Will Business Meals Become Tax Deductible Again?

Will Business Meals Become Tax Deductible Again?

Will Business Meals Become Tax Deductible Again? Maybe.  Nothing is certain yet, but it appears President Trump might be looking into restoring corporate tax deductions for business meals. Under the 2017 Tax Act, deductions for many business entertainment expenses,...
Estimated Taxes 2020

Estimated Taxes 2020

Estimated Taxes 2020 We recently posted about how first quarter estimated tax payments are not due until July 15, 2020, due to the current coronavirus pandemic (this is also when 2019 income taxes are due for those who file their returns on or by April 15th). However,...
Are Cruise Lines Going to Get a Bailout?

Are Cruise Lines Going to Get a Bailout?

Are Cruise Lines Going to Get a Bailout? The $2 trillion stimulus bill passed Friday, March 27, 2020, in response to COVID-19.  Will the cruise lines, who are undoubtedly losing massive amounts of business right now get bailed out? Probably not.  Did you know most...
IRS Employee Retention Credit

IRS Employee Retention Credit

IRS Employee Retention Credit In response to the current COVID-19 pandemic, the IRS has made an employee retention credit available to many businesses.  Will you qualify? Generally, the credit is available to employers who fall into one of the following categories:...
IRS People First Initiative

IRS People First Initiative

IRS People First Initiative Yesterday, March 25, 2020, the IRS announced its “People First Initiative.”  The initiative was put into place to “help people facing the challenges of COVID-19 issues.”   The IRS Commissioner Chuck Rettig said, “The IRS is taking...
COVID -19 Statement from Your County Tax Collectors

COVID -19 Statement from Your County Tax Collectors

Here is an important document  from the California Association of County Treasurers and Tax Collectors (CACTTC) that pertains to the property tax installment payment in April. The tax and business law team at Mendes Weed LLP is on top of the developments and are here...

Tax Returns – The Innocent Spouse

Disclaimer: The tips and materials provided on this page are for informational purposes only, offered as public service. No information on this website should be considered legal advice or used as a substitute for legal advice. For legal advice, you should contact an...
When Do I Need a Tax Lawyer? Why?

When Do I Need a Tax Lawyer? Why?

As a tax lawyer, I’m commonly asked the questions, “When Do I Need a Tax Lawyer?” or “Why Do I Need a Tax Lawyer?” Here are the answers. You need a tax lawyer: Anytime you are audited by the IRS or State Taxing Agency Anytime you dispute the amount of tax asserted...
When Is Your Trust Taxable in California?

When Is Your Trust Taxable in California?

Generally, a trust is taxable in California if a fiduciary or beneficiary (other than a contingent beneficiary) is a resident of California under California Revenue and Taxation Code 17742.  This is true even if the original settlor was not a resident of California....
Top 3 Ways to Hack the Tax Cuts and Jobs Act

Top 3 Ways to Hack the Tax Cuts and Jobs Act

Update your W-4 Taxpayers can no longer claim a personal exemption.  Make sure you have proper wage withholding.  If you enjoy getting a refund when you file taxes, and you don’t want to owe, you will likely need to update your W-4 Get the medical procedure you’ve...
Repeal of State and Local Income Tax (SALT) Deduction

Repeal of State and Local Income Tax (SALT) Deduction

By now, you have probably heard that the 2017 Tax Cuts and Jobs Act has limited the deduction for state and local income tax (SALT) to $10,000 for all tax filers, including tax filers who file their tax returns as married filing jointly.  If you are a California...