Taxes Archives - ATS Consulting

6 ways to invest your tax tefunds

Tax season is over, and now it’s time to wait if your paperwork qualifies for a refund. The IRS checks most of the files withing 21 days of e-filling or longer for paper tax returns.

Where’s my refund? is a website offered by the IRS website to check the status of your refund. This site is refreshed daily with notifications of the progress of your case in three stages: (1) Return Received, (2) Refund Approved and (3) Refund Sent.

It may be in the middle of May when you see on your bank account the refund done by one of the official government accounts. This extra income could be used for many expenses or funds you may have. Today we share some ideas of what to do with your refund:

4 Taxes myths that became viral this 2023.

During this year tax season fulfilling your tax return paperwork could turn into a headache and a stressful time, so you could easily search for hacks and advice from others experience on the internet.

This seek of help may cause some advice without basis become viral and start a spread of myths and misinformation that no regulator institution has confirmed. Keep reading to know more about the 4 taxes myths that became viral this 2023.

IRS Provides Tax Relief to California Storm Victims

The IRS is providing tax relief to storm victims who live or have a business in the disaster area now have until May 15, 2023, to file various federal individual and business tax returns and to make tax payments.

The disaster área designated by the federal government includes the following counties: Colusa, El Dorado, Glenn, Humboldt,Los Angeles, Marin, Mariposa, Mendocino, Merced, Monterey, Napa, Orange, Placer, Riverside,Sacramento, San Bernardino, San Diego, San Joaquin, San Luis Obispo, San Mateo, Santa Barbara,Santa Clara, Santa Cruz, Solano, Sonoma, Stanislaus, Sutter, Tehama, Ventura, Yolo, and Yuba. Read more

January 26, 2023/0 Comments/by ATS Consulting

Entrepreneurs, Taxes, Tips

The Importance of Accurate Record Keeping for Tax Purposes

Accurate record keeping is crucial for any business, but it’s especially important when it comes to taxes. Keeping detailed records of your income and expenses can help ensure that you are paying the least amount of taxes possible, and it can also help protect you in case of an audit. In this blog post, we’ll go over some best practices for record keeping and explain why it’s so important. Read more

January 25, 2023/0 Comments/by ATS Consulting

Finances, News, Taxes, Worksheets

Understanding AB 5

Since its introduction to law in late 2019 and its application in 2020, California Assembly Bill 5 (AB 5) has remained a contentious issue as some industries have struggled to adjust to the sharp change in employee categorization.

AB 5 relies on a 3-pronged test to determine employment that came about through 2018’s court case Dynamex Operations West, Inc. v. Superior Court of Los Angeles. Commonly referred to as the “ABC Test,” it presents that a worker is presumed to be an employee unless the hiring entity demonstrates all three of the following conditions: Read more

October 27, 2022/0 Comments/by ATS Consulting

Finances, News, Taxes

President signs Inflation Reduction Act

The Inflation Reduction Act of 2022, H.R. 5376, was signed into law by President Joe Biden on August 16^th. Targeting health care, taxes and climate change, the $739 billion legislation includes a package for energy and conservation focused tax credits, tax provisions, and increased funding for the IRS.

In terms of energy incentives for individuals and businesses, the bill provides credits generally applicable for post 2022 returns including: Read more

October 25, 2022/0 Comments/by ATS Consulting

News, Taxes, Worksheets

California’s Governor Signs 3 Tax-Related Bills

Tax relief comes to California in the form of 2022-2023 budget bills. On July 5^th, 2022, Governor Gavin Newsom signed into law California Assembly Bills “AB” 192, 194, and 195.