I focus on being proactive and I do preventative tax work for my clients, instead of reactionary; this is especially important so that my clients are not blindsided when tax season rolls around.
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San Diego, CA (PRWEB) January 23, 2015
San Diego Business Advisors has been serving San Diego and surrounding areas for 12 years, providing individual tax preparation with the personalization that software packages can't. Owner Steven Leibold suggests getting help this tax season, especially with the Affordable Care Act (ACA) issue, as people are responsible for now reporting to the IRS on their tax returns about their health coverage. Steven says, “This will especially hurt people that either didn’t have coverage at all or didn’t have coverage for the entire year; obtained health insurance via the exchanges or received the premium credit, but their income for 2014 did not substantiate the credit they received. This group will be responsible for paying a portion of the credit back.”
The New Year is a good time to remind people about tax documentation rules, as well as some basic tax planning tips. One should also take the time in the New Year to review living trusts, wills, and basic family succession planning. Some of Steven’s tips include:
- Check documentation requirements for charitable contributions, as they will be different, depending on the amount of the contribution and if it was cash or non-cash.
- Gather all automobile expenses, as proper documentation is key for taking an auto deduction for business owners. Mileage logs along with other contemporaneous documentation needs to be maintained by the taxpayer in order to support a deduction.
- For small business owners, choose your type of business entity and employee classification wisely. The choice of how a business owner structures their business, not only may reduce their taxes, limit their legal liability, but it may also reduce their chances of further audit. This is especially important regarding independent contractors in lieu of employees, especially with the new health insurance laws in effect.
San Diego Business Advisors provide a variety of tax services, with expertise in all areas of taxation, including corporate, estate, individual, partnership and federal, local and state taxes. “I focus on being proactive and I do preventative tax work for my clients, instead of reactionary; this is especially important so that my clients are not blindsided when tax season rolls around. I enjoy what I do and try to educate my clients throughout the process,” said Steven Leibold.
In addition, Steven works with the SBDC (Small Business Development Center), presenting at a variety of workshops several times a year, typically geared towards the new small business owner. Steven says, “I want to help start business owners off on the right foot and the best way to do this is to give them a dose of reality so that they can avoid ending up deep in debt, down the road.” Dates are not set for the upcoming workshops, but they should be in May or June. Check Steven’s blog or call for more information.
The San Diego Business Advisors office is located at 3517 Camino Del Rio South, Suite 406, San Diego, CA 92108. Please call (619) 294-4286 x 351 for more information or to make an appointment.
About San Diego Business Advisors
As an Enrolled Agent with years of experience, San Diego Business Advisors works to maximize one’s tax savings with professional tax preparation services. San Diego Business Advisors is located in San Diego, CA.
The NALA is a full-service marketing agency providing custom personalized service for small and medium businesses throughout the United States.
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