Beacon Accountancy and Business Services

Beacon Accountancy and Business Services Tax and Business Services located in Huntington Beach, CA

02/20/2025

Back and forth, Back and forth - well, it's back again. The dreaded and controversial Beneficial Owner Information filings.

This is NOT part of a business income filings, this is a compliance issue more like your business license or secretary of state filing. We are just bringing it to our business client's attention because the government has not been very good at making sure business owners are aware of their filing requirement - or the penalties for failing to file. You can read up on the requirements and file for free at https://boiefiling.fincen.gov/fileboir

The FinCEN notice concerning the Feb 18th court decision can be viewed here -https://fincen.gov/sites/default/files/shared/FinCEN-BOI-Notice-Deadline-Extension-508FINAL.pdf

It's that time again, new year, new laws going into effect. The two that may hit most employers are new minimum wage amo...
01/02/2024

It's that time again, new year, new laws going into effect. The two that may hit most employers are new minimum wage amounts and mandatory sick time increases.

Starting January 1, the new state minimum wage is $16 per hour, so make sure you update your payroll systems for any employees that may fall below that. Here is a list of cities and counties with higher minimum wages: https://laborcenter.berkeley.edu/inventory-of-us-city-and-county-minimum-wage-ordinances/ -2

Also starting January 1st, the minimum number of sick days employers must offer to employees - full or part time - goes up to 40 hours or 5 days per year.

Well, it's almost Tax Day... again...For those of you procrastinating after multiple deferrals from the government - ple...
11/09/2023

Well, it's almost Tax Day... again...

For those of you procrastinating after multiple deferrals from the government - please make sure you get your information to us so we can prepare your returns by the 16th.

11/08/2023

Quick word to student loan holders. While those with Federal Family Education Loans held by the Education Department do not need to take any action to benefit from the upcoming adjustment, FFEL borrowers with loans held by a private lender must apply for consolidation "no later than the end of 2023" to benefit from the account adjustment, per the department's guidance at StudentAid.gov

IRS efile systems are now open once again. Currently accepting individual and business returns for the current + 3 years...
01/24/2022

IRS efile systems are now open once again. Currently accepting individual and business returns for the current + 3 years back.

What can be more fun just days away from a major tax deadline than to move offices? But With a better location right on ...
10/07/2021

What can be more fun just days away from a major tax deadline than to move offices? But With a better location right on Beach Blvd, room for all three offices under one roof, and being much easier for our clients to get in and out of, we just couldn't resist.

So if you are coming by the office to drop off paperwork or sign some returns, be sure to stop in at our new location in Wind River Park.

18141 Beach Blvd, Ste 300
Huntington Beach, CA 92648

5 days to the deadline, and still plenty of questions to be answered. The biggest issue we have been running into is the...
05/12/2021

5 days to the deadline, and still plenty of questions to be answered. The biggest issue we have been running into is the stimulus payments - people aren't sure what they received, when they received it, if it counts when received in 2021. So lets cover that real quick.

The first and second round of "stimulus" payments were actually advances on 2020 tax credits. So if you did not receive them, or did not receive the full amount you were due, then you can claim it as a refundable credit on your tax return. It is worth taking a moment to look back and see what you deposited. And if you really cannot remember or figure it out, then go to https://www.irs.gov/payments/view-your-tax-account and find out.

AB 80 has been passed and signed. So for California Taxpayers with EIDL Grants they are no longer taxable income, and ex...
04/30/2021

AB 80 has been passed and signed. So for California Taxpayers with EIDL Grants they are no longer taxable income, and expenses paid with PPP Loan proceeds can be deducted on your return as long as you have a 25% drop in gross receipts one quarter.

Does that mean we are ready to move forward? Not yet. The FTB will still need to decide how they want this information submitted on the return, and the tax software companies will need to implement it. So if your personal return is affected by either of these items due to a Sch C or K-1 passthrough we are still recommending you file an extension and wait for final advice on this.

03/29/2021

Official word from the IRS that IRA contributions for the 2020 tax year can now be made as late as May 17, 2021.

We have been getting many calls concerning the IRS extending individual deadlines, so let's try to clear up some of the ...
03/23/2021

We have been getting many calls concerning the IRS extending individual deadlines, so let's try to clear up some of the confusion...

* The IRS has extended the filing deadline for INDIVIDUAL tax returns from 4/15/21 to 5/17/21. This includes the amount due with filling of your 2020 return.

* The May 17th extension includes IRA contributions for the 2020 tax year. So if you have not maxed out your retirement you do still have time to open and contribute to a traditional IRA.

* California FTB (and all but 8 states) have confirmed to the IRS extension and are also due 5/17/2021

* This doe NOT provide an additional extension for taxpayers located in disaster areas (Louisiana, Oklahoma and Texas). Their tax returns are still due June 15th

* Corporations and trusts have NOT been extended. They are still due April 15th

* 1st quarter estimates for 2021 have NOT been extended, they are still due April 15th

https://www.irs.gov/newsroom/tax-day-for-individuals-extended-to-may-17-treasury-irs-extend-filing-and-payment-deadline

Address

18141 Beach Boulevard, Suite 300
Huntington Beach, CA
92648

Opening Hours

Monday 7:30am - 6pm
Tuesday 7:30am - 6pm
Wednesday 7:30am - 6pm
Thursday 7:30am - 6pm

Telephone

+17148410995

Website

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