Archive | December, 2011

What IS Use Tax, and Why Do I Have to Pay It?

Amazon has been in the news a lot lately because of their affiliate programs and not charging their California customers state sales tax on their purchases. The definition of use tax from the Franchise Tax Board website is as follows: Use tax is a separate tax that is generally due on the purchase of tangible […]

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December Tips for Savings Accounts and Estate Planning

Are you looking to take advantage of any tax breaks available by the end of the year? It’s a good idea if you are positioned correctly. If you are a W2 employee, there is not much time left for you to augment your 401(k) savings. IRAs allow you to contribute until April 15, but 401(k)s […]

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What Purchases O.C. Small Businesses Should Make Before 2012

We’re counting down to the end of the year! It’s time to make those purchases that you’ve been putting off all year, but that you’ll know you’ll use in 2012, and for years to come. Do keep in mind that what you’re doing is buying a tax deduction—and spending money just to save money on […]

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Anaheim Hills Accountant Answers: What IS a Business Expense?

Here’s another one of those questions I get asked a lot: Why isn’t that a business expense? Primarily because there’s a difference between what the IRS defines as a business expense and what we’d like to write off as a business expense. Let’s start with an example. Say you’re working late on a project, and […]

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