Welcome to Business Accountant!
Each of our clients is extremely important to us! We apply knowledge and expertise accumulated over many years to give direction and customized advice to each client. We are not merely historians but are directly involved in creating and influencing the unfolding of history. Our objectivity and overall understanding of our clients' needs enable us to provide critical business advice in a variety of situations. Please browse our site and contact us if your needs match our services.
News added, Los Angeles, June 27th, 2011: "How to" Video Tutorials - Schedule D Loss and Loss Carryover Tax Return
Business Accountant .com has added more free "how to" videos on tax form preparation on YouTube. The new videos explain how to prepare tax return form Schedule D Loss and Loss Carryover Tax Return
Click here for Schedule D Loss and Loss Carryover Tax Return tax preparation videos
News added, Los Angeles, April 14th, 2011: "How to" Video Tutorials - How To Prepare Tax Forms
Business Accountant .com has added more free "how to" videos on tax form preparation on YouTube. The new videos explain how to prepare tax return form Schedule D Capital Gain (1040 Form)
Click here for tax preparation videos
News added, Los Angeles, April 1st, 2011: BusinessAccountant.com Channel on YouTube!
Business Accountant .com has added more free "how to" videos on tax form preparation on YouTube. Visit the businessaccountant.com channel on YouTube!
Click here for BusinessAccountant.com on YouTube!
News added, Los Angeles, March 1st, 2011: More "How to" Video Tutorials - How To Prepare Tax Forms
Business Accountant .com has added more free "how to" videos on tax form preparation. The new videos explain how to prepare tax return form
1040nr Tax Return, tax form 1040NR-EZ, Schedule C (Form 1040) tax return, Schedule C-EZ (Form 1040), Schedule C COGS (Form 1040), and Schedule C Part IV (Form 1040) Tax Return. Click here for tax preparation videos
News added, Los Angeles, January 17th, 2011: "How to" Video Tutorials - How To Prepare Tax Forms
Business Accountant .com has added free "how to" videos on tax form preparation. The videos explain how to prepare tax return form
1040EZ, tax form W-4, 1040nr tax return, and form 1040A. Click here for tax preparation videos
News added, Los Angeles, January 3rd, 2011: Alimony Payments
The IRS recently ruled that alimony payments made to a remarried spouse are deductible, despite the fact that they are not mandated by law.
News added, Los Angeles, January 1st, 2011: Real Estate
Real estate investors who “flip” properties may be considered real estate professionals by the IRS. In which case, the profits earned on the investments would be taxed as ordinary income and not the lower capital gains tax rate.
News added, Los Angeles, December 23rd, 2010: Pensions
The Appeals Tax Court recently ruled in favor of a woman who murdered her husband. Since she is not entitled to the proceeds of her dead husband’s retirement plan, she is not taxed on the proceeds which were distributed to her son.
News added, Los Angeles, December 3rd, 2010: Audits
Audits for individuals were higher in 2010 than in 2009 with an overall rate of one in every 90 returns. This is the highest exam rate since 1997 which had an audit rate of one in 78. High incomers ($1 million or more) were audited one out of 12 this year, up from one out of every 15 last year.
In the business sector, small corporations were audited the most, at a rate of one out of every 106. Business entities overall were audited one out of every 172.
News added, Los Angeles, November 15th, 2010: Credits
For energy saving home improvements in 2011, the maximum credit will revert to the $500 limit. The credit is now for ten percent of the cost of materials (not including labor) down from last year’s 30%.
News added, Los Angeles, June 25th, 2010: Santa Clarita Office
In order to more easily service our clients in the Santa Clarita Valley we have opened an office located at
27240 Turnberry Lane
Suite 200
Valencia, Ca 91355
Our office, services the entire Santa Clarita valley including Valencia, Saugus, Newhall, Canyon Country, Stevenson Ranch, Castaic, Val Verde, Agua Dulce Acton and Fillmore.
Please Contact us at 661 310 2225
More about our new Santa Clarita CPA Office
Driving Directions to Santa Clarita CPA Office
News added, Los Angeles, June 15th, 2010: Domestic Parters
In a recent ruling, the IRS modified its position with regards to state registered domestic partners. For community property states, such as California, each domestic partner should report half of their joint earnings and withholdings in addition to any other community property income on their individual federal returns.
News added, Los Angeles, June 10th, 2010: Education Deductions
In most cases, advanced degrees are not deductible as a business expense or employee business expense, as they qualify the student for new job positions.
News added, Los Angeles, June 3rd, 2010: S Corporations
If an S Corporation pays a state tax liability for its shareholders, it could lose its status as an S Corporation. Qualifications for S Corporations include having only one class of stock. Therefore distributions have to be equally divided according to shares held.
News added, Los Angeles, May 28th, 2010: Mortgage Interest
Most auditors previously limited deductible mortgage interest to the first million dollars of home acquisition debt and separately allowed an additional $100,000 limit for home equity debt. Now, taxpayers can combine the two limits and deduct interest on a home acquisition debt of up to $1.1 million.
News added, Los Angeles, May 15th, 2010: Tax Enforcement
Since audits on sole proprietors have yielded less revenue than audits on other business entities, the IRS plans to shift some of its focus in that direction.
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Proactive tax planning to take advantage of timely tax saving opportunities.
Comprehensive business services that integrate income tax compliance
and planning with investments and insurance choices.
Consulting services that review businesses to find hidden opportunities to
increase wealth accumulation and retention.
Foreign investor tax services.
Individualized accounting system setup for new businesses.
State of the art payroll tax services and sales tax preparation.
Preparation of business and individual tax returns and financial
statements.
Budgeting and projection preparation and monitoring, facilitating the
creation and tracking of events.
Assistance in selection and installation of computer hardware and
software, ongoing monitoring and updating of systems.
