Tax Pro Plus
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Suite 204
Los Angeles, CA 90064
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Ph: (310) 827-4829
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- Converting Personal Vehicles to Business Use: A Comprehensive Guide
- Explore our comprehensive guide on converting personal vehicles to business use. Learn about the tax benefits, legal implications, and steps involved in this process. Maximize your tax savings with professional advice.
- Video Tips: Tax & Holiday Gifts for Employees
- It is common practice during the holidays for employers to give their employees gifts, but there are tax implications. Watch this video to learn more.
- What to Do When You've Made a Mistake on Your Tax Return
- Acknowledging a mistake on your tax return is the first crucial step. Learn the next steps.
- IRS Offering a Withdrawal Process for Ineligible ERC Claims
- The IRS has created a withdrawal option to help small business owners and others who were pressured or misled by ERC marketers or promoters into filing ineligible claims. Claims that are withdrawn will be treated as if they were never filed. The IRS will not impose penalties or interest. The IRS continues to warn taxpayers to use extreme caution before applying for the ERC as aggressive maneuvers continue by marketers and scammers.
- Kiddie Tax – What a Parent Needs to Know
- The Kiddie Tax was introduced in 1986 to prevent high-income parents from shifting their investment income to their children, who typically fall into lower tax brackets. While the term “Kiddie Tax” isn’t used in the tax code, it does succinctly describe this tax. The tax applies to unearned income, such as dividends, interest, and capital gains, of certain children under the age of 19, or under 24 if they are full-time students who aren’t self-supporting.
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