Sebastian's Tax Service,CA-Trucker Tax Preparation Sebastian Herrera,EA

In December 2017, President Trump signed the Tax Cuts and Jobs Act into law. per diem pay before the inception, did eliminate federal form 2106 on (ALL) unreimbursed work expense trades including the trucking industry for only (W-2) employees for 2018 tax. The law removed the allowance for (ALL) industries not just the trucking world. However, it left a special provision in place for business owners, where owner-operators fall, that allows individuals subject to Hours of Ser...Continue reading

We call ourselves "Sebastian’s Tax Service Audits & Representation " for a reason. An expert is someone who specializes in one certain areas, and for us, that's the trucking industry tax laws and how they apply to your business. Our Tax specialists have comprehensive knowledge of the specific tax deductions that pertain to the trucking industry. We work with each client on a personalized basis, giving you the time and specific advice that fits your situation. We will represe...nt you from start to finish, and we will not quit until the matter is resolved to your satisfaction. We feel privileged that the Owner Operators and Fleet Operators from coast to coast trust and value our services and depend on us to file their corporate, partnership and personal tax returns year after year! The only federally licensed Enrolled Agent in the nation that worked in the trucking industy for 24 years. Call us for a 2016 tax appointment, or prior year tax returns that need amending because of a preparers trucker tax inexperance. 951-710-3140

The start of the actual 2016 tax filing (E-File doors) will not begin until January 23rd. This does NOT mean that we can't begin the preparation necessary prep earlier (we can, if you really have your paperwork in order). The Internal Revenue Service said, their will be delays as a result of a new anti-fraud regulation that will take effect in 2017. The rule will give the agency more time to sniff out phony returns and prevent refunds from going to scammers.... Call us! We are currently taking appointments for the 2016 Tax Season (951) 710-3140 Jessica and Brenda are taking the calls Monday thru Friday 9Am To 5Pm

Did you know that truckers can usually expense-out more than 100 items from their tax return? The IRS recognizes truck drivers take on an unusual amount of business expenses and offer multiple tax deductions. With the 2016 tax season around the corner, Sebastian's Tax Service wants to make sure all truckers are aware of these possible tax breaks. With 24 years of experience in the trucking industry, and the only federally licensed Enrolled Agent with that experience combined ...sets a higher standard with the knowledge that is very hard to find. Sebastian's Tax Service!

Experts in IRS audits and representation as well as tax preparation.

We know that miles and pay are just part of the equation. Our goal is to give Owner Operators and W-2 drivers the balance of the best Trucker Tax preparation in the industry! Sebastian's Tax Service Undoutably the best in trucker tax preparation!!!... Call us for an appointment.

Tax extender act renews tax breaks In mid-December, Congress renewed a long list of tax breaks known as "extenders" that have been expiring on an annual basis. This year many of the rules are retroactive to the beginning of 2015, and you can benefit from them as you prepare your 2015 federal income tax return. In addition, the Protecting Americans from Tax Hikes Act of 2015, which was signed into law on December 18, 2015, makes some of the rules effective through December 31,... 2016. Others are effective through 2019, and some are effective permanently. Provisions in the Act also make changes to existing tax rules that were not part of the extenders. All of these changes will affect your tax planning for 2016 and future years. Here's an overview of selected provisions. When you're age 70 and over, you can make a tax-free distribution of up to $100,000 from your IRA to a charity. This provision was reinstated for 2015 and is now permanent. The deduction for up to $250 of out-of-pocket eligible educator expenses is available for your 2015 return. It's now permanent and will be indexed for inflation beginning with 2016 tax returns. You can choose to claim the itemized deduction for state and local sales taxes in lieu of deducting state and local income taxes on your 2015 return. This break is now permanent. The tuition and fees above-the-line deduction for qualified higher education expenses is available for 2015 and 2016. If you're a homeowner, you can exclude mortgage debt cancellation or forgiveness of up to $2 million in 2015 and 2016. Discharges of qualified mortgage debt can also be excluded after January 1, 2017, if you have a binding written agreement in effect before that date. This tax break is only available for your principal residence. The maximum Section 179 deduction for qualified business property, including off-the-shelf software, is available for 2015 and is now permanently set at $500,000 (subject to a taxable income limitation). The deduction is phased out above a $2 million threshold. Both thresholds will be indexed for inflation beginning in 2016. The additional first-year depreciation deduction, known as "bonus depreciation," is available for 2015 when you buy qualified business property. The deduction is extended through 2019. You can claim the work opportunity tax credit for 2015 if you hired eligible individuals last year. This credit is extended for five years (through 2019). Because the Act was passed so late in the year, you'll have to review your 2015 transactions to take advantage of applicable breaks and claim them on your 2015 federal income tax return. Also, with the rules now extended through 2016 (and in some cases beyond), you can begin to update your current tax plan with some measure of certainty. Give us a call for more information and for help in determining which changes affect you.

Its official the 2016 tax season starts January 19th 2016

Why an Enrolled Agent ? Not all paid return tax practitioners are equal! This IRS chart outlines the different levels of testing, continuing education requirements, unlimited representation rights and other criteria that you should know before hiring a tax professional. Using an enrolled agent can save significant time and effort in tax preparation and its associated tasks. EAs are equipped to advise, represent, and prepare tax returns for individuals, partnerships, corporations, estates, trusts, and any entities with tax-reporting requirements. EAs’ Continuing Education (CE) requirements ensure they have the knowledge to effectively represent taxpayers audited by the IRS despite the continually changing tax laws. In fact, EA members must fulfill continuing professional education requirements that exceed the IRS’ required minimum.