We partnered with benchmark commercial insurance to discuss how audits relate to workers’ compensation. Benchmark offers a boutique approach to serving their clients through providing and maintaining commercial and personal insurance policies. Their goal is to establish comprehensive risk management and accident-avoidance programs to help prevent claims from arising. Get… [Read more]
California CPA’s: Questions to ask your Clients to Reduce EDD Audit Risk
Certified Public Accountants (CPAs) have the most insight into their business owner clients’ daily transactional history. You may find that your clients who have 1099 contractors are now in the grey area of worker classification since it was redefined by AB-5 in January 2020. Under the new bill, all workers… [Read more]
Get to Know Local San Diego California Tax Attorney John Milikowsky
Meet John Milikowsky John Milikowsky is the owner, founder, and managing attorney of Milikowsky Tax Law in La Jolla, San Diego. As an attorney, he is passionate about representing business owners in the face of government audits, specifically EDD, IRS, and CSLB business audit cases. A former business owner himself… [Read more]
How Build Back Better Bill will Affect Business Owners in 2022
The Build Back Better Bill, also known as the Build Back Better Act, is structured to support the middle class and expand the economy. It states that taxes for those with an income under $400,000 will not change. But the funding for this trillion-dollar act needs to come from somewhere. … [Read more]
What Will 2021 EDD Audits Look Like?
Watch our video below to learn how the last 12 quarters affect your EDD audit criteria. Have You Received an EDD Audit Letter? The California Employment Development Department (EDD) sends audit letters through the mail. If you receive an audit letter, you have 30 days to reply. Typically, the agency… [Read more]
What is form 5472?
Form 5472 is a United States Taxpayer’s return for: Any U.S. corporation that is at least 25% foreign-owned or Any U.S. corporation that has at least 25% foreign corporation engagement in a U.S. trade or business. If a corporation has at least one direct or indirect foreign shareholder in one… [Read more]
How Dynamex Ruined it for Everybody
Who is Dynamex and what did they do? Watch our video below: Dynamex was a nationwide same-day delivery and courier service. They employed their California drivers as W-2 employees who received the benefits, payroll taxes, and perks of being a W-2 employee. However, in 2004, the company reclassified all… [Read more]
IRS Wants to Look at Your Bank Account
Watch our video below: Why Does IRS Want to Look into Your Bank Account? Personal checking accounts are private individual accounts people use to hold money received. It’s not an account typically investigated or monitored by the Internal Revenue Service (IRS). However, this is changing with a new IRS… [Read more]
How to Respond to IRS Letter CP 2000
What is a CP 2000? Watch our video below: IRS sends audit letters to taxpayers when tax returns and reported data from employers or banks do not match. This specific letter is IRS letter CP 2000. It is not a formal audit letter notice. However, it does notify the taxpayer… [Read more]
What Should You Pay for a Tax Attorney?
How much should you pay for a tax attorney? It depends on the issue you’re facing. If you’re a business owner, you can expect to pay a little bit more because these cases tend to have more complicated issues. Sometimes, cases can cost $2,000 to $3,000, but it depends… [Read more]
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