The IRS today released a new field line (line 30) on the 1040 form to allow eligible taxpayers to claim the Recovery Rebate Credit. To...

As the holiday season ends, the tax season begins. The start of tax season means that we must account for all tax documents and initiate...

The tax deadline of July 15, 2020 is fast approaching. While most folks look forward to getting a refund from the IRS; some folks have...

For taxpayers, choosing a right tax return preparer is essential. Unfortunately, many people do not give much thought to the task of...

Starting a business from the ground up is quite thrilling and requires substantial amount of work. Use this checklist as your general...

The title only includes small business because that is the focus of this post. However, bookkeeping is must for every business;...

Every business owner must fully understand the tax obligations of his or her business. In fact, taxation for business owners is quite...

In Doing Business as a Sole Proprietorship, we discussed a cost efficient alternative to a LLC formation. This post will focus on the...

In 2019, the State of California introduced the Young Child Tax Credit for California tax returns. In 2020, Californians can claim the...

Most, if not all, Americans either pay or know about the federal and state income tax. Yet, the word income as defined under Internal...

Starting a new business requires making difficult decisions and often without little guide such as deciding on the structure of a new...

Most taxpayers do not think that unpaid tax debt can lead to either revocation or cancellation of their Passport. The IRS has authority...

On March 27, 2020, the federal government passed the Coronavirus Aid, Relief, and Economic Security (Cares) Act (“the Act”). The Act...

The United States government passed, among other things, Paycheck Protection Program ("PPP") to aid small businesses to keep their...