Why Power of Attorney Helps Us Serve You Better
As we dive into the 2024 tax season, I wanted to reach out about something that will help us take even better care of you this year. Over the past few years, we’ve seen an increase in notices and letters from both the IRS and the California Franchise Tax Board (FTB)....
Welcome Our Newest Team Member – Mrs. Keren Woodin
Welcome Our Newest Team Member - Mrs. Keren Wooden Root Tax is expanding our team so that we can serve you better. We are pleased to introduce you to our newest member - Mrs. Keren Woodin. Keren joined us in the Summer of 2024 as our Office Manager to oversee all of...
Second Quarter Estimated Tax Deadline
The second quarter of the calendar year is now over, which means it’s time to start preparing documents to file for estimated taxes on earned income. The deadline to file estimated taxes in the second quarter is June 15. The Internal Revenue Service (IRS) requires...
Pass-Through Entity Quarter Election – Deadline Soon
The deadline to pay pass-through entity election taxes for the second quarter is June 15. If you’re unsure if this applies to you, here we explain what the pass-through election tax is and how it can benefit you. What is a Pass-Through Entity? A pass-through entity is...
2024 Update: New Tax Rules for Short-Term Rentals
Beginning January 1st, 2024, short-term rental owners should be aware of an important update – a new tax liability has been introduced that affects your rentals. If you own properties that you rent out through platforms like Airbnb or VRBO, or even a room in your...
Financial Resolutions for the New Year
The new year represents a great time to assess your finances and create a plan for setting and meeting your financial goals. Here are three financial resolutions that can make the new year a prosperous one. 1. Create a Budget Review your net income and expenses....
Preparing Your Finances for the End of 2023
The end of the year is coming up fast, and those last weeks of the year are full of the hustle and bustle of the holiday season. But there are a series of important items you should add to your to-do list before we say goodbye to this year and prepare for the next: 1....
Tax Updates for the Back-to-School Season: Extended Deadlines and CA AB150
We have two quick tax updates for you as we get ready for the back-to-school season: The IRS and the California Franchise Tax Board extended the tax filing and payment deadlines this year for most of California due to the winter storms late last year and early this...
5 Tips to Manage Your Finances
Whether you’ve established a monthly budget or just guess how much you spend every month, it’s important to evaluate your overall finances to make sure you are using your money wisely. Going over your financial paperwork also enables you to catch issues before they...
4 Common Business Accounting Mistakes (And How to Avoid Them)
Reviewing your financial paperwork throughout the year will help you ensure your records are accurate and organized. Proper management also enables you to spot issues and resolve them before they grow and become a major headache for your operations. Here are four of...