One question we often get is how long should specific records be kept. The simple answer is to keep the records for as long as they serve a useful purpose or until all regulatory....

Once a year, or every other year for some organizations, the Secretary of State will send you a small postcard asking you to update your organization's Statement of Information. If this form is not filed or is filed late, the state will assess a penalty of up to $250 and will suspend your....

In May of this year, the IRS was hacked and they estimated account information was taken from 114,000 taxpayers. Recently, they increased this estimate...

It's summer time and local business owners are dealing with slow-downs, while many families are on vacation or spending time away from the desert heat. No one feels like talking about taxes and the IRS....

Are you prepared for new Affordable Care Act requirements? Here are the changes to look for in 2015...

Time for a new company car? Be sure to consider the tax consequences of “trade-in” versus “for sale” vehicles.....

This past tax season I received several phone calls from clients concerned about highly threatening phone calls they received from people claiming to be from the criminal investigation unit of the IRS.  I also received calls...

For those considering why they should pay for QuickBooks, here is why most CPA firms recommend it...

It's tax time and the scramble is on for many of us. Some use professional CPAs (Certified Public Accountants) for their taxes, while others brave it on their own. After filing...

Small business owners will be relieved to know that on February 18 the IRS issued Notice 2015-17, providing limited relief from the draconian $100 per day per participant penalties under...

After approximately three years of debate, revisions, and policy formulations, the IRS has rolled out a whole new set of Depreciation and Repair Regulations. These....

Foreign asset reporting requirements continue to be at the forefront of the US crackdown on tax evaders who are attempting to hide assets in overseas accounts. The FBAR...

It's been stated by many different organizations, including the IRS, that 2015 could be the worst filing season in 30 years.  Some of the major obstacles facing this filing...

With the New Year upon us, individuals and businesses can breathe a sigh of relief as the President signed the Tax Increase Prevention Act extending over...

Happy New Year from all of us at Osborne Rincon! With a new tax season now upon us, individuals and businesses alike, are looking for last minute tax deductions...

Many employers provide health insurance for their employees as a valued benefit.  In years past whether the employer offered a Qualified Group Plan or simply paid for the employee's...

There is much confusion over household workers and how to pay them, but the law is very clear-any person who works in your household (such as a nanny, caregiver, or personal...

Did you know that as a taxpayer you have rights?  In an effort to smooth over the public's perception of the IRS after several scandals last season, the "Taxpayer Bill of Rights" was...

Currently in the Senate Finance Committee, they are looking to extend certain tax laws that expired at the end of 2013. The Senate Chairman, Ron Wyden has stated...

Many businesses have enjoyed a more profitable year in 2013.  This is good news, but this then results in some tax filing issues.   Some post year end strategies to....