The new Tax Cut and Jobs Acts, also known as TCJA, has changed expensing, tax credits, deductions, and depreciation for business tax filers. There have also been recent changes that were designed to affect individual taxpayers that have had ramifications for how...
Finding Real Life Solutions To Your Tax Problem
Attorney Robert T. Leonard
Los Angeles Tax Law Blog
Do safe harbor provisions for an IRS payroll audit apply to you?
If the IRS determines that your contractors qualify as employees, your business could face fines and legal penalties. One way to avoid these penalties is qualifying for Section 530 relief, a "safe harbor" provision for employers of contractors. This "safe harbor" is a...
Know your rights during an IRS audit
Receiving notice that you have been selected for an Internal Revenue Service audit is not a cause for panic. You have rights as a taxpayer, even during an audit, and understanding those rights can help you better navigate the audit process.An IRS audit is an...
Employers may be eligible for new paid family leave tax credit
The 2017 Tax Cuts and Jobs Act created a credit for some employers, and the IRS has finally issued guidelines businesses can use to apply for this paid family leave credit.Businesses who paid family or medical leave to employees during 2018 and 2019 may qualify....
CROS: Is your business struggling with the new tax filing system?
"That's a distinction without a difference." You likely have heard that phrase before. What it aims to point out is a fault in someone's logic. Typically, it is evoked when a speaker tries to propose that two things are different when no difference actually...
Will CA Supreme Court ruling make it harder to hire contractors?
A recent ruling from the California Supreme Court will have business owners across the state questioning whether they need to re-classify independent contractors as employees. The ruling could have serious ramifications for employers and employees connected to the...
Handling An EDD Audit
When most people hear the term “audit,” they think of the IRS. They also think of a confusing process that can take months or years. In California, business owners need to be aware that an audit by the state Employment Development Department (EDD) can also...
Millennials and taxes: Avoid these three big mistakes
Taxes are complex. There is rarely a simple answer to a tax matter. However, one question often does have a simple answer: do I need to file taxes? Millennials are often struggle with this question. The wrong answer to this, and two other common errors, can cause...
Answer this before using online, do-it-yourself tax software
Frugality is often beneficial, but there are certain situations when a good deal ends up costing a lot more than expected in the long run. This can be the case when using a low cost, do-it-yourself tax software program. These programs are not always bad, some tax...
Will the new tax law lead to more tax scams?
Tax filers beware: scammers are working hard this tax season. Their attempts generally increase this time of year, as tax payers are putting together their filings. However, it is likely that fraudsters will find even more success this year as confusion over the new...