Crystal Martinez, CPA

Reminder: The extension deadline is quickly approaching! Monday, October 17 is the last day to timely file your 2015 tax returns.

Notice to Employers: The right to accrue and take sick leave under California's new sick leave law takes effect today. You will likely need to update your employee handbook regarding your vacation and PTO policies. Visit the State of California's Department of Industrial Relations website at http://www.dir.ca.gov/dlse/Paid_Sick_Leave.htm for more information, including a webinar.

Reminder: The extension deadline is quickly approaching! Monday, October 17 is the last day to timely file your 2015 tax returns.

Vacation Home Rental Tips: * If your vacation home is rented fewer than 15 days per year, you do not have to report rental income. Your mortgage interest and property taxes are deductible on schedule A, Itemized Deductions. * Personal use of a vacation home must be fairly low for a home to be classified as a rental property and the ability to claim a loss in the current year is limited. ... * If the property is used as a home that is rented when you are not using it, your rental expenses are deductible to the extent of your rental income. Expenses are allocated between personal-use and rental use based on the number of days rented at fair value divided by the total number of days the property is occupied. Hope you are enjoying this beautiful Summer!

Notice to Employers: The right to accrue and take sick leave under California's new sick leave law takes effect today. You will likely need to update your employee handbook regarding your vacation and PTO policies. Visit the State of California's Department of Industrial Relations website at http://www.dir.ca.gov/dlse/Paid_Sick_Leave.htm for more information, including a webinar.