I am looking for a CPA to prepare my taxes in Pasadena?

I have had my office in Pasadena since moving here from Century City in 1996. I prepare income taxes for individuals and business, as well as represent my clients before the IRS. I specialize in small business and individual income tax returns and business consulting.

How much will it cost to prepare my tax return?

I prepare tax returns with a wide range of complexity so to simplify the question I have a set price list based on the forms required for the return. We specialize in small business and individual tax returns.  The minimum fee we charge for an individual tax return is $275 with while our average client is more complex and fess average between $500 and $750.

Is my Advance Child Tax Credit taxable?

Child tax credit checks don’t count as income, so you won’t have to pay income tax on the payment. While you won’t pay taxes in 2022 on the payments you receive this year, you still may need to repay the IRS some part of the advance payment when you file your income tax return in 2022. If for whatever reason you wind up getting more child tax credit money than you actually qualify for you might need to repay some of the money to the IRS in 2022.

Is the Economic Impact Payment I received in 2021 taxable income?

No, the Third Economic Impact Payment is not includible in your gross income. Therefore, you will not include the third payment in your taxable income on your 2021 Federal income tax return or pay income tax on the third payment. It will not reduce your refund or increase the amount you owe when you file your 2021 Federal income tax return in 2022.

Are you accepting new clients?

We accept a limited number of new clients every year. We are a good match for clients looking for a long-term , personal and professional relationship.

How will the new IRS 1099 requirements from third-party processors, like PayPal and Venmo, affect me?

Effective in 2023 thirty party processors like PayPal and Venmo will be required to file from 1099K with the IRS reporting payments received by taxpayers who receive more than $600 for products and services, in total, for the year. What this means to you is that if you are selling products or providing services you will need to file Schedule C reporting your business income and expenses. I recommend that my clients have separate accounts for their personal and business accounts. While you are responsible for business receipts, you are not required to report transfers between family and friends on a personal account