Diversified Accounting & Tax Services Inc.

01/14/2025

Fyi Tax Season opens for filing Jan 27th, 2025 keep in mind not all forms will be final on that date. Make an appt early! Please!

12/02/2024

BE CAREFUL I just got this in my email, it is a scam, dont click on the links

11/05/2024

There is a new reporting requirement for companies. If you incorporated before 2024 you have until 1/1/25 to file your BOI, if you incorporated in 2024, you have 90 days from incorporation. Any new corporations will have 30 days from incorporation. There is a website that explains what needs to be done and more info, link below, but here is who must file-

Your company may need to report information about its beneficial
owners if it is:
1. a corporation, a limited liability company (LLC), or was
otherwise created in the United States by filing a document
with a secretary of state or any similar office under the law of a
state or Indian tribe; or
2. a foreign company and was registered to do business in any U.S.
state or Indian tribe by such a filing

Secure .gov websites use HTTPS A lock () or https:// means you’ve safely connected to the .gov website. Share sensitive information only on official, secure websites.

10/25/2024

If you have any idea of buying a clean/electric vehicle before year end 2024, make sure and do it through a dealership that is able to transfer the credit to the purchase price so you are not limited by your tax liability come tax time. Most will get the full credit, up to $7500, even if their tax liability is less, and there is not a requirement to pay any back if the liability is not $7500. It in effect makes it a refundable credit.

10/22/2024

Don't say yes on sales or unknown calls

10/07/2024

I week to final fiscal tax deadline, everyone got their stuff in to their preparer?

Send a message to learn more

02/22/2023

For any employer with 15 or more employees-

Pursuant to the pay transparency laws under Labor Code Section 432.3, including recent amendments, an employer with 15 or more employees shall include the pay scale for a position in any job posting, and if that employer engages a third party to handle the job posting, the third party shall include the pay scale in the job posting. (Lab. Code §§ 432.3(c)(3), (c)(5).) The law applies to postings for jobs that may be filled or performed in California, either in-person or remotely.

06/01/2022

Any non profits up and running for a year as of Feb 2020 with less than 20 employees, with COVID related hardship, you may qualify for this grant?

https://www.sandiegocounty.gov/content/sdc/stimulusgrant/smallbusinessgrantelgibility.html?fbclid=IwAR34ghKf5zM9L6xSh5h6s3969s2vaGjurQRVTvmpAfhc1DvYPg7JqqzoO5Y

02/27/2022

Please everyone remember it isn't safe to email any forms with your social on it, even if it's only the last four digits. Think about it, when you call somewhere what do they ask you for..... the last four of your social. Remember this when doing a house loan. I had an escrow officer tell me this week they could email it to client because their email was secure, problem is the client's isn't. Please fax, you can use mine.

02/16/2022

For anyone serving on a non-profit or even a Corp Board- Please be aware you carry personal liability when gross-negligence occurs and in other similar issues. Meaning when someone is dishonest or acts outside the articles and bylaws. Make sure the boards you are on are honest and ethical and follow the rules established for and by them. Most people don't know they personally can be held responsible for monetary costs and other issues when there is a conflict. Board members can carry this liability equally so please only work with Board members that are professional and knowledgeable.

11/01/2021

California state law requires California employers to participate in CalSavers if they do not sponsor a retirement plan and they have 5 or more employees. Each activity must be completed by specific deadlines. Here is the link https://www.calsavers.com/

CalSavers is a retirement savings program for private sector workers whose employers do not offer a retirement plan. This program gives employers an easy way to help their employees save for retirement, with no employer fees, no fiduciary liability, and minimal employer responsibilities.

Employers with five or more employees must participate in CalSavers if they do not already have a workplace retirement plan. The following deadlines to register are based on the size of the business.

CalSavers deadlines by business size.
Size of Business Deadline
Over 100 employees September 30, 2020
Over 50 employees June 30, 2021
5 or more employees June 30, 2022

CalSavers is California’s new retirement savings program designed to give Californians an easy way to save for retirement. Visit our website today to learn how you can create a better path to retirement.

09/17/2021

The House Ways and Means Committee has advanced by a largely party-line 24-to-19 vote a sweeping tax reform proposal of $2.2 trillion in tax increases along with approximately $1.3 trillion in tax breaks. The congressional tax-writing committee spent four days marking up the tax reform package, which Democrats hailed as their “historic” achievement when it cleared the committee this week.

Generally, the tax provisions include some of the following proposals:
• return to a corporate income tax rate structure with a top rate of 26.5 percent;
• restore the 39.6 percent top marginal individual rate for single filers making above $400,00, for head of household filers above $425,000, and for joint filers above $450,000;
• raise the capital gains rate to 25 percent;
• overhaul the international tax regime;
• extend the American Rescue Plan Act's Child Tax Credit expansion through 2025, and make the entire credit fully refundable on a permanent basis;
• over $200 billion in energy tax credits;
• expand the 3.8 percent net investment income tax(NIIT);
• limit the maximum value of the Section 199A qualified business income passthrough deduction to $500,000 for joint filers and $400,000 for single filers; and
• make permanent the active passthrough loss limitation enacted in the 2017 tax reform legislation known as the Tax Cuts and Jobs Act (TCJA).
The committee-approved measure now heads to the House Budget Committee where it will be packaged together for consideration on the House floor. The fiscal 2022 budget resolution (S Con Res 14) allows Democratic leaders to use the reconciliation process to enact legislation that can evade the Senate’s 60-vote threshold if it adheres to certain budgetary rules.