Tax and Finance Information
The following articles were authored by HCVT. Note that these
are of a general nature and subject to changes in tax law.
Please contact us for more specific
information.
The Nanny Tax: Household Employee Payroll Taxes
This article covers payroll (Nanny) tax matters related to household employees. (updated 8/16/04)
[Posted: 8/16/2004 12:00:00 AM]
"Starting A Business" Checklist
Checklist for starting a business from the California Secretary of State
[Posted: 10/28/2003 12:00:00 AM]
Jobs and Growth Tax Relief Reconciliation Act of 2003
The recently passed Jobs and Growth Tax Relief Reconciliation Act of 2003 (the Act) introduces a host of new rules, accelerates benefits, and creates a web of retroactive, temporary and phased-in/phased-out effective dates.
[Posted: 5/30/2003 12:00:00 AM]
Where's My Refund?
Access this secure Web site to find out if the IRS received your (individual) return and whether your refund was processed and sent to you.
[Posted: 2/21/2003 12:00:00 AM]
Beware of Financial Cloners!
The national crime rate may be down, but credit card fraud is on the rise, and it can ruin you financially.
[Posted: 11/12/2002 12:00:00 AM]
Section 529 Plans
Qualified state tuition plans (Section 529 plans) are tax-advantaged college savings accounts that allow taxpayers to set aside funds on a tax-deferred or tax-free basis.
[Posted: 11/12/2002 12:00:00 AM]
Highlights of the Job Creation and Worker Assistance Act of 2002
The Job Creation and Worker Assistance Act provides sizable federal tax breaks to businesses over the next four years. In several critical areas, relief is retroactive to 2001.
[Posted: 10/29/2002 12:00:00 AM]
The Return of the IRS "Audits From Hell"
Earlier this year, IRS Commissioner Charles O. Rossotti announced that the Service would be unleashing their auditors on about 50,000 calendar 2001 personal tax returns in an effort to improve audit techniques and statistics, which will be used to target taxpayers for future audits.
[Posted: 10/2/2002 12:00:00 AM]
California Tax Incentives Can Be Rich
California has made a concerted effort to encourage new investments in capital and also in the form of employment incentives that are often overlooked or underutilized by taxpayers. The reason most taxpayers miss out on some of these opportunities is the rules and mechanics can sometimes be complex and cumbersome.
[Posted: 7/25/2002 12:00:00 AM]
A Procrastinator's Guide to Surviving April 15th
If the last three–and-a-half months have not provided you enough time to complete your calendar 2001 personal tax returns, fear not, securing an extension of time to file your returns is fairly simple.
[Posted: 5/15/2002 12:00:00 AM]
Sales & Use Tax
Even though virtually every man, woman, child and business in the U.S. is subjected to sales tax on a daily basis, most of these taxpayers direct their complaints about taxes to the federal and state income tax system.
[Posted: 4/12/2002 12:00:00 AM]
Killing Two Birds With One Stone
Taxpayers in a high marginal tax bracket can gift appreciated stock (held for more than five years) to their children (age 14 or more when the stock is sold to avoid the "kiddie" tax) and potentially save up to 12% in taxes on the gain.
[Posted: 3/21/2002 12:00:00 AM]
Overlooked Tax Breaks
A list of some often overlooked tax benefits.
[Posted: 3/16/2002 12:00:00 AM]
Recent Benefit Plan Developments
The enactment of the Economic Growth and Tax Reconciliation Act of 2001 (EGTRA) will have a far-reaching impact on the benefit plan and retirement options available today.
[Posted: 2/12/2002 12:00:00 AM]
Revised Limited Liability Company (LLC) Fees
Governor Gray Davis recently signed a bill (AB 898) decreasing Limited Liability Company (LLC) fees and adjusting the definition of total income for tiered entities for taxable years beginning on or after January 1, 2001.
[Posted: 1/30/2002 12:00:00 AM]
Loan Documentation Procedures
Very often, equity owners enter into loan agreements with their business entities, both in a lending and borrowing role. However, due to the nature of these related-party transactions, lack of documentation and improper execution often creates invalid loan agreements, which can cause numerous tax and economic problems in the future.
[Posted: 1/21/2002 12:00:00 AM]
Staying Current on Billing Means Stronger Cash Flow
Once upon a time, it took many years to build a business from scratch. First you had to set up shop, invest in a little money in advertising, build up a client base, and eventually word of mouth would either make or break your business.
[Posted: 1/7/2002 12:00:00 AM]
Choosing the Proper Legal Form for Your Business
Tips on choosing the proper legal form for your business
[Posted: 7/27/2001 12:00:00 AM]
The Silver Lining in a Cloudy Economy
As the economy and financial markets continue to spiral downward, it is difficult to find much to cheer about. Fortunately, there are a number of tax strategies that can offer certain taxpayers significant tax advantages over the long run
[Posted: 4/8/2001 12:00:00 AM]
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