The California Minimum Essential Coverage mandate replaces the federal mandate which has been rescinded. Effective January 1, 2020, state law requires California residents to maintain qualifying health insurance all months of every year. This requirement applies to each resident, their spouse or domestic partner, and their dependents. Visit Covered California to: Shop for qualifying health… Read More

Each year tax professionals interview workers who believe they are self-employed but who are – according to the tax code – actually employees.  So, what are the differences between an Employee who receives form W2 and an Independent Contractor who receives form 1099-NEC?  In a nutshell, and greatly generalized:      If the employer has… Read More

The Internal Revenue Service (IRS) and your state Department of Revenue (DOR) use tax return information to locate individuals and business when notices are required to be mailed; if you move mid-year, an important and possibly adverse notice may be sent to an incorrect address.  You can notify tax authorities of new information by filing… Read More

For taxable years beginning on or after 01/01/09, individuals are required to use electronic payment (ePay) for taxes owed to California once they have met the Mandatory ePay Threshold by: making a single estimated tax or extension payment over $20,000, or filing an original return with a total tax liability for the year over $80,000.… Read More

Generally, the tax rate for taxpayers who qualify for Head of Household filing status is lower than that of Single or Married Filing Separate; in addition, the standard deduction is higher.  Together these favorable tax treatments mean you will likely owe less tax if you qualify for HOH filing status. HOH filing status can be… Read More

It may surprise you to learn that Franchise Tax Board is more like a ‘WHO’ rather than a ‘WHAT.’  The Board is comprised of three individuals, two of whom taxpayers in California have a voice in electing:  the Chairman of the Board of Equalization, the Director of Finance, and the State Controller as FTB Chair.… Read More

One of the most important things to remember in the field of taxation:  Education is the Key to Professional Success.  Not only is tax law complex at best, each year the law regarding taxation – adjustments, deductions, credits – are subject to change at the hand of legislatures. Networking is one way to expand your… Read More