Frequently Asked Questions
Tax Tips
For Individuals:
April 15- Personal Tax Return & 1st Estimated Tax Payment
June 15- 2nd Estimated Tax Payment
Sep. 15- 3rd Estimated Tax Payment
Jan. 15- Final Estimated Tax Payment
Oct. 15- Filing of Calendar Year End Tax Return on Extension
For Businesses:
Jan. 31- Distribution of W2s &1099s
– Prior 4th Qtr. 941, DE9 & DE9(c)
– 940 Annual FUTA Form
March 15- Calendar Year Corporate Tax Returns
April 30- 1st Qtr. 941, DE9 & DE9(c)
July 31- 2nd Qtr. 941, DE9 & DE9(c)
Oct. 31- 3rd Qtr. 941, DE9 & DE9(c)
Sep. 15- Filing of Calendar Year End Tax Return on Extension
- Businesses – Sept. 15
- Individuals – Oct. 15
E- filing is now the easiest & most accurate way to file your taxes and ensure a speedy refund. When we file electronically, your only required actions are to review the client letter, sign the Form 8879 documents, and submit payment to Beach Cities for the services provided. Any refund or payments will be processed within 2 weeks versus 4-6 weeks traditionally.
If you spend more than 7.5% of your adjusted gross income on medical expenses, such as insurance (but not your pre-tax premiums), prescriptions, other out-of-pocket expenses, and mileage to and from medical facilities, then you may deduct the amount that exceeds that figure. Keep in mind, you must itemize to claim medical deductions.
The Affordable Care Act, better known as “Obama Care” can impact your tax liability as well. We are here to assist you with understanding your potential tax consequences.
In another effort to curb identity theft, only the last four digits of the social security number will be on the W2’s for employees. Of course, the IRS continues to receive the complete number. These are just some of important news that you will want to know.
Please note that unemployment benefits are considered taxable income at the federal level, and we advise electing federal tax withholding. However, such benefits are not subject to California state income tax, and no state withholding is required.
General Topics
For Tax Clients please bring:
Required Documents:
Copy of your prior years tax return
W2s
If applicable:
1099s
K-1s
Form 1098s
Brokerage Statements
Real Estate Closing Statements
Form 1099K
Any other supporting documents (schedules, checkbooks, etc.)
Any tax notices received from the IRS or Franchise Tax Board
For Bookkeeping Clients, please bring your bank statements, check register, credit card statements, and your sales journal for the past three months (or since your business start date).
You can send us an e-mail to: admin@beachcitiestax.com
Or call us at: 1-310-540-2358 ext. 23
Our initial consultation is $75 where we will discuss your needs and plan the level of services needed. Fees are determined monthly or quarterly depending on the volume & size of your business.
Yes, absolutely. As a business owner, you should be participating in your business doing what you love and have a professional handle your accounting. Reliable accounting reports are the backbone of a successful business. We’ll get you started, keep you on the right track and help you grow.
We handle everything from balancing your books to managing Sales, Income, and Business taxes. By choosing to work with us, you can save time and avoid costly late fees.
Taxpayers who are 65 years of age or older may qualify for an additional deduction of $6,000 per individual. Eligibility is subject to income thresholds of $75,000 for single filers and $150,000 for married couples.
