions for Form 990 (HTML) Forms 990 and 990-EZ are used by tax-exempt organizations, nonexempt charitable trusts, and section 527 political organizations to provide the IRS with the information required by section...
2020 Withholding Calculator (IRS)
Click here to enter 2020 IRS Withholding Calculator This calculator have five steps . First you have to enter what filing status will you use on your 2020 Income Tax Return: will it be...
2019 IRS Standard Mileage Rate Reimbursement
Beginning on Jan. 1, 2019, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 58 cents per mile driven for business use 20 cents per...
California State Individual Health Care Mandate 2020
The State of California is working to reduce the number of uninsured families with the adoption of a new state individual health care mandate. The mandate, which takes effect on January 1, 2020, requires...
California: Mandatory E-file and E-pay for All Employers
All employers are required to electronically submit employment tax returns, wage reports, and payroll tax deposits to the Employment Development Department. Penalties for noncompliance will be charged starting January 1, 2019. You can use...
What Is VAT On Digital Services?
VAT (value added tax) is a tax that is added on top to of price of goods and services in European Union. Even if you as a seller are from outside European Union you...