If you are not required to file taxes and have not received your Economic Impact payment the deadline has been extended to Nov 21st. The deadline date for extensions remains Oct. 15th.
IRS.GOV
IRS extends Economic Impact Payment deadline to Nov. 21 to help non-filers | Internal Revenue Service
LC Arra Insurance and Tax Services updated their business hours.
Update for those who applied for a Refund Transfer when they filed there taxes...
COVID-19: Unemployment Insurance Claims- What to expect if you have already filed a claim...
https://edd.ca.gov/about_edd/coronavirus-2019/unemployment-claims.htm
EDD.CA.GOV
edd.ca.gov
When to expect Economic Impact Payments!
On Monday the IRS and Treasury Department announced payments would begin within 3 weeks. The IRS has indicated they may begin issuing direct deposit and check payments as early as April 9th with taxpayers is beginning to receive payments as early as the week of April 13th.*
* Information is extremely fluid and changing frequently.
First, there was the usual April 15th deadline. Then, there was July 15th. If you filed for an extension, your deadline was October 15th - and now that date has come and gone. What happens now if you missed it?
LCARRAINSURANCEAGENCY.COM
What Happens if I Missed the October 15th Tax Extension Deadline?
L.C. Arra Insurance & Tax Services has a fun tax fact to share with you.
Operating a SMB is hard work - and it's vital to know the financial health of your business at any time. Whether you're assembling your financial reports yourself or have hired professional help (like us), here are 12 metrics that can help you monitor your success.
LCARRAINSURANCEAGENCY.COM
12 Financial Metrics Small Business Owners Should Track
To say COVID-19 has made 2020 a disastrous year for just about everyone would be an understatement. However, 2020 has given rise to more than the usual tax-planning opportunities. Thus, you may find it appropriate to schedule a tax-planning appointment well before the close of the year to take advantage of the tax benefits and strategies available for 2020.
LCARRAINSURANCEAGENCY.COM
Don't Miss Out on Year-End Tax-Planning Opportunities
Transform your life. Wednesday Wisdom from L.C. Arra Insurance & Tax Services
Are you an investor in stocks, bonds, mutual funds, etc.? If so, when you sell those securities, you will undoubtedly want to minimize your gains or maximize your losses for tax purposes. To do that, you'll need to know your tax basis in the investment (asset), which makes it important to keep track of the basis in all your investments.
LCARRAINSURANCEAGENCY.COM
Are You Keeping Track of Your Investment Basis?
Transform your life. Wednesday Wisdom from L.C. Arra Insurance & Tax Services
If you plan to start a new business, there are a number of decisions and possible elections you can make that will influence what form of business you select and how you decide to deduct costs. These choices can affect the tax outcome of your business for years to come.
LCARRAINSURANCEAGENCY.COM
New Business? Tax Issues to Consider
An individual must have compensation in order to contribute to an IRA. However, a non-working or low-earning spouse is allowed to contribute to his or her own IRA based upon the compensation of the working spouse. Watch this video to learn more.
Looking for a sign? Here's your Monday Motivation from Corona based L.C. Arra Insurance & Tax Services
Covered California
November 10 at 8:00 AM ·
Now’s the time to review your health insurance options for 2021. Make sure your family has the coverage it needs at the best price. Watch to learn more and compare plans here: https://covrdca.com/2Hi37mH
Now’s the time to review your health insurance options for 2021. Make sure your family has the coverage it needs at the best price. Watch to learn more and compare plans here: https://covrdca.com/2Hi37mH
Here is a fun fact for your Friday from L.C. Arra Insurance & Tax Services.
Always make sure your return is signed by your tax preparer.
IRS.GOV
Beware of "ghost" preparers who don’t sign tax returns | Internal Revenue Service
Your Friday tax fact from Corona based L.C. Arra Insurance & Tax Services.
Although day trading is neither illegal nor unethical, it can be highly risky. Most individual investors do not have the wealth, time, or temperament to make money or sustain the losses that day trading can bring. Satisfying the rules that permit special tax treatment for day traders is difficult.
LCARRAINSURANCEAGENCY.COM
Day Trader Rules and Tax Treatment
Tap into your full potential. Wednesday Wisdom from L.C. Arra Insurance & Tax Services
If you were a victim of a major natural disaster, the Taxpayer Certainty and Disaster Tax Relief Act of 2020 has special rules about retirement plan and IRA distributions, retirement plan loans, how to compute disaster losses, and relief for non-itemizers. Employers may qualify for a new employee-retention credit.
LCARRAINSURANCEAGENCY.COM
Tax Relief for Victims of 2020 Natural Disasters
Get ready for the week: L.C. Arra Insurance & Tax Services has motivation for your Monday.
