While the national tax filing deadline remains Tuesday, April 15, 2025, many Santa Clarita residents won’t need to rush.  In the wake of recent wildfires, both the IRS and the State of California are offering extended tax relief for those in Los Angeles County, including right here in the Santa Clarita Valley. Extended Deadline for Fire-Affected Residents In response to ...

Santa Clarita residents and businesses are expected to see a sales tax increase starting April 1 as Los Angeles County implements a new countywide tax under Measure A.  This means Santa Clarita shoppers are set to be paying more for groceries with the tax increase on top of an already skyrocketing inflation rate in California. This voter-approved measure, passed in ...

The California Franchise Tax Board (FTB) reminded taxpayers today that Tuesday, October 15, 2024, is the deadline for filing 2023 state personal income tax returns to avoid a late filing penalty. “I want to remind Californians that by filing their state tax return they can claim the California Earned Income, Young Child, and Foster Youth tax credits if they meet ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...