What to Do If You Receive Notice Of A Tax Audit

Posted on January 12, 2021January 20, 2021 by Liz Prehn Posted in Tax Planning & Compliance

It’s every taxpayer’s nightmare—receiving a tax audit notice from the IRS. If you’re among the less than 1% of filers who receive a tax audit letter each year, don’t panic. An audit notice doesn’t mean you’re being accused of a crime or that you owe additional tax. There are many...

I Missed the Tax Filing Deadline – Now What?

Posted on December 17, 2020January 5, 2021 by Liz Prehn Posted in Estate Planning & Taxation, Tax Planning & Compliance

This year has been incredibly uncertain in many personal and financial aspects, and many people missed the tax filing deadline and payments. The most important thing to do is to have your tax return(s) prepared and filed as soon as possible. This is because not only is it unlawful not...

Amend or Not to Amend Your Tax Return?

Posted on December 8, 2020December 17, 2020 by Liz Prehn Posted in Tax Planning & Compliance, Tax Services

Is it always a good idea to amend your tax return if you find an error? There's usually an element of relief after your annual tax return has been filed. But what do you do if you find an error on your tax return? Should you always file an amended...

Please Join Us for a Free Retirement Planning Webinar

Posted on December 2, 2020December 17, 2020 by Liz Prehn Posted in Webinar, Tax Planning & Compliance, Tax Services

We’re writing to invite you to a free Zoom webinar about pension and benefit planning for business owners. Steve Moskowitz and Stephen Dobrow will discuss the tax incentives of the 24 available retirement plans, new legislation governing those plans, and creative reward programs. Stick around for a Q&A session after...

6 End of Year Tax Accounting & Planning Considerations for Businesses

Posted on November 30, 2020January 7, 2021 by Liz Prehn Posted in Tax Planning & Compliance

Businesses have unique opportunities to lower tax burdens for themselves and their owners/shareholders. The end of the calendar year is the perfect time to look forward and to make plans to meet your business goals. 6 End of Year Tax Planning Considerations for Businesses: Did You Place Qualified Improvement Property...

California’s “Exit Tax” Explained

Posted on November 24, 2020January 13, 2021 by Liz Prehn Posted in State & Local Taxation, Tax Planning & Compliance

California is in the midst of a significant overhaul of its tax code, and there’s one bill in particular that has lots of people talking. Assembly Bill 2088 (AB 2088), which was introduced in Sacramento in August of 2020, would impose the state’s first wealth tax. And more controversially, it...

November Tax Planning News From Moskowitz LLP

Posted on November 17, 2020January 13, 2021 by moskowitz Posted in Tax Planning & Compliance

Section 1: Tax Planning Section 2: PPP Loans for $50,000 or less Section 3: Donating Stock to Charities Section 4: Retirement Savings for Small Business Owners Tax Planning ‘Failing to Plan is Planning to Fail’ ~ Benjamin Franklin Franklin also wrote that “nothing is certain but death and taxes.” He...

Common Types of Business Structures: Why They Matter

Posted on November 17, 2020November 24, 2020 by Liz Prehn Posted in Business Law, Tax Planning & Compliance

If you’re considering purchasing an existing business or starting a new one from scratch, you’re going to need to consider what form of structure your business will take. There are several different types of business entities commonly used in the U.S., and each has its specific applications and advantages. The...

End of Year Tax Planning 101 – It Pays to be Prepared

Posted on November 10, 2020November 17, 2020 by Liz Prehn Posted in Tax Planning & Compliance

Although everyone’s financial and life situation is unique, the following are examples of tax opportunities and strategies that may be helpful to lower your overall tax burden. Individual taxpayers, please consider: No. 1 Tip: Have You Prepaid Enough Tax for 2020? One of the reasons for doing year-end tax planning...

End-Of-Year Tax Planning Strategies for Individuals, Families and Businesses

Posted on October 23, 2020November 10, 2020 by Liz Prehn Posted in State & Local Taxation, Tax Planning & Compliance

October isn’t traditionally the time most of us think about our taxes. But a little planning and forethought now can help to reduce your tax burden next April. Here are a few handy tips for individuals, families and businesses to help you stay a step ahead on your taxes—and save...

Category: Tax Planning & Compliance

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