Latest News

Unbox Your Tax Help

A human lifeline to help you do your taxes correctly, so you save the most money and avoid an audit.

HEALTH INSURANCE NEWS (ACA ACT)

Every US citizen must have health insurance starting 1/1/14 under the Affordable Care Act.
You can buy it privately or through Covered CA (coveredca.com). There are some exceptions to the mandate, but if you don’t qualify and you don’t have insurance you will be charged a penalty on your
tax return.

This year insurance companies and employers are filing form 1095-B and 1095-C with the IRS so that they can monitor and check that you had insurance coverage.  If you do not have coverage or even part year coverage, and you did not calculate the penalty on your return, it is very likely you will be notified by the IRS of additional tax/penalty due.  Be sure to let your tax preparer know about your insurance coverage and give them the 1095 forms with your tax documents when they are preparing your return.

Estimates Due

Next estimates due April 15, June 15, September 15 and January 15.

For state estimate you might want to pay it by December 31 if you itemize
your deductions. Reminder, California estimates are not paid in equal installments. They are due April 15 30% of previous years tax, June 15 40% and January 15 or December 31 30% previous years tax.

Alimony VS Child Support

This is very important to be stated correctly in divorce agreement.
One is deductible and one is not.

Buying or Leasing A Car

Buying or Leasing A Car

Should I lease or buy a car ? Does one give me more tax deduction? Maybe.  Deciding to buy or lease a car should not be determined based on tax deduction alone. Both allow deduction of some sort but with limitations. I like to ask clients, how much do you drive? Do you like to hold onto a car for more than 3 years? Cars loose value as soon as you drive it off the lot, so there are alot of things to consider before deciding to lease or buy a car.

Review Us On Yelp

Stern Donna 5.0 star rating 8 reviews
1670 Santa Ana Ave
Ste K
Costa Mesa, CA 92627

(949) 250-4427