Archive for Month: January

FEBRUARY 2020 INDIVIDUAL DUE DATES

February 1 – Tax Appointment If you don’t already have an appointment scheduled with this office, you should call to make an appointment that is convenient for you.  February 10 – Report Tips to Employer If you are an employee who works for tips and received more than $20...

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FEBRUARY 2020 BUSINESS DUE DATES

February 10 – Non-Payroll Taxes File Form 945 to report income tax withheld for 2019 on all non-payroll items. This due date applies only if you deposited the tax for the year in full and on time. February 10 – Social Security, Medicare and Withheld Income Tax  File Form...

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WILL INDEPENDENT CONTRACTORS BECOME EXTINCT?

Article Highlights: New California Legislation Employee or Independent Contractor Dynamex ABC Test Impact on Employers Impact on Workers Safe Harbor The California legislature recently passed landmark labor legislation that essentially makes it very difficult, if not impossible, for a worker to be classified as an independent contractor (self-employed). Governor...

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EMPLOYER’S PENSION STARTUP CREDIT SUBSTANTIALLY INCREASED

Article Highlights: Eligible Plans Eligible Expenses Qualification Rules Credit Amount On December 20, 2019, President Trump signed into law the Appropriations Act of 2020, which included a number of tax law changes, including retroactively extending certain tax provisions that expired after 2017 or were about to expire, a number...

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ABOVE-THE-LINE EDUCATION TAX DEDUCTION REINSTATED

Article Highlights: Appropriations Act of 2020 History of the Deduction Other Education Expense Benefits Which Tax Break Provides the Best Benefit On December 20, 2019, President Trump signed into law the Appropriations Act of 2020, which included a number of tax law changes, among them retroactive extension of certain...

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