San Francisco Tax Preparation / CPA: Social Security Wage Cap and Benefit Amounts Increase for 2022

For 2022, the Social Security wage cap will be $147,000, and Social Security and Supplemental Security Income (SSI) benefits will increase by 5.9 percent. These changes reflect cost-of-living adjustments to account for inflation. Wage Cap for Social Security TaxThe Federal Insurance Contributions Act (FICA) tax on wages is 7.65 percent each for the employee and […]

San Francisco Tax Preparation / CPA: Second Circuit Affirms SALT Cap Constitutionality

The Court of Appeals for the Second Circuit affirmed the district court’s judgment that the cap on the federal income tax deduction for money paid in state and local taxes (SALT) is constitutional. Four states brought a claim against the government alleging that the $10,000 cap on the federal income tax deduction for money paid […]

San Francisco Tax Preparation / CPA: IRS Highlights Work Opportunity Tax Credit to Help Employers Hire Workers

The IRS has reminded employers to check the Work Opportunity Tax Credit available for hiring long-term unemployment recipients and other groups of workers facing significant barriers to employment. Cash contributions made either to supporting organizations or to establish or maintain a donor advised fund do not qualify. Also, cash contributions carried forward from prior years […]

Safe Harbor CPAs Announces New Content for San Francisco Accounting Solutions

San Francisco, California – November 30, 2021. Safe Harbor LLP, a top-rated San Francisco CPA firm at https://www.safeharborcpa.com/, is proud to announce new content for Bay Area business owners. As businesses re-open, it may be a challenge to return to regular accounting and bookkeeping tasks. Business managers can find new tips and support on the […]

At Safe Harbor, We Are a CPA Firm That Punches Above Our Weight

SF is a fun town. It’s not really that big; it has fewer people by far than Los Angeles or even San Jose. It punches above its weight, however, when it comes to business. It’s a vibrant town for start-ups, for example. It’s a vibrant town for banking. And it’s a vibrant town for international […]

As SF Tax Accountants for Complex Tax Needs, We Are Not Downtown, but It’s Not an Issue

As downtown San Francisco rebounds from the pandemic, we are seeing an increasing number of calls from folks seeking an accountant for what are increasingly complex tax needs. Many used to have just “one job” and now they have “multiple jobs”. In some cases, the company they used to work for has gone out of […]