Guardian Tax Solutions

The new 1099-NEC form for independant contractors.

The California Expanded Earned Income Tax Credit (CalEITC) is now available for taxpayers who are 18 years and over. The CalEITC is a refundable credit, meaning that taxpayers will receive a cashback where the credit is greater than the tax owed. The following income limits... must be met to be eligible for the credit: families earning $24,950 or less may be eligible for the credit if they have qualifying children; or people earning $16,750 or less may be eligible if they do not have children. See more

Payroll Services: https://gusto.com/partners/invite/guardian Complete Package: $12/mo per employee plus $175/mo base Full-Service Payroll... Employee Self Service & Profiles Health Benefits Administration Workers' Comp Administration Admin permissions Employee Offers & Onboarding Simple time tracking PTO policies & Time-off requests Employee Directory & Surveys Core Package: $6/mo per employee plus $150/mo base Full-Service Payroll Employee Self Service & Profiles Health Benefits Administration Workers’ Comp Administration Paid-time-off policies

Rental Real Estate Enterprise The proposed revenue procedure set forth in Notice 2019-7 provides a safe harbor for a rental real estate enterprise to be treated as a trade or business for purposes of Section... 199A. RPEs can also use the safe harbor. A rental real estate enterprise must sat- isfy three conditions to qualify for the safe harbor: Separate books and records must be maintained to reflect income and expenses for each rental real estate enterprise. At least 250 or more hours of rental ser- vices must be performed per year with respect to the rental enterprise. For tax years beginning after December 31, 2022, this test can be satisfied in any three of the five consecutive tax years that end with the tax year. The taxpayer must maintain contem- poraneous records of relevant items, including time reports, logs, or similar documents. (This requirement does not apply to tax years beginning in 2018.) Relevant items include hours of all services performed, description of all services per- formed, dates on which such services were performed, and who performed the services.