Uncategorized - CAPATA CPA

Building a Resilient Future: Harnessing the Strength of All Reserves

May 23, 2023

Welcome to CAPATA, Southern California’s premier accounting firm dedicated to helping businesses like yours achieve their financial goals. With a deep understanding of the importance of All Reserves in building a strong financial foundation, we are here to guide you through the intricacies of reserve management. We will explore the different types of All Reserves, highlight their significance, and demonstrate how they can positively impact your business. At CAPATA, we … Read more

MY CPA Just Retired – Now What?

March 7, 2023March 27, 2019

If you’ve invested any time building a solid relationship with your CPA and now they are becoming a retired CPA, the chances are that you may find yourself a bit overwhelmed when he or she moves on. Starting over with a new CPA can be a daunting prospect if you’ve grown comfortable with one individual’s style of working. While you search for a new CPA because you were left with … Read more

2017 vs. 2018: Tax Deduction for Moving Costs

March 7, 2023February 21, 2018

If you moved for work, you might be able to deduct some costs on your 2017 tax return. Even if you don’t itemize deductions. (Or, if your employer reimbursed you for moving expenses, that reimbursement might be excludable from your income.) The bad news is that, if you move in 2018, the costs likely won’t be deductible. Any employer reimbursements will probably be included in your taxable income. Suspension for … Read more

2018 Q1 tax calendar: Key deadlines for businesses and other employers

March 8, 2023December 6, 2017

Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2018. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements. January 31 February 28 File 2017 Forms 1099-MISC with the IRS if 1) they’re not required … Read more

Start now thinking about “bunching” — miscellaneous itemized deductions

March 8, 2023August 26, 2016

Start now thinking about “bunching” — miscellaneous itemized deductions Many expenses that may qualify as miscellaneous itemized deductions are deductible only to the extent they exceed, in aggregate, 2% of your adjusted gross income (AGI). Bunching these expenses into a single year may allow you to exceed this “floor.” So now is a good time to add up your potential deductions to date to see if bunching is a smart … Read more

3 methods for tax-intelligent giving: Estate Tax

March 8, 2023August 12, 2016

3 methods for tax-intelligent giving: Estate Tax Giving away assets during your life will help reduce the size of your taxable estate, which is beneficial if you have a large estate that could be subject to estate taxes. For 2016, the lifetime gift and estate tax exemption is $5.45 million (twice that for married couples with proper estate planning strategies in place). Even if your estate tax isn’t large enough … Read more

How many employees does your business employee for ACA purposes?

March 8, 2023May 24, 2016

How many employees does your business employee for ACA purposes? It seems like a simple question: How many full-time workers does your business employ? But, when it comes to the Affordable Care Act (ACA), the answer can be complicated. The number of workers you employ determines whether your organization is an applicable large employer (ALE). Just because your business isn’t an ALE one year doesn’t mean it won’t be the … Read more

Save huge on taxes signing up for Summer day camp

March 8, 2023May 17, 2016

Save huge on taxes signing up for Summer day camp Although the kids might still be in school for a few more weeks, summer day camp is rapidly approaching for many families. If yours is among them, did you know that sending your child to day camp might make you eligible for a tax credit? The power of tax credits. Day camp (but not overnight camp) is a qualified expense … Read more

Putting your home on the market? Understand the tax consequences of a sale

March 8, 2023May 10, 2016

Putting your home on the market? Understand the tax consequences of a sale As the school year draws to a close and the days lengthen, you may be one of the many homeowners who are getting ready to put their home on the market. After all, in many locales, summer is the best time of year to sell a home. But it’s important to think not only about the potential … Read more

+ More

Building a Resilient Future: Harnessing the Strength of All Reserves

MY CPA Just Retired – Now What?

2017 vs. 2018: Tax Deduction for Moving Costs

2018 Q1 tax calendar: Key deadlines for businesses and other employers

Start now thinking about “bunching” — miscellaneous itemized deductions

3 methods for tax-intelligent giving: Estate Tax

How many employees does your business employee for ACA purposes?

Save huge on taxes signing up for Summer day camp

Putting your home on the market? Understand the tax consequences of a sale

Reach out to us for a Consultation

Sitemap

Contact

Newport Office

Glendale Office