Reason Financial
2023 Set A Record
Choosing life insurance to protect your family
Just over half of Americans have life insurance in place—meaning the other half risk leaving their families unprotected in an emergency. Of the folks who do have life insurance, many purchase coverage through their employer. While an employer plan is better than no plan, this approach can create problems for both you and your loved…
Read MoreCalifornia Business Owners – Statement of Information Filing
California law requires all corporations, limited liability companies (LLC) and common interest development associations to update the records of the California Secretary of State based on the year of registration by filing a Statement of Information (SOI). All entities are required to complete the SOI within the first 90 days of filing the Articles of…
Read MorePersonal Use of Corporate Automobile
Personal Use of Corporate Automobile Download your 2025 Personal Use of Auto Inform Based on current tax laws, an employee’s personal use of a corporate provided vehicle (PUA) is considered to be a taxable fringe benefit. The following summarizes these rules: A corporation is required to treat the personal use of an employer provided vehicle as…
Read MoreReminder to File Your 1099s
Reminder to File Your 1099s Form 1099 Filing Requirements and Due Dates As we wrap up the year and prepare to hit the ground running, here is a reminder of how, when and if you need to file Forms 1099-NEC and 1099-MISC. The following general guidelines are meant to assist you in either preparing the…
Read MoreHealth Insurance Premiums Paid for S-Corporation Shareholders
Health Insurance Premiums Paid for S-Corporation Shareholders Download: Health Insurance Premiums Paid for S-Corporation Shareholders. To comply with the Internal Revenue Service regulations regarding health insurance provided to an employee who owns a 2% or greater interest in an S-Corporation (a “2% shareholder-employee”), the health insurance premiums for the 2% shareholder-employee must be reported on the…
Read MoreDivorce Checklist
Divorce is emotional. Which is why it’s good to have a team in place looking out for your best interests. That includes your finances. Generally, we recommend divorcing spouses each work with their own financial advisor, that way you know your advisor is looking out for your best interests throughout the process. The following steps…
Read MoreBuy Vs. Rent: Data Suggests The Decision Has Never Been More Clear-Cut
Chasing Deadlines
In the world of tax accounting, adapting to new deadlines is part of the game. This year, we’ve been on a marathon, with the IRS setting a new finish line at November 16th for California storm victims (source: IRS Newsroom). This recent change marks the third relay race of deadlines in 2022 alone, and it…
Read MoreNavigating the Tax Galaxy: Our Recent Journey at Super Seminar 2023
We recently had the pleasure of attending Super Seminar 2023. With over 40 years of history under the guidance of the California Society of Enrolled Agents (CSEA), Super Seminar sets the standard as a beacon for professional development. Attendance at this event affords participants a wealth of knowledge, tools, and resources that foster growth in…
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