Easier Access to Labor Complicates Workers’ EDD Classification – Contractor vs. Employee You are an innovator. You have identified an underserved market, developed an application to facilitate the supply of the desired services, and found a pool of suppliers with the flexibility and motivation to provide such services. Now you can relax and let the
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What is the 2021 Advance Child Tax Credit?
What is the 2021 Advance Child Tax Credit? The Advance Child Tax Credit payments are early IRS payments of 50% of the estimated amount of the Child Tax Credit you may claim on your 2021 tax return. Meaning, you can receive half of your Child Tax Credit for each qualifying child in equal payments for
The Tax Gap: What It Means To You
Tax Gap The tax gap is a topic that has found its way into the news recently. Pundits are looking to how the Biden Administration’s ambitious (yet costly) infrastructure and COVID 19 relief bills will get funded. Although the latest revision of the infrastructure bill no longer contains increased funding for the IRS to close
What is an Opportunity Zone?
What is an Opportunity Zone? The Opportunity Zone (“OZâ€) was originally discussed in Congress after the Great Recession of 2008, with an intent to lift Americans out of poverty and bring economic and community revitalization to the areas that were deeply affected by the 2008 economic downturn. Congress created section 1400Z under the 2017 Tax
RJS LAW San Diego Welcomes Of Counsel Andrea Cisneros Valdez
June 24, 2021 Andrea Cisneros Valdez has joined RJS LAW San Diego as an Of Counsel attorney. Ms. Cisneros Valdez brings her experience and knowledge to the firm’s Estate/Tax Planning, and Controversy Practice Groups. SAN DIEGO, CALIFORNIA – RJS LAW is pleased to announce Andrea Cisneros Valdez has joined the San Diego office as an Of
Crypto – A short guide to cryptocurrency and your taxes
Cryptocurrency and Taxes Cryptocurrency is more popular now than ever. You have probably seen reports of rapid, sometimes massive gains and losses in virtual coins such as Bitcoin, Etherium, and Dogecoin. However, these reports do not address what cryptocurrency is, how one obtains and manages it, or what tax implications are generated when trading in
What Is A Tax Lien?
What Is A Tax Lien? Lien on me Tax Liens are a powerful weapon in the arsenal of the IRS and other taxing agencies including the Franchise Tax Board (FTB), California Department of Tax and Fee Administration (CDTFA), and Employment Development Department (EDD). A Notice of Federal Tax Lien (or notice of State Tax Lien)
Bankruptcy and Taxes
Bankruptcy and Taxes As a tax attorney, I am often asked if taxes can be discharged in bankruptcy. The answer to that question is . . . sometimes. Even when bankruptcy is available for a tax debt, bankruptcy may not be the best option for a person with a tax debt. Some tax debts are
Working From Home – Can You Claim a Home Office Deduction on your IRS Tax Return?
Home Office Deduction John Doe is an accountant for Pizza Palace, Inc. With California under mandatory lockdown, due to the COVID-19 pandemic, John found himself forced to work from home for nearly all of 2020. He created a home office in his spare bedroom where he would work remotely. His friend, Paula Peterson, is a
WHERE’S THE MONEY, LEBOWSKI? CALIFORNIA PROPOSITION 19
THE GOOD THE BAD AND THE UGLY California Proposition 19 Proposition 19, formally titled The Home Protection for Seniors, Severely Disabled, Families, and Victims of Wildfire or National Disasters Act (Prop 19) was narrowly passed by California voters on November 3, 2020, with 51.1% of the total vote. Despite Prop 19’s heartwarming title, its primary