We are grateful to our client, Vince B., for sharing his story of how we were able to help him weather an EDD audit. This audit could have closed his business and had far-reaching repercussions for his personal finances as well as business finances. In 2020, Vince was hit with… [Read more]
5 Tips for CPAs to Minimize Audit Risk for Their Clients
If you are a CPA, here are 5 things to help your client reduce the risk of an EDD, IRS, or SBA audit: 1: Confirm that your client’s 1099-K (provided by a merchant processor) does not report gross proceeds from credit card sales that are higher than the amount you… [Read more]
CPA vs Tax Attorney: What’s the difference?
In some cases, it may be difficult to distinguish what your CPA is capable of helping you with and which tasks are better suited for a tax attorney. Both are experts when it comes to tax matters but in different ways. While your CPA is an expert at preparing and… [Read more]
What CPAs need to know about CARES
For CPAs, one of the most important parts of the CARES loan package which has brought $2.3 trillion in loans to households, businesses, and state and local governments is the Main Street Lending Program, which provides for up to $600 billion in loans to small and midsize businesses. The Fed… [Read more]
Precision & Attention to Detail Are The Hallmarks of Milikowsky Tax Law
John’s level of precision and attention to detail is unmatched. At Milikowsky Tax Law, we partner with CPA firms to provide the highest level of service and support to their clients in case of IRS Audit, EDD investigation or other tax controversy matters. Bernie Minton, CPA is a trusted CPA… [Read more]
How to Prepare a Tax Return and Minimize Your Risk of Audit: A Guide for The Starting CPA
[edsanimate_start entry_animation_type= “bounceIn” entry_delay= “0” entry_duration= “0.5” entry_timing= “linear” exit_animation_type= “” exit_delay= “” exit_duration= “” exit_timing= “” animation_repeat= “1” keep= “yes” animate_on= “load” scroll_offset= “” custom_css_class= “”][edsanimate_end] Preparing and filing accurate business tax returns can be complicated. That’s why so many business owners rely on CPAs to help them navigate… [Read more]
Four Year-End Tax Questions to Ask Your CPA
Your CPA isn’t just there to ensure that the numbers add up on your tax returns. They can also provide useful advice on how to manage your income for the year and estimate your tax liabilities going forward. A qualified and knowledgeable CPA can also give you insights to help… [Read more]
Calculating Your Business Tax Liability: Federal and California State Tax Law
States vary in their tax laws and in their allowable deductions for business owners. Because California’s state tax laws differ from federal tax laws, business owners in California should be attentive to ensure they comply with both the federal and state requirements. Working with a qualified CPA who understands California… [Read more]
The Small Business Owner’s Guide to Finding a Qualified CPA
As you search for the right CPA firm consider the following questions. After all as a Small Business Owner, switching CPAs can be a daunting and time consuming task and you want to ensure that the firm you choose has the right balance of services for your needs. Ask for… [Read more]
Small Business Owners: Mid-Year Review with Your Bookkeeper and CPA
Summer is in full swing now and. if you’re a business owner with sales that are heating up, this is the perfect time to take stock of your business’ financial situation. Mid-way through the year is the perfect opportunity to reflect and plan. Look back and assess how you are… [Read more]
