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San Francisco’s Leading Accounting Firm for Estate & Tax Planning, Safe Harbor LLP, Announces January Newsletter

Filed in CPA Blog by on January 16, 2018

San Francisco, California – October 3, 2017. Safe Harbor LLP, recognized as one of the leading accounting firms in the San Francisco Bay Area for estate and tax planning both for businesses and for high net worth individuals, is proud to announce its October newsletter. The newsletter is available online to both clients and the general […]

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Tax Preparation 2018 – New Individual Income Tax Rates & Brackets

Filed in CPA Blog by on January 14, 2018

After unifying the House and Senate tax reform provisions into one piece of legislation, the Conference Committee released its Conference Report on the Tax Cuts and Jobs Act, H.R. 1 (“the Act”), on Friday, December 15, 2017. The nearly 1,100 page bill is has been approved by the House and Senate and signed into law by President […]

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San Francisco Tax Preparation / CPA: January 2018 tax compliance calendar

Filed in CCH NEWS FEED by on January 14, 2018

January 4  Employers. Semi-weekly depositors must deposit employment taxes for Dec 27–Dec 29.   January 5  Employers. Semi-weekly depositors must deposit employment taxes for Dec. 30 and Dec. 31, Jan 1 and Jan 2.   January 10  Employees who work for tips. Employees who received $20 or more in tips during December must report them […]

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San Francisco Tax Preparation / CPA: FAQ: Can I still convert regular IRAs into Roth IRAs?

Filed in CCH NEWS FEED by on January 14, 2018

Yes, conversions from regular (traditional) tax-deferred individual retirement accounts (IRAs) to Roth IRAs are still allowed after enactment of the Tax Cuts and Jobs Act. In fact, in some instances, such Roth conversions are more beneficial than they were prior to 2018, since the tax rates on all income, including conversion income, are now lower. […]

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San Francisco Tax Preparation / CPA: How Do I? Use Section 529 plans for elementary and secondary school tuition

Filed in CCH NEWS FEED by on January 14, 2018

The Tax Cuts and Jobs Act modifies Section 529 qualified tuition plans to allow the plans to distribute up to $10,000 in tuition expenses incurred during the tax year for designated beneficiaries enrolled at a public, private, or religious elementary or secondary school. Section 529 plans used to only be allowed for college tuition, up […]

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San Francisco Tax Preparation / CPA: Top 10 tax developments with impact on 2018

Filed in CCH NEWS FEED by on January 14, 2018

The start of a New Year presents a time to reflect on the past 12 months and, based on what has gone before, predict what may happen next. Here is a list of the top 10 developments from 2017 that may prove particularly important as we move forward into the New Year:   #1: Tax […]

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San Francisco Tax Preparation / CPA: New year brings new tax code

Filed in CCH NEWS FEED by on January 14, 2018

January 1, 2018 not only brings a new year, it brings a new federal Tax Code. The just-passed Tax Cuts and Jobs Act makes sweeping changes to the nation’s tax laws. Many of these changes take effect January 1. Everyone – especially individuals and business owners – needs to review their tax strategies for the […]

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San Francisco Tax Preparation / CPA: Standard mileage rates increase, while higher depreciation limits kick in

Filed in CCH NEWS FEED by on January 14, 2018

The IRS has released the 2018 optional standard mileage rates to be used to calculate the deductible costs of operating an automobile for business, medical, moving and charitable purposes. Beginning on January 1, 2018, the standard mileage rates for the use of a car, van, pickup or panel truck will be: 54.5 cents per mile […]

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San Francisco Tax Preparation / CPA: CA – Guidance for corporations starting business in California issued

Filed in CCH NEWS FEED by on January 14, 2018

For corporate income tax purposes, the California Franchise Tax Board (FTB) has updated a publication that provides guidance for corporations starting business in California. The publication, among other things, addresses many of the questions that arise during a corporation’s first year, such as minimum tax liability, estimated taxes, and election of annual accounting periods and […]

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San Francisco Tax Preparation / CPA: Taxpayer warned about Form W-2 e-mail scams

Filed in CCH NEWS FEED by on January 14, 2018

Just as efforts to meet the Form W-2 deadline at the end of January get into full tilt, scamsters are at it again. The IRS has issued its fourth reminder for “National Tax Security Awareness Week” urging taxpayers to avoid identity theft by watching out for W-2 email scams that often surge during filing season. […]

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