Turner, Warren, Hwang & Conrad

If you’re nearing retirement, you’ve likely paid into the Social Security system your entire career. It’s only fitting that you finally cash in on the Social Security benefits that are rightfully yours. https://buff.ly/35hrIAu

Not-for-profit organizations should pay particular attention to two extended provisions: a tax break for donors of smaller charitable gifts and one that will be advantageous to big donors. https://buff.ly/3pxDik6 #notforprofit #nfp #taxbreak #taxbreaks #charitablegifts

The massive economic stimulus and government spending law, which was signed on December 27, 2020, extends several energy-related tax breaks that are covered in this article. https://buff.ly/3fCTLjQ #taxbreaks #energytaxbreaks #economicstimulus

Wishing you a safe and happy #MemorialDay weekend!

Explore relevant and trending finance topics curated by @CUNA Finance Council by attending CUNA Finance Council Virtual Conference May 18-20. We’re among the sponsors! #creditunion #financecouncil https://buff.ly/33NCuxD

Learn more about the COVID-19 related relief that was just signed into law https://www.twhc.com//COVID-19-related-relief-is-signed-in. #covidrelief #consolidatedappropriationsact #covidtaxrelief

Learn eight key strategies that could mean the difference between a successful or failed merger and acquisition https://www.twhc.com//form-successful-mergers-using-succes. #mergersandacquisitions #mergers #Merger

COVID-19 and its impact on organizations and its employees creates a need for an internal audit https://www.twhc.com//internal-audit-proves-critical-durin. #internalaudit #audit

From all of us at TWHC! #happyholidays #happyholidays2020

It is important to review and update your estate plan. Here are some tips for the end of the year https://www.twhc.com//tips-for-estate-planning-at-the-end-. #estateplanning

Learn about these cost cutting tips for all small business owners https://www.twhc.com//16-cost-cutting-measures-that-small- #smallbusiness #costcutting #businessowner

Before making an investment in real estate overseas, it’s important to understand what the total cost of the purchase will be, both immediately and long term, including your tax obligation. #realestate #investing #tax #moving #TRAVEL #Accounting #taxes https://buff.ly/2JnlRBV

More than half of adults who worked remotely during the pandemic are unaware that they could face tax consequences because they didn’t update their tax withholding to reflect their new location. #taxes #pandemic #workingfromhome #Accounting #California https://buff.ly/3l7MSqS

IRS sets a new deadline for a $500 stimulus check catch-up payment for your kids. The original Sept. 30 deadline to claim your missing $500 payment for child dependents from the first round of stimulus checks has been extended to Nov. 21. This gives you a few weeks to submit your claim and receive a payment months sooner than if you wait to claim it in your 2020 tax filing in spring 2021. #IRS #stimuluschecks #taxes #tax #Burbank #LosAngeles #accountants #family... https://buff.ly/3jG9fSW

In an effort to address economic disparities laid bare by the COVID-19 pandemic, San Francisco voters have overwhelmingly approved several tax measures targeting property owners and big businesses with CEOs who are paid far more than their average workers. #SanFrancisco #taxes #Property #realestate #Election2020 #businesses #Accounting #California https://buff.ly/366kLSS

Illinois voters rejected a high graduated rate income tax while Arizonans embraced a large income tax rate increase for high earners, among the many attention-grabbing results from Tuesday’s elections. #Elections2020 #Illinois #Arizona #taxes #tax https://buff.ly/361SYmo

Next year’s standard deduction for single taxpayers is $12,550, an increase of $150 from this year. Married couples filing jointly can expect a standard deduction of $25,100, up $300 from 2020. #tax #IRS #California #USA #Taxes #IncomeTaxReturns #twhc https://buff.ly/35IjRvn

The IRS announced on Monday that taxpayers can deduct contributions to a traditional IRA if they meet certain conditions, including income limitations. If during the year either the taxpayer or his or her spouse was covered by a retirement plan at work, the deduction may be reduced, or phased out, above certain adjusted gross income levels until it is eliminated. #401k #retirement #taxpayer #taxes #taxes #IRS #IRA #income #work #married #accounting #twhc #burbank #california

Victims of #California #wildfires that began Sept. 4 have until Jan. 15, 2021, to file various #individual and #business #tax returns and make tax payments, the #IRS announced. #Accounting #wildfire #LosAngeles #SANBERNARDINO #SanDiego #SanFrancisco https://buff.ly/37HH43v

On Thursday, the #IRS released an early draft of the instructions for Form 1065, U.S. Return of Partnership Income (IR-2020-240). The IRS is accepting comments on the draft instructions for 30 days and plans to issue final instructions in December. #tax #audit #accounting #taxes #partnership #smallbusiness #twhc #burbank #losangeles #sandiego #california #sanfrancisco https://buff.ly/2TnoXaF

From July through September, California collected $8.7 billion more in tax revenue than anticipated, according to the state’s Department of Finance, a bright sign amid a year of devastating economic news. #taxes #california #revenue #finance #economy #tax

One of the most consequential choices on the ballot is Proposition 15. If it passes, the measure will change how California properties are taxed by rewriting a decades-old rule that reshaped how local governments raise funds. #taxes #tax #California #burbank #twhc #prop15 #government #hollywood #sanfrancisco #sandiego https://buff.ly/3m4USJe

Arizona has long been a refuge for Americans seeking relief from high-tax California and states in the Northeast. But a tax referendum on the ballot Nov. 3 would whack job creators and make people rethink retirement in Scottsdale or a business move to Tucson. #Arizona #taxes #California #ballot #retirement #Scottsdale #Arizona #BusinessOwner #tax #Accounting https://buff.ly/3jelPZh

One of the most complicated measures on California’s ballot this November is Proposition 19, which gives new property tax breaks to older homeowners, increases property taxes for those inheriting their parents’ properties and tacks on some tax relief for those affected by wildfires. #California #property #taxes #homeowner #retired #realestate #wildfires #sandiego #twhc #burbank #losangeles #sanfrancisco

On Nov. 3, Californians will vote on a split roll ballot initiative (Prop. 15) that seeks to enact the biggest tax hike in state history. In 1978 voters enshrined protections against runaway property taxes in the state Constitution (Prop 13). Prop. 15 would abolish those protections for businesses while maintaining limitationsat least for nowon homes. #taxes #california #ballot #tax #twhc #accounting #losangeles #property #housing #realestate #business #smallbusiness #ceo

For more than four decades, privately owned land in California has been taxed under a one-size-fits-all system. Be it a duplex or a delicatessen, a ranch or a sprawling ranch-style home, the same limits apply to all property owners. Proposition 15 would change that, splitting millions of acres of land and buildings into two categories: one for homeowners whose tax limits would remain unchanged and one for businesses, whose property tax payments would rise. The new revenues, totaling as much as $12.5 billion under one independent analysis, would be set aside for local governments and public schools. #taxes #twch #burbank #California #billion #prop15 #land #buildings #homeowners #tax #school

The Internal Revenue Service (IRS) released a breakdown by state of approximately 9 million people who don’t file a federal income tax return to receive a special notice by mail encouraging them to verify whether they are eligible to claim an Economic Impact Payment. Those people who are not required to file a federal income tax return but may qualify for an Economic Impact Payment will receive a letter in the mail urging them to use the Non-Filers Tool on the IRS website and to register for the payment. The deadline to register for an Economic Impact Payment is on October 15, 2020. #taxes #twhc #return #burbank #accountant #accounting #payment #irs #california #economy #file #advice #taxhelp #financialplanning

As we enter the final months of this unusual year, many people will be considering year-end charitable giving. It goes without saying that 2020 has been a challenging year, and the fourth quarter seems to have snuck up quickly. Given the host of charitable tax law changes over the last 36 months, a refresher might be useful. #charity #tax #law #change #planning #taxes #twhc #accounting #CARES #burbank https://buff.ly/2H6AXdJ