Proposed Regs Provided for Code Sec. 163(j) Limit
The IRS has proposed regulations on the limitation on the business
interest expense deduction under Code Sec. 163(j), as amended by
the Tax Cuts and Jobs Act (TCJA) ( P.L. 115-97). The IRS also has
Deductions Denied to Medical Marijuana Dispensary
A nonprofit corporation that operated a medical-marijuana
dispensary legally under California law was not allowed to claim
deductions for business expenses on its federal return. Code Sec.
2019 Standard Mileage Rates Released
The IRS released the optional standard mileage rates for 2019. Most
taxpayers may use these rates to compute deductible costs of
operating vehicles for:...
Proposed Regs Address Foreign Tax Credit Changes
Highly anticipated foreign tax credit regulations have been issued
that provide guidance on the significant changes made to the
foreign tax credit rules by the Tax Cuts and Jobs Act ( P.L.
Guidance on 2019 Withholding Rules
The IRS has provided interim guidance for the 2019 calendar year on
income tax withholding from wages and withholding from retirement
and annuity distributions. In general, certain 2018 withholding
FAQ: What is a limited liability company?
A limited liability company (LLC) is a business entity created
under state law. Every state and the District of Columbia have LLC
statutes that govern the formation and operation of LLCs....
How Do I? Write Off Bad Business Debts
A business with a significant amount of receivables should evaluate
whether some of them may be written off as business bad debts. A
business taxpayer may deduct business bad debts if the receivable
Estimated tax: Getting it right
Estimated tax is used to pay tax on income that is not subject to
withholding or if not enough tax is being withheld from a person's
salary, pension or other income. Income not subject to withholding
How Do I? Make an in-plan Roth IRA rollover?
In-plan Roth IRA rollovers are a relatively new creation, and as a
result many individuals are not aware of the rules. The Small
Business Jobs Act of 2010 made it possible for participants in
Elaine Lew, CPA Provides Individual and Corporate Tax Preparation and Tax Audit Representation Services in Orange County
Experience superior CPA expertise and service! We provide corporate tax preparation, LLC tax preparation, individual tax preparation, and tax audit representation. Our CPA firm specializes in small to medium size business in Orange County, CA.
Elaine Lew, CPA is a local CPA firm with over 75 years of I.R.S. audit experience. Our firm will focus on your unique individual and corporate tax preparation and tax representation needs. Comprised of highly qualified, experienced accountants we focus on servicing local businesses in Orange County, CA including Mission Viejo, Rancho Santa Margarita, Trabuco Canyon, Ladera Ranch, Aliso Viejo, Laguna Woods, Laguna Niguel, San Juan Capistrano, San Clemente, Lake Forest, Foothill Ranch, Tustin and Irvine.
This website has been designed to be a helpful resource tool for you, our valued Orange County clients and visitors. We are dedicated to superior CPA client services as we endeavor to provide the highest quality professional service and guidance. Our main focus is business and individual tax preparation, tax audit representation and tax collection representation before the Internal Revenue Service and other taxing authorities.