What is the phone number for Stamos and Stamos in Villa Park CA?

You can reach them at: 714-998-0311. It’s best to call Stamos and Stamos during business hours.

What is the address for Stamos and Stamos on santiago boulevard in Villa Park?

Stamos and Stamos is located at this address: 17871 Santiago Boulevard Villa Park, CA 92861.

What are Stamos and Stamos(Villa Park, CA) store hours?

Stamos and Stamos store hours are as follows: Mon-Wed: 8:30AM - 5:00PM, Thu: 9:00AM - 5:00PM, Fri: 8:30AM - 5:00PM, Sat: Closed, Sun: 9:00AM - 5:00PM.

Stamos and Stamos on santiago boulevard, Villa Park, CA

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Have you chosen the retirement plan that meets your needs? Choosing the right vehicle and home for your retirement savings is just as important as saving for retirement in the first place. Your retirement plan dictates how much you can contribute annually, how it's taxed, how withdrawals work, and even what you can invest in and how much you pay in fees. At Stamos and Stamos we are working with our clients, their financial planners, attorney and bankers. and even landlords. We are helping them with financial and tax strategies, accounting, budgets and a whole lot more! Stamos and Stamos. Strength in numbers!

Corona Virus induced recession hitting you hard? There is talk of a second round of PPP funding for hard-hit businesses. That second round has not yet been set in stone, but lawmakers have acknowledged the need for additional small-business aid in the course of their stimulus deal negotiations, and Republicans have gone so far as to include a second PPP round, with stringent requirements, in its recently proposed HEALS Act. Stay tuned! As always, we have our ears to the tracks and will keep you notified as soon as we hear. Stamos and Stamos Strength in numbers!

It is never too early to get ready for tax season! Start planning today to save on the trifecta... Money, time, and stress! We have been standing beside our clients for the last 25 years and we're not going to stop now! Reach out to Stamos & Stamos CPA Firm whenever you have a financial question! 714-998-0311

Its Friday in America! Can't wait to get outside and enjoy our great country! From everyone at Stamos & Stamos - Have a great weekend! Stamos and Stamos More than a CPA Firm! 714-998-0311

Is your in-house bookkeeper closing your books each month? Do they even know what that means? Frustrated because your books make no sense? Our accounting services will provide you with the tools you need from basic bookkeeping and payroll to full CFO level consulting. We will insure that you have the best information and data to make the those strategic decisions. At Stamos and Stamos we are working with our clients, their financial planners, attorneys, bankers and even landlords. We are helping them with tax strategies, accounting, budgets and a whole lot more! Stamos and Stamos More than a CPA Firm! 714-998-0311

At Stamos and Stamos we combine strategic thinking with our financial and tax experts. We give our clients the competitive edge they need to grow their business. We offer a free consultation by a CPA. Give us a call and take advantage now! At Stamos and Stamos we are working with our clients, their financial planners, attorneys, bankers and even landlords. We are helping them with tax strategies, accounting, budgets and a whole lot more! Stamos and Stamos More than a CPA Firm! 714-998-0311

Remember, its tax planning season. Make an appointment with us soon to get that much needed check up before the year gets away from us! Its Friday in America! From all of us at Stamos and Stamos, have a great weekend! Stamos and Stamos Strength in numbers

Looking to relocate? Be smart in picking a place to live Are you're looking to relocate? Being tax-savvy can save you a lot of money. Selling your home? Exchanging rentals? These transactions can all have big tax consequences. Some states don't impose income taxes at all, while others have low income tax levies combined with reasonable rates for other types of taxes like sales tax and property tax. Taxes shouldn't drive your entire living decision, but it's worth taking into account if you're already considering a move away from your current home. Gives us a call. We prepare taxes and have clients in literally dozens of states. Stamos and Stamos Strength in numbers!

Wondering why you have to pay taxes on Social Security money you receive? Under certain circumstances, Social Security benefits become taxable. Specifically, if the sum of your outside income and one-half of your Social Security adds up to more than $25,000 for singles or $32,000 for couples, then a portion of your benefits can be subject to tax. We can help you keep your outside income lower for tax purposes, so it is not added to the Social Security benefits. This will leave all or some of your Social Security untaxed as well. We have several strategies that can help you keep more of that hard earned money in your pocket! At Stamos and Stamos we are working with our clients, their financial planners, attorney and bankers. and even landlords. We are helping them with financial and tax strategies, accounting, budgets and a whole lot more! Stamos and Stamos Strength in numbers!

Whether you are starting a new business or have been in business for years, the struggle to manage your business can be frustrating. Don’t have the right information? Bookkeeper not really up to the task? Do I need to outsource this work? Should I try to do it myself? Can my assistant or spouse just do it? We are developing great useable systems for our clients. In some cases we are even acting as their virtual CFO. All that and often reducing their administrative fees! Give us a call! Lets get you started to obtaining better information that will help you manage your business. We are assisting our clients with their accounting system, financial and tax strategies, budgets and a whole lot more! Stamos and Stamos Strength in numbers!

Looking to relocate? Be smart in picking a place to live. Being tax-savvy can save you a lot of money. Selling your home? Exchanging rentals? These transactions can all have big tax consequences. Some states don't impose income taxes at all, while others have low income tax levies combined with reasonable rates for other types of taxes like sales tax and property tax. Taxes shouldn't drive your entire living decision, but it's worth taking into account if you're already considering a move away from your current home. Gives us a call. We prepare taxes and have clients in literally dozens of states. Stamos and Stamos Strength in numbers!

With the invention of the desk top computer and software programs like Quickbooks clerical workers have been thrust into positions that were previously reserved for those with training and experience. The old saying, “garbage in garbage out” has never been more accurate. We are developing great useable systems for our clients. In some cases we are even acting as their virtual CFO. All that and often reducing their administrative fees! Give us a call! Lets get you started to obtaining better information that will help you manage your business. We are assisting our clients with their accounting system, financial and tax strategies, budgets and a whole lot more! Stamos and Stamos Strength in numbers

Let’s be honest, most business owners didn’t go to school to be a full charge bookkeeper or accountant. This is often why they hire staff to handle these tasks. Guess what? More often then not the staff isn’t anymore prepared to correctly handle these tasks than the owners. We are developing great useable systems for our clients. In some cases we are even acting as their virtual CFO. All that and often reducing their administrative fees! Give us a call! Lets get you started to obtaining better information that will help you manage your business. We are assisting our clients with their accounting system, financial and tax strategies, budgets and a whole lot more! Stamos and Stamos Strength in numbers! 714-998-0311

Friday in America! Have a safe and healthy weekend! All the best from Stamos and Stamos. Strength in numbers!

Stay tuned. Congress is still meeting and there may still be more changes!

Self-employed with children? Chances are your children will consistently discover a path to your pockets. Rather than simply offering it to them, why not put them to work? With the current tax plan, the first $12,000 earned for them will not be taxable. Their pay will likewise fill in as a business tax deduction for you, bringing down your taxable income. There are a couple of things to remember with this strategy. To start with, ensure the rate of pay sensible. Unreasonable payments to children may trigger an IRS review. Furthermore, be aware of your youngster’s age. The IRS may consider a kid under age 8 unequipped for performing obligations vital for a business. At Stamos and Stamos we are working with our clients, their financial planners, attorney’s, bankers and even landlords. We are helping them with financial and tax strategies, accounting, budgets and a whole lot more! Stamos and Stamos Strength in numbers!

Do you know about HSAs? HSAs are a vehicle for individuals save pre-tax income into a particular account and pull back the assets for medicinal purposes. By setting pre-tax cash aside, you bring down your taxable income! HSAs can be utilized towards any medicinally related costs, for example, remedies, eyeglasses, restorative supplies and that’s only the tip of the iceberg. At Stamos and Stamos we are working with our clients, their financial planners, attorney’s, bankers and even landlords. We are helping them with financial and tax strategies, accounting, budgets and a whole lot more! Stamos and Stamos Strength in numbers

Its not too late to tax plan for 2020! Does your work provide a 401(K) to contribute to? If so, exploit it! The basic employee contribution limit for 2020 is $19,500, $24,500 if over 50. It is deducted from your paycheck and kept into your 401(K) account. It’s a great way for you to pay yourself and get a deduction against your taxable income! At Stamos and Stamos we are working with our clients, their financial planners, attorney’s, bankers and even landlords. We are helping them with financial and tax strategies, accounting, budgets and a whole lot more! Stamos and Stamos Strength in numbers!

QBI deduction - You may qualify for this deduction if you had business income from a sole proprietorship, partnership, S corporation, trust, or estate. The qualified business income deduction, also called the QBI deduction, lets you deduct up to 20% of that income. You may also qualify if you had income from REIT dividends or from a publicly traded partnership (PTP). This deduction is available right on Form 1040 and you don’t need to itemize to claim it. This deduction can be a bit tricky and has some limits. Contact your CPA or financial planner for help. We are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

At the Tails that Teach Golf Tournament last Friday with Henry DiCarlo, Channel 5 Weather correspondent and Eric Bryant from Quest Financial. Had a great time and raised some money for a great cause! The Tails That Teach books are provided to schools to encourage literacy and to introduce core values of kindness, compassion, and empathy for students in Kindergarten to 2nd grade.

HSA contributions Just like the IRA deduction, you can deduct any health savings account contributions you made using money you already paid income tax on. This deduction isn’t available for contributions that come directly out of your paychecks. Its not too late set these up and fund them for 2020! Contact your CPA or financial planner for help. We are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Health insurance premiums for self-employed workers Self-employed taxpayers may be able to deduct their health insurance premiums, as well as premiums for dental and long-term care insurance. You can also include any premiums you paid for your spouse, your dependents and your non-dependent children who are under age 27. Its not too late set these up and fund them for 2020! Contact your CPA or financial planner for help. We are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Retirement savings for self-employed individuals Self-employed individuals and small business owners can deduct their contributions to retirement accounts. This deduction applies to 401k’s, SEP IRAs, SIMPLE IRAs and similar retirement plans. Its not too late set one of these up and fund it for 2020! Contact your CPA or financial planner for help. We are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Contact your CPA or financial planner for help. We are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311 Stamos & Stamos Certified Public Accountants a Professional Corporation 17871 Santiago Blvd. #227 Villa Park, CA 92861 Phone(714)998-0311 Fax(714)998-2434

Use current losses for quick refunds!!! The CARES Act resurrected a provision allowing businesses to use current losses against past income for immediate refunds. Net operating losses arising in tax years beginning in 2018, 2019 and 2020 can be carried back five years for refunds against prior taxes. These losses can even offset income at the higher tax rates in place before 2018. Companies should consider opportunities to accelerate deductions into a loss year to benefit from this rate arbitrage and obtain a larger refund. Contact your CPA or financial planner for help. We are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Make up a tax shortfall with increased withholding!!! The COVID-19 related recession may have created cash-flow problems for some of you. Taxpayers should make sure their withholding and estimated taxes align with what they actually expect to pay. While they have time to fix a problem. If they find themselves in danger of being penalized for underpaying taxes, they can make up the shortfall through increased withholding on their salary or bonuses. Contact your CPA or financial planner for help. We are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Between the presidential election and the COVID-19 pandemic and its attendant stimulus packages, this year has seen more than its share of uncertainty around tax — which makes tax planning more crucial. Today’s tip! Typically, there is no tax benefit for giving to charity unless you itemize deductions. However, the CARES Act created an above-the-line deduction of up to $300 for cash contributions from taxpayers who don’t itemize. Contact your CPA or financial planner for help. We are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Zoom fatigue killing you? Stamos&Stamos wishes you a Happy Halloween!

What's the 2020 tax rate on long-term capital gains and qualified dividends? Did you know that Investors enjoy a tax break on certain types of investment income? Dividends that certain stocks pay qualify for lower tax rates, as do the profits on investments that you sell after having held them for longer than a year. These qualified dividends and long-term capital gains are eligible to get taxed at 0%, 15%, or 20%, producing substantial savings. Contact your CPA or financial planner for help. We are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Thank goodness its Friday! At Stamos and Stamos we hope you all have a restful, safe and fun weekend! We are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

PPP loan forgiveness! We were hopeful that there would be some legislation that would automatically forgive any loans under $150,000. Legislation on this has not yet been approved and the chances of that happening before the December 31st are pretty slim. The requirements for having your PPP loan forgiven are surprisingly lenient. It is, however, vital that you understand and follow the requirements for forgiveness. Otherwise, you will not qualify for loan forgiveness. Contact your CPA or financial planner for help. We are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

The voting is complete. Its time to focus on something we can control: your 2020 tax bill! It’s going to be a pretty bumpy ride in the political world. That said we may not see a whole lot of new legislation in the first quarter of 2021. Either way, rates may not get any lower. This may be the last chance to take advantage of things like capital gains rates and lower top end tax rates. Todays tax tip, consider converting some or all of a traditional individual retirement account to a Roth individual retirement account. You’ll pay tax on the conversion, but at this year’s lower rate. Contact your CPA or financial planner for help. We are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Its time to set aside our feelings over post-election tax policy and focus on something we can control: your 2020 tax bill! This year may be the year to move deductions back into 2021 and income into 2020. As painful as that may sound ( paying out taxes sooner ) the rates may be more favorable this year than next. Contact your CPA or financial planner for help. We are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Today’s Tip! Say goodbye to debt! Monthly debt payments are the biggest money suck when it comes to saving. Debt robs you of your income! So, it’s about time you get rid of that debt. The fastest way to pay off debt is with the debt snowball method. This is where you pay off your debts in order from smallest to largest. Sounds kind of intense, right? Don’t worry, it’s more about behavior change than numbers. Once your income is freed up, you can finally use it to make progress toward your savings goals. Contact your CPA or financial planner for help. We are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

These are certainly crazy times. Many people are stressed over the virus, elections or frankly both. So many things happening in the world that are out of our control. One thing we can control is to plan for our taxes and budget for next year. Planning for you financial future can help ease stress and help one take back a big part of their life. Contact your CPA or financial planner for help. We are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Thank goodness 2020 is coming to an end! That said Don't miss out on opportunities to save on taxes and maximize your income. Contact your CPA or financial planner for help. We are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

The CARES Act, which was passed last March as a result of the growing coronavirus pandemic, provides relief in many ways. Today’s tip, there are new and temporary rules about net operating losses, or NOLs. If your business loses money this year, regardless of whether it was pandemic-related, you may be able to get money back from the government faster than you were able to before. Contact your CPA or financial planner for help. We are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Tax tip of the day. Currently, the mortgage interest deduction allows homeowners to deduct interest on up to $750,000 of mortgage debt, with higher grandfathered deductions on up to $1 million in debt applying to those who had such mortgages outstanding before the beginning of 2018. Certain home equity loans used to purchase, build, or improve your home also qualify for the interest deduction. There were several changes to this deduction that were introduced in 2018. Contact your CPA or financial planner for help. We are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Black Friday tips for a great buying experience! Compare your options. Sometimes brand loyalism should be left at home. Worried about the Virus? Avoid the queue and buy online. Shopping centers are bound to get severely packed with eager shoppers. If you're not one to withstand the crowds it is better to sit. Don’t spend beyond your means��In case you do get caught up in the buzz of the day, try not to get trapped in a bad financial position. Think about the days that will follow. Most importantly, have fun! Next week ( most weeks the rest of the year) we are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Happy Thanksgiving from all of us at Stamos and Stamos, CPAs. Have a blessed day!

Your business is losing money, if your accounting isn't perfectly in order. In fact, your biggest expense is probably bad accounting. We have clients in 30+ States and have for over 25 years, and something we consistently see when we look at our clients financials is that they're losing money hand over fist in places they don't even know are affecting their profit margins. You can't fix what you can't see, but that's where we come in! When we work with a new client, we're more than just a CPA firm, we're an entire CFO team built to save and make you more money at the same time. From bookkeeping and payroll to tax and financial planning, we guide our clients through every financial decision like our own business is at stake. We know you care about your profit margins, and so do we, there's nothing that we love more than seeing our clients grow and succeed. Find out how our Outsourced CFO Service can change your business for the better! Stop losing money you should be keeping Don't Wait! Tax Season is right around the corner! Click the Link! STAMOSANDSTAMOSCPA.COM Your Business Is Leaving Money On The Table

Are you an April 15th tax planner? Do you hate taxes so much that you just don’t want to think about it until you meet with your accountant in March? Tip of the day. Break the cycle and save big! There are numerous deductions and savings strategies that you can put in place before the end of the year. Not sure how to start? That’s were we can help. Contact us for help! We are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Unless you have a get out of jail free card, you better start tax planning! Not sure how to start planning for the unexpected? That’s where we can help. Contact us! We are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Not sure how to start planning for the unexpected? That’s where we can help. Contact us for help! We are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Wondering what the impact of capital gains or losses will have on your taxes? Are you and your financial planner considering the impact of taxes on your portfolio? When selling investments in your account, does your planner first look to sell those that you've held for a longer time period? This strategy can help you take advantage of lower long-term capital gains tax rates. Some investment firms wait until year end to search for tax-loss harvesting opportunities, others ignore those opportunities entirely. Not sure what a tax smart portfolio is supposed to look like? That’s were we can help. Contact us! We are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Tired of the bumpy ride that is 2020? Sorry, there may be more obstacles ahead. Just as experience and reflexes help a race car driver navigate through the turns at Daytona, with knowledge and resilience, you can prepare yourself and your business for what may be ahead. One thing is for sure, putting your head in the sand and hoping for the best may put your future in someone else’s hands. Not sure how to start planning for the unexpected? That’s where we can help. Contact us for help! We are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Take a break from Holiday shopping and plan for this tax season. Not sure if you should itemize or take the standard deduction? You should always choose the one that provides the most tax savings. When you itemize, you can deduct a number of expenses including medical and dental bills, mortgage interest and charitable donations. It’s possible to bundle these expenses in one year and take the standard deduction in the next year. This provides maximum savings. Not sure how to start? That’s where we can help. Contact us for help! We are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Confused by all the COVID tax law changes? Not sure how to start? That’s where we can help. Contact us for help! We are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

The holiday season is upon on us. Lockdowns have been reestablished. I’ve sat with many clients in the past nine months and talked through some tough issues. We’ve helped them create a plan of attack to get through these tough times and years to come. With over 30 years of experience in the field we’ve seen a lot ups and downs. There are many ways to weather a financial storm. Most importantly we need to keep our cool and implement our plan. Not sure how to start? That’s where we can help. Contact us for help! We are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers!

With the new lockdowns, California has rolled out temporary tax deferrals including an automatic three-month income tax extension for taxpayers filing less than $1 million in sales and the expansion of interest-free payment agreements to companies with up to $5 million in taxable sales, according to the governor’s office. The deferrals would also provide expanded interest-free payments to industries heavily impacted by the coronavirus restrictions such as bars, restaurants, hair salons and personal services businesses. Not sure how to use these breaks? That’s where we can help. Contact us for help! We are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Frustrated with more lockdowns? California has developed a new $500 million Covid Relief Grant program for small businesses impacted by the pandemic. The program would provide grants of up to $25,000 to small businesses and nonprofits. Need help finding these funds? Not sure how to start? That’s where we can help. Contact us for help! We are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Have a poorly performing investment taking up space in your portfolio? Unloading it could cut your tax bill. First, you can use investments losses to offset comparable gains -- which means that if you're looking at a $2,000 gain and a $2,000 loss, they'll simply cancel each other out and remove the tax burden triggered by your initial profit. But just as importantly, if your net investment losses exceed your gains during any given tax year, you can use up to $3,000 of them to offset your ordinary income. And if you're still left with a net loss after that, you can carry the remainder over into future tax years. Not sure how to execute this strategy? That’s where we can help. Contact us for help! We are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Supporting your favorite causes won't just make you feel good; it'll help you lower your taxes. Any time you donate to a registered charity, you can take a deduction for the amount you give away. Don't have cash to contribute? Clean out your attic and cull your closets, because you can also take a deduction for donating goods, provided you retain a detailed receipt. That said, make sure to only claim the current fair market value (not the original cost or value) of the items you're parting with. Not sure how to start? That’s where we can help. Contact us for help! We are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

One of the best ways to cut your taxes is to set money aside in a tax-deferred retirement account. Not only are you doing the wise thing by saving for a winning retirement – you could trim your income enough to fall into a lower tax bracket. Not sure how to start? That’s where we can help. Contact us for help! We are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Its Friday in America. The holiday season is in full swing. Please have some fun this weekend! The accounting issues, taxes and business stuff will be there on Monday. Overwhelmed with the current times? That’s where we can help. Contact us for help! We are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Year end is here ( thank goodness). Its not too late to save on your taxes. Today’s tip. Accelerate expenses. Individual taxpayers are on the cash basis for income tax purposes. This means your income is taxable when you receive it and expenses count when you pay them. Depending on your situation, shifting deductions between years can make a big difference on your tax bill. With this knowledge, making additional deductible payments prior to the end of the year may be a good idea. Examples include property tax payments, mortgage interest payments and charitable donations. Not sure how to start? That’s where we can help. Contact us for help! We are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

End of Year tax Help!!!!

The tax deadline is fast approaching, but there are still a few tools left in the tax toolkit that can be used to lower your tax obligation, even at this late stage. Todays tip, Contributing to an HAS. Many people don’t know but as with IRAs, the HSA contribution deadline is also at the April 15th tax deadline. Not sure how to start? That’s where we can help. Contact us for help! We are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

FSA (Flexible Spending Account) and HSA (Health Savings Account) are tax-advantaged accounts for healthcare expenses. They both have limits on eligibility and the amounts that can be contributed. They are both a great way to keep your hard earned money in your pocket, but only if you qualify. Not sure how to start? That’s where we can help. Contact us for help! We are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Year end is coming, but It’s not too late to stay ahead of the tax man. Not sure how to start? That’s where we can help. Contact us for help! We are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Today’s year end tip! Account for Inventory! Its required that all business’ with inventory get an accurate count at year end. If your business has physical inventory, complete an inventory check before year-end. Match your inventory totals to your balance sheet. If you find discrepancies between your count and balance sheet, adjust. Accounting for inventory at year-end can help you know how much you spent on inventory during the year and its value. Not sure how to start? That’s where we can help. Contact us, we are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Merry Christmas to all our friends and clients. You are family to us!

Need help making your business more efficient? We’ve been helping guys like this for decades! Not sure how to start? That’s where we can help. Contact us for help! We are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Year end alert! Its not too late to save on 2020! Today’s tax tip. Make effective use of capital losses. Up to $3,000 in capital losses can be claimed each year to reduce your ordinary income. This loss limitation is calculated after netting all your capital losses against any capital gains. When you have more losses than gains, up to $3,000 can be used to reduce your other income. With careful planning you can take advantage of this loss amount each year. Not sure how to start? That’s where we can help. Contact us for help! We are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

End of Year tax Help!!!!

We can’t wait to leap into action for you in 2021! Happy New Year to all of our friends and clients you are family to us! Stamos and Stamos, Strength in Numbers!

New Years Eve For most of us 2020 was a struggle. Calendar or fiscal year, let’s get started on 2021! Happy New Year to all of our friends and clients you are family to us! Stamos and Stamos, Strength in Numbers!

Today’s year end tip! Run Financial Reports. At a minimum, put together a profit and loss statement, a balance sheet, and a cash flow statement. Look at where your money went this past year. Now is a great time to determine whether you’ve met your profit goals and cash flow needs. If you’re a business owner that is not actively involved in management, consider having a year-end compilation, review or even audit of your financial statements by a CPA firm to give you comfort in their accuracy. Not sure how to start? That’s where we can help. Contact us, we are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Today’s year end tip! Set Goals and prepare a budget for the Coming Year. The end of the year is a natural time to reflect on, and analyze, your business. Assess whether the business is where you want it to be, its prospects for the future, and whether your current business practices are adequate. As you reflect, set goals for the year to come. Not sure how to start? That’s where we can help. Contact us, we are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Merry Christmas to all our friends and clients. You are family to us!

Well, we made it one week under our belt in 2021! Fifty one more to go! Let’s make it a great one! Have a tremendous weekend! Stamos and Stamos, Strength in numbers! 714-998-0311

This is a great time to look further ahead and tackle your 2021 budget. Lay out your calendar, spreadsheet, or whatever method you use and let’s get to work on this year's budget! Not sure how to start? That’s where we can help. Contact us, we are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Working on a budget for 2021? Wondering how to plan for this crazy new year? Tip of the day, When you don't know the future value of something, make conservative estimates. Shift expenses a bit toward the high side, and income a bit toward the low side. This goes against human nature, but conservative estimates give you a cushion in case things do not go as planned. Not sure how to start? That’s where we can help. Contact us, we are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

The pandemic hit businesses differently depending on their industry and their ability to pivot and adapt. Its important to have a plan during these turbulent times. An important question to ask yourself when planning for 2021 is In 2021, are sales expected to be compared with in 2019? Will they be above, below or about the same? Will I need PPP money? Will I qualify for the second round? Not sure how to start? That’s where we can help. Contact us, we are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Happy New Year! Today’s tip for the new year is to Ask yourself key questions about your business's performance. The pandemic hit businesses differently depending on their industry and their ability to pivot and adapt. As such, some businesses can plan for growth in 2021, while others need to remain conservative in their forecasting. It’s important to have a plan during these turbulent times. Not sure how to start? That’s where we can help. Contact us, we are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

We can’t wait to leap into action for you in 2021! Happy New Year to all of our friends and clients you are family to us! Stamos and Stamos, Strength in Numbers!

A business was dismayed when a brand new business, much like his own, opened up next door and erected a huge sign which read ‘BEST DEALS’. He was then horrified when another competitor opened up, this time on his right, and announced its arrival with an even larger sign reading ‘LOWEST PRICES’. The shopkeeper panicked, until he got an idea. He put the biggest sign of all over his own shop. It read: ‘MAIN ENTRANCE’. Morale of the story? In these wild times we have to stay flexible, competitive and keep our wits. Not sure how to start? That’s where we can help. Contact us, we are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

PPP Expenses Are Tax-Deductible Late in 2020, the IRS scared many business owners, and their CPAs, who had received PPP loans. It issued a notice that borrowers who had their PPP loans forgiven would not be allowed to deduct the expenses covered by the loan. This notice came against congressional advice and was corrected late last year in the new bill which clarifies that PPP expenses will be considered tax-deductible. This is incredible news to all that received PPP loans. These funds are 100% free if used for the intended purpose. Not sure how to start? That’s where we can help. Contact us, we are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Well, we made it one week under our belt in 2021! Fifty one more to go! Let’s make it a great one! Have a tremendous weekend! Stamos and Stamos, Strength in numbers! 714-998-0311

The 2021 tax season has some interesting changes due to the stimulus payments and unemployment income. If you didn’t receive your Economic Impact Payments (aka stimulus checks), you can claim them on your 2020 tax return through the Recovery Rebate Credit. The credit will either increase your tax refund or reduce the amount you owe (and the credit will apply to both the first and second stimulus payments). Not sure how to start? That’s where we can help. Contact us, we are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Tax season is nearly upon us. Now is the perfect time to get organized. Take time to organize your tax documents and financial records. This will make the actual filing process faster and easier. Your accountant should be sending you an organizer that can give you a starting point to determine your previous income, deductions and credits reported. If you don’t have an organizer last years return can be useful. Following last year’s figures and documents can help get you off to a solid start. You may have new issues that require attention but , starting with last years stuff gives you a solid foundation. As the documents come in via mail/email we recommend that you put them with your organizer. Follow this process and you should be ready to meet with your tax professional by Valentines Day! Not sure how to start? That’s where we can help. Contact us, we are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Tax season is upon us! Do you expect to owe taxes when you file your tax return? It is a good idea to know what your liability is as early as possible. You may not have to pay until April 15th, but getting a surprise bill from your tax professional on April 10th is no fun. During the 2020 tax season at the height of the pandemic response, the IRS extended the deadline to July 15, 2020, giving taxpayers three additional months to file. As of now, the IRS has not indicated it will extend this year’s tax due dates, so prepare to pay your taxes by April 15. Failure to do so may result in a penalty. Not sure how to start? That’s where we can help. Contact us, we are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

The Forgiveness Process Is Easier For business owners who took loans less than $150,000 in the first round, the process of applying for loan forgiveness is now simplified to a one-page application. The forgiveness aspect of PPP loans has been trying to say the least. From the beginning, particularly for very small businesses and sole proprietors, the process has been frustrating and time consuming. Thankfully the SBA has been instructed to create a simplified application for companies that took out smaller loans. The SBA had already simplified the process for borrowers with loans less than $50,000, but this should widen the net, making it easier for business owners to get back to work and for lenders to expedite the forgiveness process on their behalf. Not sure how to start? That’s where we can help. Contact us, we are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

If you are one of the tens of millions of Americans who received unemployment income in 2020, keep an eye out for your Form 1099-G, “Certain Government Payments.” Since unemployment income is considered taxable income by the IRS, you are required to report it. Not sure how to start? That’s where we can help. Contact us, we are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

The 2021 tax season has some changes as a result of the stimulus payments. If you didn’t receive your Economic Impact Payments (aka stimulus checks), you can claim them on your 2020 tax return through the Recovery Rebate Credit. The credit will either increase your tax refund or reduce the amount you owe (and the credit will apply to both the first and second stimulus payments). Not sure how to start? That’s where we can help. Contact us, we are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Tax tip of the day! The CARES Act, effectuated in March, changed restrictions on deductions for charitable giving. What does this mean? Good news. More people may be eligible for a tax break this year. There is an “above-the-line” deduction of as much as $300 for individuals who claim the standard deduction. Not sure how to start? That’s where we can help. Contact us, we are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Not sure how to start? You are not alone! Don’t call Superman, contact us, we are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

There have been a number of proposals for tax changes to both business and personal tax returns. A couple examples are Corporations may see an increase tax rates from 21% to 28%. As well as the individual top marginal income tax increases to 39.6%. Start planning today. Taxes will assuredly not come down in 2021. Not sure how to start? That’s where we can help. Contact us, we are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Its Friday in America! With all the changes in the world its never been a better time to get your taxes together early. Todays tip? Get an early start on your 2020 taxes. The sooner you complete them, the sooner you can put 2020 in your rear view mirror for good! Not sure how to start? That’s where we can help. Contact us, we are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Don’t get bullied by the tax man! Not sure how to start? That’s where we can help. Contact us, we are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Tip of the day! If you are a operate a small business or are a real estate investor, it may be a good idea to seek the assistance of a CPA. Establishing a relationship with a CPA can help you navigate possible tax deductions, create tax strategies for the future, and be on hand if the IRS ever comes knocking to audit your taxes. Keep in mind that if you expect that you will need a CPA or tax professional’s help, now is the time to establish that relationship before tax season really kicks in. Not sure how to start? That’s where we can help. Contact us, we are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Have a small business? Gotten a little too used to the lower tax rates? It looks like the section 199A small business income deductions (now 20%) may be eliminated, especially if your income is over $400,000. It’s not too soon to start planning for this. Not sure how to start? That’s where we can help. Contact us, we are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Times they are chang’n. Proposed tax law changes are in some cases dramatic. It's not too early to have a discussion about your options. Not sure how to start? That’s where we can help. Contact us, we are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Financial tip of the day! Say goodbye to debt! Monthly debt payments can be the biggest hurdle to real savings. Debt can rob you of your hard earned income! It’s about time you get rid of that debt. The fastest way to pay off debt is with the debt snowball method. This is where you pay off your debts in order from smallest to largest. It takes a little discipline and a few small sacrifices but it's more than worth it. Once your income is freed up, you can finally use it to make progress toward your savings goals. Not sure how to start? That’s where we can help. Contact us, we are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Taxes will be changing on 2021. All arrows are pointing to increases to business and at the very least high income earners. Estate taxes may also see some big changes. Now more than ever it's important to plan for the future. Not sure how to start? That’s where we can help. Contact us, we are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Although last year's filing deadline was extended from April to July because of the pandemic, so far it looks like April 15 will be the filing deadline for 2021. The IRS urged taxpayers to file electronically, with direct deposit, as soon as they can in order to "speed refunds during the pandemic." The agency said that 90 percent of taxpayers who do so should expect to receive their refund within 21 days of their filing date. Not sure how to start? That’s where we can help. Contact us, we are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Struggling with Turbo Tax or some other online software? Stop missing deductions and paying too much tax. Not sure how to start? That’s where we can help. Contact us, we are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Are you looking at your on line bank balance to see how much money your business has? Have no idea if your business is profitable? Just finished a job and have no idea if it was profitable? These are just a few signs that your finance team or your bookkeeper may need some additional senior level support. There may be a knowledge gap, too much change and/or too high a workload which makes dealing with issues more difficult. Senior level support can help and improve confidence in your financial reports. Not sure how to start? That’s where we can help. Contact us, we are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Is your business is going through a period of change? Growing? Contracting? Pandemic induced changes? Now is the time that you will need useful. financial information. You need an experienced professional to work closely with you and your team. This will help you to better identify and measure the key factors that are driving your business results.. Not sure how to start? That’s where we can help. Contact us, we are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Struggling with processing your accounting transactions? Lack of senior level financial oversight may be preventing business growth. A Virtual CFO will give you the level advice and oversight that your business needs without the cost of a full-time hire. Virtual CFOs function within your management team and provide business advice through a financial lens. This gives owners useful information that will help them manage their business to new levels. Not sure how to start? That’s where we can help. Contact us, we are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Todays tax tips. Stimulus checks are not taxable! While stimulus checks are not taxable, unemployment benefits are. Confused about the difference? Not sure how to start? That’s where we can help. Contact us, we are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Getting bullied by the tax man? Tax season is here and it’s time to get serious! Not sure how to start? That’s where we can help. Contact us, we are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Tax season is a great time to create a long term plan! While a budget will help guide your short-term goals, a comprehensive financial plan will provide you with a long-term road map that can last a lifetime. A financial plan merges all the previously mentioned considerations and more. A financial plan must be tailored to meet each person’s unique circumstances and objectives. Not sure how to start? That’s where we can help. Contact us, we are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Don’t forget about your estate plan! With all the proposed changes in the tax codes this year more than ever people need to reevaluate their estate plans. Tax season can be a critical time for clients to take a fresh look at trusts, wills, beneficiary designations, and the titling of property. It is important to ensure their wishes are known and can be carried out. Not sure how to start? That’s where we can help. Contact us, we are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Did you prepare your own Tax return last year? Think you may have made a mistake? Its not too late to fix those errors. We amend returns all the time. The IRS allows tax filers to go back up to three years to recover missed deductions, correct erroneously filed returns or to simply fix stuff. Last week we saved a business $25,000 by amending their back returns. They had used an online service to prepare his returns and missed tens of thousands of dollars in deductions. We helped our clients pay the least amount of taxes they legally owed! Not sure how to start? That’s where we can help. Contact us, we are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers!

Tax tip of the day! Retirement savings for self-employed individuals. Self-employed individuals and small business owners can deduct their contributions to retirement accounts on Schedule 1. This deduction applies to SEP IRAs, SIMPLE IRAs and similar retirement plans. These deductions can save taxpayers thousands and in some cases tens of thousands. Not sure how to start? That’s where we can help. Contact us, we are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Today’s 2021 tax season tip! Student loan interest deductions are possible! Taxpayers with student loans can deduct up to $2,500 of interest incurred. You can also include interest via credit card debt that came from helping to pay for education. Loans qualify as long as you paid for them and they were for yourself, a spouse or a dependent. You cannot get the deduction if your filing status is married but filing separately. Your available deduction also decreases once your modified adjusted gross income hits $85,000 (if you’re a single filer) or $170,000 (if you’re married filing jointly). Not sure how to start? That’s where we can help. Contact us, we are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Today’s tax tip, the Recovery rebate credit can be taken on your return! If you didn’t receive the full value of one or both of the coronavirus stimulus checks (economic impact payments) in 2020 or early 2021, you may be able to receive them by claiming the recovery rebate credit. This credit is available only in 2021 and you can’t claim it if you already received both payments. Not sure how to start? That’s where we can help. Contact us, we are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Unemployment benefits, Overall, 10 million people in the United States are currently unemployed, and about 40 percent of these people have been out of work for more than six months. Many people unemployed for the first time may have not fully understood that their unemployment is taxed. That income must be included on your return. Not sure how to start? That’s where we can help. Contact us, we are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Tax tip of the day. For those who didn’t receive a stimulus payments, they should carefully review the guidelines for the Recovery Rebate Credit. Most people received Economic Impact Payments automatically, and anyone who received the maximum amount does not need to include any information about their payments when they file. However, those who didn't receive a payment or only received a partial payment may be eligible to claim the Recovery Rebate Credit when they file their 2020 tax return. Not sure how to start? That’s where we can help. Contact us, we are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Did you receive unemployment benefits in 2020? Unfortunately those payments are taxable to for Federal purposes ( not for California ). Make sure your preparer is aware of the amount you received. The IRS receives a 1099 and will be expecting you to put that amount on your return. If you received an overpayment of unemployment benefits during the year, and you paid it back, you can also deduct the amount of that overpayment on Schedule 1 of your taxes. Just make sure to take the deduction in the same year that you paid it back. You can still deduct it in later years, but the process is more of a hassle. Not sure how to start? That’s where we can help. Contact us, we are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Tax season is here! Don’t get blind sided by the filing deadline. The State of California has extended the deadline again this year, but so far the IRS has not moved the date. Not sure how to start? That’s where we can help. Contact us, we are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Tax season is in full swing. And if you’re tempted to rush through your returns, be careful not to make sloppy mistakes or you could miss out on a larger refund, owe more in taxes or face an IRS audit. Tax credits and exemptions are available, particularly for those who were financially affected by the pandemic. The Irs website, irs.gov has a lot of useful information on just what the new credits and deductions are and how to apply them. Another option would be to consult a professional. Not sure how to start? That’s where we can help. Contact us, we are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311 IRS.GOV Internal Revenue Service | An official website of the United States government

Friday Its Friday in America. Please be safe and have a great weekend. Oh and if you need help with your taxes we have the light on this weekend! Stamos and Stamos, Strength in numbers! 714-998-0311

The tax deadline is about a month away. Time to get serious! Not sure how to start? That’s where we can help. Contact us, we are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Retirement-plan withdrawals. Many people have struggled to make ends meet during the pandemic and dipped into their retirement accounts. Some of them will now have to reckon with paying taxes on the money they withdrew from their workplace retirement plan. If you are younger than 59½, you are ordinarily subject to a 10 percent early-withdrawal penalty on top of the income tax owed on your withdrawal. But — if you experienced financial hardship related to the pandemic — the Cares Act waived the 10 percent penalty on withdrawals from individual retirement accounts and defined contribution plans, such as a 401(k) or 403(b). Not sure how to start? That’s where we can help. Contact us, we are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

If you were legally married, separated or divorced during the year, don’t forget your filing status may change. You may be married, married filing separately, single or even head of household. Each status has its own pluses and minuses. It’s important to choose the correct one. Not sure how to start? That’s where we can help. Contact us, we are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Frustrated with you “do it yourself” package? Not sure how to start? That’s where we can help. Contact us, we are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Be wary of unscrupulous individuals who may offer to prepare your taxes but could steal important personal information from you. As part of a hot scheme in 2021, identity thieves are targeting tax payers and professionals by sending an email that appears to be from the IRS. The phony email refers to “IRS Tax E-Filing” and verifying key e-file information. Not sure how to what you are seeing is real? That’s where we can help. Contact us, we are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Tax season is in full swing. That said, It’s tempting to put off filing your taxes until just before the April 15 deadline, but making a silly mistake may wind up costing you. While filing for an extension will give you more time, you still need to pay any taxes owed by the original deadline. Remember its an extension to file, not to pay. Not sure how to start? That’s where we can help. Contact us, we are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Friday Its Friday in America. Please be safe and have a great weekend. Oh and if you need help with your taxes we have the light on this weekend! Stamos and Stamos, Strength in numbers! 714-998-0311

Its not too soon to talk 2021 taxes! The 2021 COVID Bill increased child tax credits to $3,600 per child under age 6 and $3,000 per child up to age 17 — for parents earning less than $75k or couples earning under $150k. For a couple with two young children this could be over $7,000 in tax credits! This difference can be seen immediately through adjusting your withholdings on your paycheck or adjusting your quarterly estimated payments. Not sure how to start? That’s where we can help. Contact us, we are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Struggling with what is deductible and what is not? Not sure how to start? That’s where we can help. Contact us, we are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

With Congress tightening eligibility for the third coronavirus stimulus checks, some Americans might want to strategically time their next tax return to get the full $1,400. Similar to last year’s stimulus bills, anyone earning up to $75,000 annually would get a $1,400 check, but that amount would shrink for people with incomes between $75,000 and $80,000. (Those thresholds double for married couples filing jointly.) One might want to strategically time their next tax return to get the full $1,400. Not sure how to start? That’s where we can help. Contact us, we are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Patience, patience and more patience will be needed. Our elected leaders in Washington DC retroactively exempted the first $10,200 in unemployment assistance. How this will be implemented in the middle of tax season has yet to be decided. We suggest that you stay tuned and hold off on filing your return until the proper forms or approach is rolled out by the IRS. Already filed? Well an amendment may be needed. The best we can suggest now is to stay tuned. Not sure how to start? On this issue no is! But we can help. Contact us, we are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

PPP loan income exempt in California? Not yet. California legislators have been delaying the decision to either comply or not comply with the Federal law that went into place in late December of last year. The Federal law made all PPP loans not only forgivable but also tax free. The elected leaders in Sacramento have a couple of bills bouncing around the halls that would address this issue but have thus far not acted on them. Our sources at Spidell Publishing, a respected tax publication, are keeping us posted. Unfortunately, they are not giving us hope for a speedy resolution. This has left millions of tax returns in limbo. Not sure how to start? That’s where we can help. Contact us, we are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311

Having trouble with getting your paper work together for tax season? Not sure how to start? We can help. Contact us, we are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311.

Stimulus checks. There is a third check coming out, many of you have already received yours. The maximum amount for the third round of stimulus checks will be $1,400 for any eligible individual or $2,800 per eligible couple filing taxes jointly. Each eligible dependent — including adult dependents — also will qualify for a payment of $1,400. That means a family of four could receive as much as $5,600 in total. Single adults who reported $75,000 or less in adjusted gross income on their 2019 or 2020 tax return will receive the full $1,400 payments, as will heads of household who reported $112,500 or less. Couples filing jointly who earned $150,000 or less in adjusted gross income will receive the full $2,800. It’s important to document the amounts that you are given as they are reported on your tax return. Don’t worry, they are not taxable. If a person (or family) is entitled to more than they are receiving then they can recoup the difference on their 1040 income tax return. Not sure how to start? We can help. Contact us, we are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311.

The national tax deadline has been extended again. This Time they have moved the deadline to May 17th. Why? I guess the excessive tinkering with the tax code, stimulus checks and state compliance issues with PPP were enough to add a month. Not sure how to start? We can help. Contact us, we are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311.

Received unemployment relief in 2020 and already filed your return? You may need to amend your return to recover a whopping $10,200 deduction! If your adjusted gross income is under $150,000 then you are entitled to that deduction. Not sure how to start? We can help. Contact us, we are open from 8:30 am to 5pm Monday through Friday, also available on Saturdays by appointment. Stamos and Stamos, Strength in numbers! 714-998-0311.

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