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Los Angeles Tax Services – Local tax firm serving all Southern California

MyIRSRelief

If you own a property, a business, or are employed, you’ll likely have to pay taxes. According to the 16th Amendment in our Constitution, individuals are required to pay taxes from income sources. Taxes can be broken down into three categories: what you purchase, what you own, and what you earn.

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2023 Year-End Tax Planning Strategies for the Real Estate and Construction Industry

Cherry Bekaert

Contributor: Chelsea Payne , Senior Manager, Tax Services As the end of the year approaches, strategic planning remains crucial for taxpayers looking to optimize their financial positions and set the stage for a strong start in the upcoming fiscal year. The seller recognizes gains as the buyer makes payments of principal on the note.

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What Happens if a Business Doesn’t File Taxes?

xendoo

As a business owner, you probably know that you should file taxes on time. However, if you’ve fallen behind on taxes, you’re not alone. Over 33% of Americans procrastinate doing taxes until the last minute. Reasons for procrastinating taxes vary. What happens if a business doesn’t file taxes by the due date?

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Business Tax Rates: How Much Do Small Businesses Pay in Taxes?

xendoo

Filing taxes as a small business owner can be complex, with numerous factors to consider. From tax law revisions to the overwhelming number of forms, understanding your small business tax rate and how to file can be difficult. Your business entity type and preferred filing status will also affect your tax rate.