IRS & California Tax Blog

The S-Corporation is the entity of choice for many small businesses in Roseville, from medical practices on Douglas Blvd to tech consultants in Rocklin. The primary tax advantage is obvious: you don’t pay self-employment tax (Social Security and Medicare) on the profits (distributions) of the business, only on your wages. Naturally, this creates an incentive…

The rise of “pig butchering” crypto scams has left thousands of investors financially devastated. These sophisticated, long-con frauds build trust over months, convincing victims to invest huge sums into fake platforms before vanishing with the funds. If you have fallen victim to one of these schemes, you know the pain is not just emotional—it is…

Received IRS Letter 3585? Defending Your Personal Assets in Trust Fund Recovery Investigations For a business owner or corporate officer, few pieces of mail are more alarming than an inquiry from the IRS regarding “unpaid Form 941 payroll tax periods.” If you have recently received IRS Letter 3585, or if a Revenue Officer has contacted…

As the new year approaches, many of us will set resolutions to improve our finances. We aim to save more, spend less, and invest wisely. But one of the most powerful tools for building wealth is often overlooked in New Year’s resolutions: strategic tax planning. By making tax-savvy financial resolutions, you can ensure that more…

The year 2025 has been another landmark period for the digital asset space, marked by significant regulatory shifts, technological advancements, and evolving tax guidance. For investors and businesses in California, staying ahead of these changes is crucial for compliance and strategic planning. As the year draws to a close, let’s review the most impactful crypto…

There are few things more anxiety-inducing than finding a letter from the Internal Revenue Service in your mailbox. Your mind might immediately jump to the worst-case scenario: a full-blown audit. While some notices are indeed serious, many are routine requests for information or notifications of minor adjustments. The most important thing is not to panic—and…

The holiday season brings cheer, family gatherings, and, unfortunately, a significant spike in financial scams. As digital assets become more mainstream, so do the sophisticated methods criminals use to steal them. This year, holiday crypto scams are expected to be more prevalent than ever. Investors in tech-savvy hubs like the San Francisco Bay Area and…

For businesses in California, embracing cryptocurrency can open up new markets, streamline payments, and attract a tech-savvy clientele. However, accepting, holding, or paying with digital assets introduces a labyrinth of accounting and tax challenges that standard bookkeeping practices are simply not designed to handle. This is where specialized crypto accounting for businesses becomes not just…

The IRS is no longer taking a passive approach to cryptocurrency. With advanced data analytics and information from crypto exchanges, the agency is actively identifying taxpayers who may have underreported or failed to report their crypto gains. For crypto traders in California, a state already known for its rigorous tax enforcement, the risk of an…

The feeling of dread that comes with unfiled tax returns is a heavy burden. Whether it’s been one year or several, the problem doesn’t go away on its own. In fact, it gets worse. The IRS and the California Franchise Tax Board (FTB) impose steep failure-to-file penalties and interest, which can quickly spiral into overwhelming…