R. Greene & Associates, Inc.

12/04/2023

California employers-Gavin Newsom has signed a bill into law which increases paid sick time from 3 days to 5 days. Accrued sick leave must be carried over to the following year; however, an employer may limit an employee's use of sick time to 40 hours per year. No accrual will be required if each employee is given a full 40 hours at the beginning a calendar year, year of employment or some 12 month period. This new policy kicks in on 1/1/2024, so be sure to update your employee manuals and payroll policies.

10/30/2023

BIG ANNOUNCEMENT!! We are moving! Our new address in the VNuIT building off Thoroughbred Lane and the 76 will be 5425 Mission Road, Suite B in Bonsall, CA We will be moving over the next couple of days, so if you have issues please do not hesitate to call. Thank you for your patience during our transition.

07/12/2023

Thinking about creating a corporation or partnership to do business? Starting in 2024, you have to file a mandatory beneficial owner report with the Federal government within 30 days of the official formation of your business. The penalties for failing to do so are $500 per DAY. Existing businesses will have to start filing these reports in 2025.

01/01/2021

California small business grants. Apply now

https://careliefgrant.com/?fbclid=IwAR0GDWHJQQMRJ1Gc4WR5p6qJD3Ek91EvleHIhJUmZP_AuMx4uNIZeb3SrMs

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11/03/2020

Tuesday November 3rd. If you’re stopping by the office today, one or both of my dogs will be visiting. Contractors doing repairs at my house are grinding the concrete slab today and I don’t want them exposed to the dust and noise. Lexi has epilepsy and the repairs have been extremely difficult for her. Thanks for your understanding.

09/26/2020

Thinking about a refi? Don’t wait. Starting 12/1/2020 the FHFA which backs many mortgage loans is tacking on a $3,828 fee to all refinances. It will be hidden in lender charges and passed on to borrowers.

09/03/2020

We have been alerted by two clients that they have fallen victim to a ransomware scam that's started going around. The scammers accessed their computers and telephone and used the information there to gain access to bank and credit card accounts as well as merchant services account. We have not been compromised in any way, but I am posting this as a warning to everyone. NEVER open an email or click on a link inside of an email, Facebook post or Facebook Messenger if you weren't expecting something. Even if it looks legitimately like it's from a friend, colleague or even us, DON'T CLICK ON IT. One of the victims paid $5,000 and the computer was still inoperable.

09/02/2020

On August 8th, President Trump directed the Secretary of Education to suspend student loan payments, stop collection on defaulted loans and waive interest on all student loans through the end of 2020. These actions were initially enacted on March 20, 2020. Here is a FAQ from the government's Student Loan web page:

08/24/2020

Great news! The IRS is going to stop sending balance due notices until they finish opening their mail. If you sent the IRS a check and it hasn't been cashed, do not stop payment on it. The IRS will be backdating the date payment was received to the postmark date on the envelope. Be patient.

The IRS has stopped sending balance-due notices to taxpayers as it works to process its backlog of unopened mail. It is also working to correct certain erroneous penalties for some employers who reduced their payroll tax deposits to claim COVID-19 relief-related credits.

08/20/2020

Have you received an IRS notice for something you’ve already paid? You’re not alone. Although the IRS has some 35 million pieces of unopened mail due to the Covid shutdown, their computers have already started sending out notices and penalties. Tax advocates and the AICPA are urging the IRS to halt the automated notice process until they catch up on the unopened mail.

08/17/2020

Gambling income is not without consequences. Depending on your other income, gambling winnings can trigger Net Investment Income Tax (3.8% - aka Obamacare Tax), can cause more of your Social Security income to be taxable, can cause you to pay more in Medicare premiums, and may make some of your other itemized deductions non-deductible for state tax purposes. If you have high gambling income, you should talk to your tax preparer about the tax consequences that may affect you.

08/11/2020

The IRS is closing some post office boxes. If you sent a check and it was returned, here’s their FAQ on the matter.

Department of the Treasury, Bureau of Fiscal Service, announced the closure, effective July 1, 2020, of certain Post Office box addresses in Hartford, CT and Cincinnati, OH for business taxpayers and practitioners sending payments or tax forms. Any payment or tax form sent to those PO Box addresses....