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Two Convenient Locations:
San Diego Office: (619) 283-7113
Julian Office: (760) 765-0343
Click links to access individual blogs
• Six Simple Ideas to Help Your Small BusinessPage: 1 2 3 4 5
• Money Management Tips for Couples
• Summer Jobs and Taxes
• Making Your Home Office a Tax Deduction
• The Benefits of Being a Sole Proprietor
• Debt: Gone But Not Forgotten by the IRS
• Review Financial Decisions When Interest Rates Change
• Cryptocurrency: The IRS is Watching You!
• Protecting Your Digital Footprint
• Small Business Tax Return To-Do-List
• Ideas to Improve Your Financial Health in 2022
• Five Great Money Tips
• Fake Products (and Money!) Are Big Business
• Year-End Tax Planning Ideas For Your Business
• Time to Schedule Your Tax Planning Session
• IRS Backlog of Historical Proportions
• Protect Your Valuables BEFORE Thieves Arrive
• Make the Most of Your Vehicle Expense Deduction
• Help! I Just Got a Letter From the IRS
• Manage Your Business's Unemployment Taxes
• Common Tax Mistakes When Selling a Home
• The Hidden Tax Consequences of Cryptocurrency
• Building a Fortress Balance Sheet
• Taxes: These Basics are for Everyone
• Starting a Business Now Could Make a Lot of Sense
• What's New in 2021
• Organized Business Records Save Time and Money
• Your Identity is NOT Your Own!Page: 1 2 3 4 5
• Seven Tips For Financial Wellness In 2021
• PPP Loan Expenses Are Now Tax Deductible
• Deductibility of Business Meals Provided by Restaurants in 2021 and 2022
• Ideas For Better Savings Rates
• Retirement Savings Tips for Small Business Owners
• Steer Clear of Money-Making Scams While You're Stuck at Home
• How to Build Your Emergency Fund - When You Have No Money
• Great Tips to Improve Your Credit Score
• What does the executive action deferring payroll taxes mean for employers and employees?
• Should You Incorporate Your Business?
• How to Eliminate a Tax Surprise
• New law provides relief for eligible taxpayers who need funds from IRAs and other retirement plans
• How Stay-at-Home Orders Change Money Habits
• IRS guidance provides RMD rollover relief
• Financial Questions to Ask Mom and Dad
• The New Face of Banking
• PPP borrowers get concessions, additional guidance on forgiveness
• The IRS clarifies the deductibility of PPP-funded expenses
• SBA extends the PPP repayment deadline for self-certification
• Beware of Scams Tied to COVID-19 Economic Impact Payments
• Answers to Common COVID-19 Unemployment Questions
• CARES Act provides COVID-19 pandemic relief to businesses
• The IRS announces new COVID-19-related assistance for taxpayersPage: 1 2 3 4 5
• 3 Major Charity Scam Red Flags
• 2020 Social Security Benefits
• Avoid These Common Tax Mistakes
• What Employers Need to Know About Assembly Bill 5
• Bill Collector Calling? Know Your Rights
• Tips to Protect Yourself From Tax Scams
• The IRS Is Not Always Right
• Select the Right Health Insurance for Your Business
• The IRS Loves Your Business...and That is NOT Good
• Help Older Adults Stand Up Against Scams
• Amazon and eBay Sales Tax ALERT!
• No Excuses. Time to Lower Your Tax Bill.
• How To Protect Your Social Security Number
• You Know You Need Tax Planning If...
• What You Need To Know About IRS Audits
• How to Correct Common Financial Mistakes
• Don't Leave Your Business Exposed
• Watch Out! 7 Vacation Costs That Sneak Up on You
• Major Life Changes Ahead? Read This!
• 7 Tax-Free Ideas to Bolster Your Business Benefits Package
• Stay prepared to sell your business
• Great uses for your tax refund
• How to File Nonprofit Taxes
• 7 Common Missing Tax Return Items
• Is a Tax Surprise Waiting for You?
• School yourself on the student loan interest deduction
• The 6 Biggest Threats to Your Finances
• Last-Second Money-Saving Tax MovesPage: 1 2 3 4 5
• Retirement Contributions Get a Boost in 2019
• 5 Estate Planning Myths
• Disaster Preparedness Tips for Taxpayers and Businesses
• Five Tax Breaks for New Parents
• Setting up Your Business Accounting System
• Ideas to Improve Your Financial Health
• It's tax-planning time
• Managing Money Tips for Couples
• 6 tax benefits of owning a home
• Five Great Finance Tips Everyone Should Know
• How to handle a gap in health care coverage
• Update on the Tax Cuts and Jobs Act
• When an extension makes sense
• Tax checklist for business startups
• Answers to commonly asked tax questions
• New FASB Standards for Nonprofit Accounting
• The best way to avoid an audit: Preparation
• Boost your retirement savings now
• IRS Urges Travelers Requiring Passports to Pay Their Back Taxes
• Scam Alert: IRS Urges Taxpayers to Watch Out for Erroneous Refunds; Beware of Fake Calls to Return Money to a Collection Agency
• How to Get a Green Light for Commuting Expense Deductions
• Federal requirements for substantiating charitable contributions
• How to cut taxes under the new tax act
• FBI Warns of Online Dating Scams
• IRS issues 2018 standard mileage rates
• Year-end tax checklist
• The Equifax breach and you: be proactivePage: 1 2 3 4 5
• Beware of Bogus Charities
• Planning A Wedding Over The Holidays?
Plan For Taxes Too
• Don't Include The IRS On Your Gift List
• Ready To Start Year-End Planning?
Focus On The Big Picture.
• Know When To Sell
• Put Your Tax and Financial House
• Are You Prepared For These Common
• Scams Against the Elderly:
Know the Danger Signs
• Tax Benefits of Corporate Retirement
• Maneuvering the Corporate
Retirement Plan Maze
• Documenting your Business Travel and
• Maximizing your Travel and
• Deducting Business Meals and
• Do Yourself a Favor by Filing
• Do I Need A CPA?
• How to Save Money on Your Tax
• What To Do If You Can't Pay
• What To Do If You Haven't Filed
No Excuses. Time to Lower Your Tax Bill.
It's easy to push tax planning to the sidelines when tax laws are ever-changing and hard to understand. Here are some common (but often unfounded) reasons for avoiding tax situations, plus tips to help get past them and start paying less tax this year:• It doesn't make a difference. This point of view is especially problematic in years with unique situations. Even in uneventful years, external forces like new tax laws can be managed if planned for in advance.
• Selling a house? You can avoid taxes if primary residence requirements are met.
• Starting a business? Choosing the correct entity can save you a bunch of taxes.
• Getting ready to retire? Properly balancing the different revenue streams (part-time wages, Social Security benefits, IRA distributions and more) has a huge impact on your tax liability.
• It's out of your control. Timing is important when it comes to minimizing taxes, and the timing is often in your control. Bundling multiple years of donations into one to get a deduction, holding investments over one year to get a lower tax rate, and making efficient retirement withdrawals are just some examples of prudent tax strategies that you control.
• There's not enough money. There are tax strategies to be implemented at all income levels, not just those at the top of the tax bracket. Tax deductions are available for student loan interest, IRA contributions and others even if you claim the standard deduction. Certain tax credits (called refundable credits) will increase your refund even if you don't owe taxes. Missing any of these tax breaks can unnecessarily increase your taxes.
• I only need help at tax time. When the standard deduction doubled in 2018, many people assumed they could kick their feet up and wait for a big refund. That assumption proved to be false for a large number of taxpayers when their refunds came in lower than expected or turned into a tax bill. Don't let this happen to you! Every year has it's own set of changes and challenges that you should plan for well before tax time rolls around.
• It's too overwhelming. Tax planning is often as simple as looking for ways to reduce taxable income, delay a tax bill, increase tax deductions, and take advantage of all available tax credits. The best place to start is to bolster your level of tax knowledge by picking up the phone and asking for assistance.
Thankfully, it's not too late to get on track for 2019. If you haven't scheduled a tax-planning meeting, now is a great time to do so.
Mailing Address: P.O. Box 1934, Julian, CA 92036
Julian Office: 2902 Washington Street, Julian, CA 92036 (760) 765-0343 (760) 765-0150 Fax
San Diego Office: (By Appointment Only) 3751 37th St., #2, San Diego, CA 92105 (619) 283-7113
Correspondence: P.O. Box 1934, Julian, CA 92036 E-mail: rebecca(at)luersdyercpa.com jan(at)luersdyercpa.com
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