Denny & Company, LLP

Did you receive unemployment compensation last year? Well, the Senate has passed legislation making the first $10,200 of it tax-free in certain circumstances. The House still has to pass the bill and President Biden sign it into law, and then the IRS (as well as states that want to conform) as well as the software companies that create tax returns, will all have to retool their systems to accommodate the change. It may be advisable to file an extension if you are in this si...tuation, to avoid the possibility of needing to amend the return and await a refund on taxes you already paid in -- and amended returns take a LONG time to process; rumor has it that the normal 4-6 month timeline for processing Federal amended returns has increased even more with the mess that COVID made of our tax agencies. Be sure to check with your tax preparer (or your software if you do it yourself) whether or not you ought to extend your return. There is also the possibility that if this passes, the IRS will extend the first filing deadline, but don't count on that; hopefully, they will be able to retool very quickly and there will be little delay in implementing the new law.

Yes, it's a joke. Not terribly funny, when you think about it, though.

We cover your assets!

As of this morning, Monday December 7, Denny & Company LLP will be following our reduced on-site staffing as we did earlier in the year. The rest are working from home as much as possible per the order of the State of California for essential infrastructure businesses. We will be open our normal hours (except a lunch break for on-site staff) and will do curb-side delivery and pickup of materials. We are of course available for Zoom meetings as well as, if necessary, face to ...face meetings following the recommended protocols. Our phone systems are IP based and therefore, our staff working from home are available via our normal phone numbers. We expect this to last longer than the initial three weeks declared by our Governor so far, but we are prepared to meet all of our obligations as well as any new clients who come to us for help with their accounting and tax needs. Thank you for your patience during this trying time; please be safe and let's all try to love one another.

I was asked recently on a radio program (link to follow lol) the question: What does the world need now? I immediately projected from myself to the world and replied "Gratitude". This post is to express our sincere gratitude to our clients, our friends, and our community. We wouldn't be here without you, and are sincerely grateful for your business, your trust, and your friendship. Have a wonderful, safe, and relaxing Thanksgiving tomorrow. Also, do try to keep the pumpkin pie to just one (large) piece and only say 20-30 tbsp of whipped cream. There we go, projecting again ;)

Tax interviews will never be the same. Although we were using Skype with our European-based clients for years, they often weren't at home so we never heard either cats OR possible Baby Yodas.

Every Saturday we sell all sorts of flowers. This week we will have plenty of marigolds which are traditional for celebrations surrounding Dia de los Muertos. ...We do not take reservations or advance purchases. Flowers are sold from 8:30 until 1pm in the parking lot of the Old Town Newhall library. We also have sunflowers, roses and many other types of flowers. Prices vary but bouquets start at $5. Custom bouquets can be made on site. All flowers are locally grown in Santa Paula and Camarillo. The flowers are super fresh, farm direct and are being sold by the farmer themselves. You cannot get fresher flowers anywhere else in Santa Clarita. We will have extra marigolds this week but flowers are available year round, every Saturday rain or shine. In the parking lot of the Old Town Newhall library from 8:30 until 1pm.

In some good news, Oliver Fry, a firefighter from Valencia, continued his winning streak on Sunday night’s episode of "Who Wants To Be A Millionaire?"

For more information, contact Matt Denny

June 15th, 2020:

A friend of mine and a fellow long-time member of BNI has these little babies available along with a lot of other needed items. We purchased one batch of masks from Mark (very high quality and a VERY reasonable price), and are about to get some more (we have them available for folks who walk-in but forgot to bring them, and we provide them for our employees and partners as well.) They are also our regular printing company now. While they are a local Santa Clarita company, the...y also ship product around the country and are as honest as the day is long. #ShopLocal

Uncle Sam (and no doubt shortly the states) is watching. You are entitled to pay the least amount of tax you can lawfully pay -- you are NOT entitled to evade taxes. Let us help.

Have any of you gone through the process, and how was it?

We refuse, as well. Dr. Misner wrote this over 10 years ago, the last time we went through this kind of thing. His words are just as valid now.

FDA has approved use of antibodies in treating severe cases of COVID-19. #CoronaVirus #COVID19 #Plasma #Survivors #FDA

Updated information on the stimulus payment. It doesn't apply to all cases but should answer most of your questions about the Economic Impact Payment.