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What With Trump, and Now Biden, San Francisco Tax Planning Is Much Harder

Filed in CPA Blog by on August 3, 2021

Planning for taxes is harder than ever. Between the Trump tax cuts, changes proposed by the Biden administration, and the pandemic, taxes and tax law are in huge flux not just with the IRS but here in California, too. What’s more, finding a tax planner in San Francisco isn’t easy – well at least finding […]

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Safe Harbor CPAs Announces Update to San Francisco Bookkeeping Information Page

Filed in CPA Blog by on July 29, 2021

July 30, 2021 – San Francisco, California. Safe Harbor LLP, a San Francisco CPA firm focused on high net-worth individuals and Bay Area businesses at https://www.safeharborcpa.com/, is proud to announce new content updates to its bookkeeping services page.

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Safe Harbor CPAs Announces New Post on Expat Tax Return Preparations for California Residents

Filed in CPA Blog by on July 29, 2021

San Francisco, California – July 29, 2021. Safe Harbor CPAs, a team of best-in-class accountants in San Francisco California, is proud to announce a new post on expat (expatriate) tax return preparation for California residents. The CPA firm specializes in international tax issues, and this latest announcement reminds California residents who have international tax return […]

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San Francisco Tax Preparation / CPA: CA – Taxpayer failed to provide resale certificates for claimed nontaxable sales for resale

Filed in CCH NEWS FEED by on July 24, 2021

For California sales and use tax purposes, a corporation’s (taxpayer’s) redetermination petition was denied because the taxpayer failed to provide resale certificates for its claimed nontaxable sales for resale. In this matter, the Department of Tax and Fee Administration (department) disallowed taxpayer’s claimed nontaxable sales for resale. The taxpayer manufactured and sold retail displays in […]

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San Francisco Tax Preparation / CPA: American Rescue Plan Tax Credit FAQs

Filed in CCH NEWS FEED by on July 24, 2021

The IRS issued two new, separate sets of frequently-asked-questions (FAQs) to assist families and small and mid-sized employers) in claiming credits under the American Rescue Plan (ARP). These FAQs provide information on eligibility, computing the credit amounts and how to claim these important tax benefits. Enacted in March to assist families and small businesses with […]

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San Francisco Tax Preparation / CPA: Eligible Partnerships May File Amended Returns

Filed in CCH NEWS FEED by on July 24, 2021

An eligible partnership may file amended partnership returns for tax years beginning in 2018, 2019, and 2020 by filing a Form 1065, U.S. Return of Partnership Income (Form 1065), with the “Amended Return” box checked. The partnership may also issue an amended Schedule K-1, Partner’s Share of Income, Deductions, Credits, etc. (Schedule K-1), to each of its partners. Partnerships […]

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San Francisco Tax Preparation / CPA: Temporary Use of Digital Signatures Extended

Filed in CCH NEWS FEED by on July 24, 2021

The IRS has extended the list of federal tax forms that cannot be filed electronically for which it is temporarily allowing digital signatures. The IRS has also extended filing period for which digital signatures on these forms will be accepted. These forms can be sent to the IRS with digital signatures if they are postmarked […]

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San Francisco Tax Preparation / CPA: Child Tax Credit Letters Being Sent

Filed in CCH NEWS FEED by on July 24, 2021

The IRS has started sending letters to over 36 million families who, based on tax returns filed, may be eligible to receive monthly child tax credit payments starting July. Eligibility of these families are being evaluated based on information provided by taxpayers in their 2019 or 2020 tax returns, or through the Non-Filers tool while […]

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San Francisco Tax Preparation / CPA: BEAT QDP Reporting Requirement Deferred

Filed in CCH NEWS FEED by on July 24, 2021

The Treasury Department and the IRS have announced that they intend to amend the base erosion and anti-abuse tax (BEAT) regulations under Code Sec. 59A and Code Sec. 6038A to defer the information reporting requirements for qualified derivative payments (QDPs) until tax years beginning on or after January 1, 2023. The current regulations provide that the QDP reporting requirements […]

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San Francisco Tax Preparation / CPA: Final Disaster Deadline Postponement Regulations

Filed in CCH NEWS FEED by on July 24, 2021

The IRS has finalized regulations relating to the mandatory 60-day postponement of certain time-sensitive tax-related deadlines by reason of a federally declared disaster. Further, the regulations clarify the definition of “federally declared disaster.” The regulations affect individuals who reside in or were killed or injured in a disaster area, businesses that have a principal place of business […]

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