Tax Advice Guys

This is NOT official yet, just a request: https://www.accountingtoday.com//lawmakers-ask-irs-to-exte

Surprised the wife for Valentine's Day

This is a great article about what to expect for yourself this coming Tax Season: https://www.cnbc.com//dont-bank-on-that-refund-yet-april-t

It's a great day when you get in and check on the status of a client with the FTB and something you have been working on for months is finally completed! The client is ecstatic as am I. Have a wonderful Tax Season! #taxseason2021

Well, it's official. IRS is talking about extending the tax season. This is their concerns: 1) 1099s and W-2s may be delayed because of missing employees; 2) IRS may not be caught up by then as tax pros are facing burn out from the endless tax season; 3) Any 2-week quarantine by an employee would be difficult to overcome. 4) Many tax pros will be working from home; 5) Tax pros can expect that clients will expect less contact which will require more time from preparers to accommodate. Please continue to follow Tax Advice Guys for more updates as they become available.

A few days late, but feeling great! This is 47.

New Tax Brackets for 2020 Tax Returns have been announced: https://clark.com/personal-financ//irs-tax-brackets-2021/

Okay, so I'm still reading through the New York Times articles regarding the President's Tax Records. It is going to take me a while to go through everything, but I wanted to make a few comments: First, It really appears to me that the only thing the President is guilty of with his taxes is taking full advantage of the system. While some of the expenses may seem lavish to the average American, keep in mind that President Trump was on National Television, then running for of...fice, and finally elected as President. I get that you may not like the fact that he can legally deduct haircuts, but it is allowed under the law as a business expense, at least while he was on the Apprentice. Second, According to the article, the President actually made Quarterly Payments during that time of over $90 Million Dollars. He got most of it back as refunds, due to his losses from his business dealings, but again, that is all legal. You don't have to like the size of the refunds, but I'm willing to bet he didn't like the size of the quarterly payments. I will have more thoughts on this later this week. I might even do a video on it.

Mirage is NOT pleased. #petparentshaming #secretlifeofpetsush #sweepstakes

When you reach quarantine level 10!

Mirage wishes you all a Happy Friday!

My youngest decorated the cake this year!

More information about the stimulus checks: https://www.yahoo.com//coronavirus-stimulus-payments-16044

https://www.gov.ca.gov//governor-newsom-signs-executive-o/

https://twitter.com/i/events/1242559326876839941

On Friday, March 20th, The IRS announced that they are extending both the Payment deadline and the Filing Deadline for Tax Returns to July 15th, 2020. Due to this announcement, and the order by Governor Gavin Newsom to stay inside, Tax Advice Guys will be closed from March 23rd through April 5th. We hope to return to the office on April 6th. We will still be checking emails on a daily basis; however, it may take us up to 48 hours to respond. Please know that this decision w...as not made lightly, as I know how important it is to get your taxes filed not only correctly, but also timely. It is my sincere hope that with the extension of the filing deadline, we can take the necessary steps to knock this virus out and get back to our normal lives. If you have an appointment scheduled during the next 2 weeks, you should have received a phone call asking you to reschedule. If you have not received that call, please contact me immediately. If you have an appointment scheduled for after the 5th, your appointment is still good and there is no need to reschedule at this time. If you have not already scheduled your appointment, please feel free to call our offices and leave a message at (714) 375-6629. We will return your call when we get back to the office. Again, I want to let you know that Tax Advice Guys does have a secure portal on our website. I know that not everyone is comfortable with this technology, but if you are, then please consider using this option. There is no additional charge to utilize this and I would be more than happy to walk you through how to get setup. I want to stress how grateful I am to have each one of you as my clients. Your faith and trust in me is greatly appreciated, and I have made these decisions in order to protect not only my family, but also yours. Thank you, Joe Davidson, EA President Tax Advice Guys

Hello, As the national crises continues, I wanted to take a minute to let you know what we here at Tax Advice Guys are doing to ensure that your tax returns are filed both timely and correctly. On Tuesday, March 17th, Secretary of the Treasury announced that people who owe money on their 2019 tax returns (the returns we are filing this year), will be allowed to defer paying their bill until July 15th, 2020 with no additional penalties or interest. This is a major announcemen...t that will have a very positive effect on those who owe and cannot work right now. The one thing that was not made clear was whether the actual filing deadline would be extended. We are still awaiting clarification on that issue. At this time, we are working under the assumption that all tax returns must be filed no later than April 15th, 2020. As you know, Orange County has been asked to lock themselves down, except for essential services. One of those essential services is tax preparation, which is why we have not shut down. To that end, we are continuing to meet one-on-one with individuals who wish to keep their scheduled appointment. We also have asked our receptionists to please accept any Drop-Off returns and give them to me, when I am free. Also, we do have an online portal that is free for our customers. I would be happy to walk anyone through the process of doing this is you are unfamiliar with how this works. I know that many people are scarred. I admit, I am a bit frightened as well. However, we will get through this time as we always do. Together. Thank you, Joe Davidson, EA President Tax Advice Guys

https://www.ftb.ca.gov//2020-2-more-time-to-file-pay-for-c

A good article . . . https://www.yahoo.com//8-most-vexing-tax-questions-1606482

This is a really good article about the winners and losers from the Tax Cut and Jobs Act . . . https://www.marketwatch.com//two-years-after-the-tax-cuts-