Koi Tax Service

Mid year is always an interesting time for taxpayers. A lot of letters are being distributed by the taxing agencies, for the 2018 tax year. In addition to the usual letters, apparently there were some issues with the electronic filing of w-2s and 1099s, in that state withholding amounts being reported ran into SNAFUs. So this just reinforces the idea that you should always review these government letters and to not be intimidated. Mistakes happen, both by taxpayers AND by the taxing agencies! To put into context, The Taxpayer Advocate Office has recently released a road map for the IRS and their organizational structure for "work flow". Thankfully this helps simplify things for the common taxpayer (dripping with sarcasm)! https://www.kiplinger.com//links/ktl/190809/TAS_Roadmap.pdf

Tax Season is rapidly approaching. Koi Tax is looking to fill their seasonal help needs! If you, or someone you know is looking for some season part time work, contact [email protected] with their resumes!

Here's are great article related to step up basis rules! https://m.forbes.com//dont-make-this-big-tax-mistake-aft/

Here's an interesting read for all who file tax returns! http://www.freemarketcentral.com//104-year-of-the-income-t

For anyone who's keeping score, we are now within 4 weeks of the deadline. Do you know where your tax preparer is?

There have been pretty big changes with IHSS earnings over the past couple of years. The biggest change being the possibility of the IHSS earnings being considered non-taxable income! Anyone collecting IHSS for someone you reside with needs to file some paperwork immediately to see if you can qualify for non-taxable income classification!!!

As a reminder to all you extension holders out there; the deadline is looming in! 10 days and counting! Tick, tock...

Bad news No Cals! According to Covered California, Northern Californians can expect to see a 7 percent increase to their 2016 premiums. This is compared to an expected increase of 1.8 percent for Southern Californians! WOW!

Mid year is always an interesting time for taxpayers. A lot of letters are being distributed by the taxing agencies, for the 2018 tax year. In addition to the usual letters, apparently there were some issues with the electronic filing of w-2s and 1099s, in that state withholding amounts being reported ran into SNAFUs. So this just reinforces the idea that you should always review these government letters and to not be intimidated. Mistakes happen, both by taxpayers AND by the taxing agencies! To put into context, The Taxpayer Advocate Office has recently released a road map for the IRS and their organizational structure for "work flow". Thankfully this helps simplify things for the common taxpayer (dripping with sarcasm)! https://www.kiplinger.com//links/ktl/190809/TAS_Roadmap.pdf

We here at KOI Tax Service want to wish the best of luck to one of our long time clients, Jason Braga, who is riding 545 miles for a GREAT cause. Check out the link below!!!! http://www.tofighthiv.org/goto/jasonbraga2018

Tax Season is rapidly approaching. Koi Tax is looking to fill their seasonal help needs! If you, or someone you know is looking for some season part time work, contact [email protected] with their resumes!

Here's are great article related to step up basis rules! https://m.forbes.com//dont-make-this-big-tax-mistake-aft/

A friendly reminder for all you entity owners out there in California; Statement of Information (Form SI-550) reminder notices are being mailed. Make sure you get these filed!!!

Here's an interesting read for all who file tax returns! http://www.freemarketcentral.com//104-year-of-the-income-t

For anyone who's keeping score, we are now within 4 weeks of the deadline. Do you know where your tax preparer is?

There have been pretty big changes with IHSS earnings over the past couple of years. The biggest change being the possibility of the IHSS earnings being considered non-taxable income! Anyone collecting IHSS for someone you reside with needs to file some paperwork immediately to see if you can qualify for non-taxable income classification!!!

Thank you Emancipation Day for an additional 3 days this year!!!! A little background for everyone for our increase in time... https://en.wikipedia.org/wiki/Emancipation_Day

Here we are under 3 weeks until the filing deadline and we're seeing more and more letters coming out from the Franchise Tax Board and the IRS with adjustments to current year returns. Keep in mind the the government does make mistakes and to question their adjustments, you'd be surprised at what happens within the halls of the government and their systems!

Here we are getting to the end of the year, so don't forget about the 0% federal rate for long term capital gains in your end of the year tax planning!

As a reminder to all you extension holders out there; the deadline is looming in! 10 days and counting! Tick, tock...

Bad news No Cals! According to Covered California, Northern Californians can expect to see a 7 percent increase to their 2016 premiums. This is compared to an expected increase of 1.8 percent for Southern Californians! WOW!