HRH Accountancy Corporation

If you received tips or overtime pay in 2025, you may be eligible for a new deduction when you file your income tax return. Both deductions can be claimed whether or not you itemize deductions. But various rules and limits apply. Also be aware that such income may still be fully taxable for state and local income tax purposes. And federal payroll taxes still apply to tips and overtime income you deduct for federal income tax purposes.

www.hrhaccountants.com

Most counties in California has extended the tax deadline to October 16th, 2023 this year for the 2022 tax year.

If you are in need of assistance, you can contact us.

https://www.irs.gov/newsroom/irs-may-15-tax-deadline-extended-to-oct-16-for-disaster-area-taxpayers-in-california-alabama-and-georgia

https://www.gov.ca.gov/2023/03/02/more-time-to-file-state-taxes-for-californians-impacted-by-december-and-january-winter-storms/

IRS: May 15 tax deadline extended to Oct. 16 for disaster area taxpayers in California, Alabama and Georgia | Internal Revenue Service IR-2023-33, Feb. 24, 2023 — Disaster-area taxpayers in most of California and parts of Alabama and Georgia now have until Oct. 16, 2023, to file various federal individual and business tax returns and make tax payments, the Internal Revenue Service announced today. Previously, the deadline had bee...

https://www.journalofaccountancy.com/news/2021/mar/irs-official-april-15-postponement-may-17-tax-filing-details.html?utm_source=mnl:cpald&utm_medium=email&utm_campaign=30Mar2021

IRS provides details on April 15 postponement The IRS issued a notice providing more details and clarification of its previously announced postponement of the April 15 tax deadline for individuals. The notice extends the date for making 2020 IRA contributions; however, it does not extend the date for estimated tax payments.

Updated tax deadline. May 17th, 2021.

IRS postpones April 15 U.S. tax deadline to May 17 The IRS is pushing back the deadline for the tax filing season about one month, to May 17 from April 15.

American Rescue Plan Act is expected to be signed by President Biden tomorrow.

American Rescue Plan Act passes with many tax components The $1.9 trillion coronavirus relief bill that passed Congress contains many tax provisions, including changes to the child tax credit and many other credits, making certain unemployment benefits tax-free in 2020, and a $1,400 recovery rebate credit for many individuals.

A trusted colleague of mines, Lon Lazar will be presenting on the topic "Prop 19: Counting California Property Wins and Losses after 2/16/2021" next Tuesday, Jan 26 at the regular Tuesday morning meeting of Golden Gate Networking BNI. Please join us if you're interested to hear how this landmark legislation will affect property values in California in the coming years. Below is a link with more information to register.

Lonnie Lazar on LinkedIn: Virtual Networking: Golden Gate Networking BNI I'll be presenting on the topic "Prop 19: Counting California Property Wins and Losses after 2/16/2021" next Tuesday, Jan 26 at the regular Tuesday morning...

New PPP guidance issued by SBA, Treasury The US SBA and Treasury released guidance for the revived and reconstituted Paycheck Protection Program. The guidance came in the form of two interim final rules, including one that details the guidelines for new PPP loans to businesses that previously received PPP funding.

https://www.eventbrite.com/e/golden-gate-virtual-networking-open-house-tickets-104084088310

Golden Gate Virtual Networking - Open House Virtual, open-house networking event to connect professionals and business owners and build long-term business relationships.

https://www.irs.gov/coronavirus/economic-impact-payments

Economic Impact Payments | Internal Revenue Service We’re committed to helping you get your economic impact, or stimulus, payment as soon as possible. See if you are eligible for an Economic Impact Payment.

Attention Business Owners,

One of my colleague and friend who I use to work under is having a FREE Seminar this Friday on Cash Flow Projections. As a tax professional working with many small business owners, Cash Flow Projection and management is essential to having a successful business. I recommend you all register and attend the free webinar!

Stay safe and healthy!

Cash flow is the word of the day lately! 💸 It's critical to have a handle on your cash flow in order to navigate your business right now. But what does that mean?! How do you actually do that? Where do you start?! 📈

I'm hosting a free Webinar this Friday, April 17 at 10am PST on Zoom. 🖥️

Make sure you REGISTER in advance!
https://zoom.us/meeting/register/tJwlcOivrDguHNEO9llSRttmhMkKUKhm_J6p

We'll talk about the basics of putting together a cash flow projection, and I'll provide a sample template to anyone that registers. And there will be time for Q&A. 🙋‍♀️ If you can't make it live, I'll send out a link to the recording to everyone that registers.

Hope you can join us. Let me know in the comments what questions you have about cash flow projections.

https://www.irs.gov/coronavirus/non-filers-enter-payment-info-here

Non-Filers: Enter Payment Info Here | Internal Revenue Service Steps to receive the Economic Impact Payment if you haven't filed a tax return for 2018 or 2019, and aren't receiving Social Security, SS Disability Income or Railroad Retirement benefits. This payment is also referred to as "stimulus checks" or "coronavirus relief."