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Tax

Artificial Intelligence Is Being Exploited In Financial Scams

Guirguis & Gibbs, Inc. - Santa Clarita CPA

Did you ever imagine ‘80s movies and television shows like “The Terminator” and “Knight Rider” that showed machines doing things on their own could some day become a reality? How about living in a world where we talk to our phones for help, unlock devices with our faces or ride in a self-driving car? We now can and this is ...

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Schiavo, L.A. County Delegation Vote To Support Extending The California Film & Television Tax Credit

Pilar Schiavo speaks to a crowd

Assemblymember Pilar Schiavo, D-Chatsworth, and the Los Angeles County Delegation (LACD) last week voted to extend the California Film and Television Tax Credit Program contained in Governor Newsom’s 2023-2024 budget with bipartisan support.  The LACD is composed of 39 members, encompassing 15 members from the California State Senate and 24 members from the State Assembly. “I am proud that my ...

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Don’t Wait: File Your Tax Returns Early In 2023

tax

Although California residents and businesses affected by severe winter storms have until Oct. 16 to file their federal taxes, local experts advise that filing early is better to avoid potential issues this tax season. The IRS announced on Feb. 24 that taxpayers living in any area designated by the Federal Emergency Management Agency (FEMA) in California, Alabama and Georgia automatically ...

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Californians: Do Not Count The Middle Class Tax Refund As Income

tax

In California the Middle Class Tax Refund is not set to count as income on federal tax filings.  On Friday, the IRS issued guidance that affirms people living in California do not have to count the middle class tax fund as income on their federal tax filings.  The announcement comes after California Senate and Assembly Republicans requested that President Biden ...

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Planning Ahead To Keep From Falling Behind – Building a Budget That Builds Equity

Building a budget is essential to managing your finances, tracking your expenses, and preparing for unforeseen circumstances.  Budget planning can be a bit tricky, but is a critical factor in financial success, stability, and it helps in achieving specific goals.  With that said, here are ways you can build an adequate budget and build wealth.  Know Your Monthly Net Income ...

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California Democrats Propose New Tax Up To 25 Percent On Homes Sold Within Seven Years Of Purchase

Santa Clarita Homes

Many Homes Purchased After Jan. 1, 2023 Will Be Impacted A bill being considered by the California legislature will propose a capital gains additional surcharge tax of up to 25 percent on all homes purchased and then sold within the state during the initial seven years of ownership. Assembly Bill 1771, (AB 1771), the California Speculation Act, authored by California ...

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Barger, Hahn Back Tax Relief For Property Owners In Santa Clarita 

Income Taxes

On Tuesday, the Los Angeles County Board of Supervisors unanimously passed a motion by Supervisors Kathryn Barger and Janice Hahn to cancel property tax penalties, interests, costs and fees for property owners, including in Santa Clarita, that have been negatively affected by the eviction moratorium passed by the Board as part of its COVID-19 relief efforts. This support for property ...

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IRS Announces Early Start Date For Tax Filing Season This Year

On Monday, the Internal Revenue Service (IRS) announced that the tax filing season would begin earlier than usual in 2022. The IRS released a statement on Monday that the 2022 tax filing season would begin on Jan. 24, during which they are set to begin accepting and processing tax returns. “Planning for the nation’s filing season process is a massive ...

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