Part THREE: Required Minimum Distributions and 401(k)s SO much has happened this year and SO much has to be done before the year-end to help our clients make the correct decisions on their tax liabilities that we are starting our planning now, and we hope you will too. Most, but Read more…
Part TWO: The CARES Act, Net Operating Losses, and Cash Flow So much has happened this year and so much has to be done before the year end to help our clients make the correct decisions on their tax liabilities that we are starting our planning now, and we hope Read more…
Part ONE: The Pandemic (PPP loans), The Election, and Technology INSIDER’S TIP: Start Tax Planning NOW. Don’t Wait for December. INTRODUCTION TO THE SERIES So much has happened this year, and so much has to be done before the year end to help our clients make the correct decisions that Read more…
Tax planning is the process by which we make sure you are paying the right amount of taxes at the right frequency. Why? If you own your own business, you need to manage your tax liability, which means not paying too little, of course, but not paying too much either. Read more…
The Statement of Information is a business’s annual report and must be filed annually by every corporation and bi-annually by every LLC and nonprofit. There is a filing fee of $20 for LLCs and nonprofits, and $25 for corporations. Penalties of $250 is assessed for late filing. All California businesses Read more…
Tax time is here again. How should you file your taxes? Should you file your own taxes or hire a professional tax preparer? This depends on the complexity of your tax history, how much time you have to invest in filing your taxes, and how much you are willing to Read more…
In my previous article, “The Top 5 Reasons to Move Your Books to the Cloud”, I discussed how anytime, anywhere cloud access is the future of small business accounting systems. One of the reasons cloud accounting is taking off is the availability of inexpensive, yet robust, specialized applications that will Read more…
Are you a baby boomer? Well, if you were born in the years soon after WW II, then you are. Birth years starting early to mid 40’s and ending about 1964 put you in this category. Not an exact science for sure. You are probably familiar with all the forecasting Read more…
Tax Reform is upon us and we at LSL are here to help. Classic tax planning typically involves acceleration of tax deductions and deferral of income. However, with tax reform on the loom, tax planning will look different than before as there are many deductions that will be limited or Read more…
As businesses approach the last quarter of 2015 they have an opportunity to review the first 9 months of the year and project what the rest of 2015 will hold for revenues and planned expenses. For clients that are foreign-owned, LSL helps develop cross-border tax planning strategies to take advantage Read more…