Blog

Can you believe it? Three weeks until the May 17th deadline! You'll forgive me if visions of vacation and beaches are dancing through my daydreams.For many in Southern California, daydreams like these become more frequent while contemplating retirement (not just...

As the old joke goes, the only two guarantees in life are death and taxes.In these updates, I obviously spend a lot of time talking about taxes.And these past 12 months, no matter how things have landed for those of you in or near Southern California ... the other...

Buying a house in Southern California right now is painful. Very painful. Inventory is at a historic low, and prices are skyrocketing.I have some thoughts -- and while this is admittedly not within my direct "wheelhouse" ... I think it will help as we move through the...

I have to apologize to all of my Southern California clients for the sheer volume of tax-centric writing I've been doing the last few weeks and months.Normally, I like to write on other topics (in addition to the tax-related stuff) ... but I cannot emphasize enough...

Every year, the IRS charges tax debtors a boat load of penalties.Just how much? If you’re in Southern California and you owe taxes, you should definitely take a look...To put this in perspective, the IRS budget for 2021 is about $12 billion. That means the entirety of...

Last week marked the one year anniversary of the CARES Act (stimulus round 1). This was such a monstrous piece of legislation, it’s still being unraveled. It made "Obamacare" (ACA) and the "Trump Tax Cuts" (TCJA) seem like junior league tweaks.We had not before seen a...

With a third round of "stimmy" (as the kids say) hitting bank accounts for the past week, 90MM+ Americans (including some of us in Southern California) are once again flush with cash. It remains to be seen what this will do for the economy, but combined with what...

Events are happening fast in tax world, and we are VERY busy here at Barnes Accountancy Corporation. But this is a good thing -- we've been preparing for this season all year, and we love to serve.We knew that there would be unexpected curve balls this year, but...

The "American Rescue Plan" has been finalized. And there are things about the new stimulus update our Southern California clients should know.While I normally write weekly, there is information in this strategy note that you need to know about now that might even...

Recently, I saw some data on the US Census Bureau website that was both encouraging and troubling at the same time. I would imagine Southern California business owners who might face tax problems would be interested in seeing this:(Here is the page from which this is...

Despite what you might think, being a tax accountant is NEVER boring.We have all kinds of fun amusements that keep us going.We play little games like: "Guess The New Tax Law That Will Change Returns That Have Already Been Filed" -- catchy title, I know, and we get to...

I mentioned last week the key provisions of the "American Rescue Plan," while it was just proposed legislation.Now that the House has passed it, there is more meat on those bones. I'll run it all down for you once it's been signed by the President, but the key...