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Running a Business Was Never Easy, but Today It’s Even Harder

Filed in CPA Blog by on August 8, 2020

At Safe Harbor CPAs, we love businesses! After all, we are ourselves and we love what we do. But being a business in San Francisco is harder than it has ever been, and as a business accountant in San Francisco, we are working harder than ever to help our clients succeed in this tough working […]

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At Safe Harbor CPA, We Are a Small Business Like Many Others Here in SF

Filed in CCH NEWS FEED by on August 4, 2020

At Safe Harbor, our CPA firm is a “small business.” We work hard for each and every client and focus on being the best CPA firm in San Francisco for other “small businesses.” If you are a “small” or “medium” sized business, we’re sure our philosophy will be in accord with yours.

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Finding a Good CPA Is Hard. Finding a Top-Rated One Is Very Hard

Filed in CPA Blog by on August 1, 2020

Finding a good CPA here in San Francisco is surprisingly hard. Finding a great CPA is even harder. And finding top-rated CPA firms in San Francisco? Really hard. Unless you just go to Google, read the reviews, and then you can come to us! We are really proud of our reviews and even more excited […]

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At Safe Harbor, Our Website Has Been Upgraded to SSL for Security

Filed in CPA Blog by on July 21, 2020

Nowadays, we are more and more conscious about security here in the San Francisco Bay Area. But security isn’t just about locking the doors. It’s also worrying about cybercrime and cyber problems. We’re excited to transition our website to SSL. All information is now encrypted end to end.

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San Francisco Tax Preparation / CPA: Proposed Reliance Regs Define “Real Property”” for Like-Kind Exchanges

Filed in CCH NEWS FEED by on July 10, 2020

Proposed reliance regulations clarify the definitions of “real property” that qualifies for a like-kind exchange, including incidental personal property. Under the Tax Cuts and Jobs Act (TCJA) ( P.L. 115-97), like-kind exchanges occurring after 2017 are limited to real property used in a trade or business or for investment. Comments are requested. Real Property Defined for Like-Kind ExchangesUnder […]

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San Francisco Tax Preparation / CPA: IRS Proposes Treating Payments for Direct Primary Care Arrangements and Health Care Sharing Ministry Memberships as Medical Care Payments

Filed in CCH NEWS FEED by on July 10, 2020

Proposed regulations would define expenditures for direct primary care arrangements and health care sharing ministry memberships as amounts paid for medical care. Thus, amounts paid for those arrangements may be deductible medical expenses. The proposed regulations also clarify that amounts paid for certain arrangements and programs, such as health maintenance organizations (HMO) and certain government-sponsored […]

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San Francisco Tax Preparation / CPA: Proposed Regs Address Eliminated Qualified Transportation Fringe Deduction

Filed in CCH NEWS FEED by on July 10, 2020

Proposed regulations provide guidance regarding the elimination of the deduction for expenses related to qualified transportation fringe benefits (QTFs) provided to an employee. The Tax Cuts and Jobs Act (P.L. 115-97) eliminated the deduction, effective for amounts paid or incurred after December 31, 2017. In general, the proposed regulations refine guidance previously provided in Notice 2018-99, […]

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San Francisco Tax Preparation / CPA: Proposed Regulations Issued Updating Definition of Qualifying Relative for Child-Related Tax Benefits

Filed in CCH NEWS FEED by on July 10, 2020

The IRS has issued proposed regulations clarifying the definition of a qualifying relative for various tax benefits for tax years 2018 through 2025 in which the dependent exemption amount is zero. During these years, the exemption amount will be inflation adjusted as provided in annual IRS guidance in determining whether an individual is a qualifying […]

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San Francisco Tax Preparation / CPA: Deadlines Extended for Qualified Opportunity Funds and Investors

Filed in CCH NEWS FEED by on July 10, 2020

The IRS has announced various extensions of deadlines for qualified opportunity funds and their investors due to the Coronavirus pandemic. 180-Day Investment PeriodGenerally taxpayers must reinvestment capital gain in a qualified opportunity fund (QOF) within 180 days after the gain is realized from a sale or exchange. Under the guidance, if the last day of […]

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San Francisco Tax Preparation / CPA: IRS Provides COVID-19 Related Safe Harbors for Determining Tax Status of Arrangements that Hold Real Property as Trusts

Filed in CCH NEWS FEED by on July 10, 2020

The IRS has released a revenue procedure that describes temporary safe harbors for the purpose of determining the federal tax status of certain arrangements that hold real property as trusts in response to the COVID-19 emergency. Specifically, the Service has provided temporary relief to arrangements that are treated as trusts under Reg. §301.7701-4(c) which are, or have […]

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