Planning

Business Tax Insights: IRS Audit Mistakes To Avoid

You may be surprised how many businesses we work with that are unaware tax information effecting their business.  This is especially the case if you are suddenly being audited by the IRS.  You’ll find this blog timely if:   You use electronic accounting software to track and file your taxes You use credit card statements to substiate business expenses   As a full-service tax preparer, we continually look into tax law changes and what they mean for our business clients.  Whether you are an ... Read more

Work-Related Devices That You Can Write Off

During the 2019 tax season (the filing cycle for this year’s taxes), new tax reforms are proposed to do away with deductions for un-reimbursed employee business expenses.  However, if you are a business owner, you will still have the option of deducting business expenses.  But which ones?  Take a look at this list courtesy of Pacific Tax & Financial Group.  After reading the information below, if you have questions feel free to contact us by phone at (760) 471-2040 or via ... Read more

Splitting Income with Your Family

Breaking up taxable income to your children or even grandchildren and other family members is a proven technique in tax planning. It may allow you to lessen your family’s total taxes. Yet, this technique could be more valuable these days. With the new ATRA (American Taxpayer Relief Act), new sets of tax rates are applicable to regular income while tax breaks for dividends and capital gains favors investors with upper-income. If you own real estate or securities and other income-producing assets, your ... Read more

Hiring the Right Professional For Your Taxes and Finances

Does your tax preparer help you to realize your short and long-term goals?  Whether you are a filing as a business or individual, Pacific Tax & Financial Group can help you to minimize your taxable income to achieve your financial goals.  Our team has the privilege of serving individual and businesses throughout Carlsbad, Escondido, Fallbrook, Oceanside, San Marcos, San Elijo Hills, Valley Center and Vista. Tax Preparation We understand that maximum tax savings aren’t realized by just one avenue.  Therefore, we take a ... Read more

Truths About Hiring An Accountant—Business Planning

Are you considering hiring an accountant to handle the financial aspects of your business?  Many have been or are currently in your shoes.  Trusting another person with such a vital component of your business can seem like a huge leap.  That because it is!  Nevertheless, there may come a time when hiring an accountant saves you time, energy, and money.  Yes, an accountant can save you money (we’ll cover this too)! Our accountant team has the privilege of serving business of all ... Read more

Getting Out Of A Back Tax Jam

If a year or more of back taxes is looming over your head, it is time for a solution.  Avoiding the problem is simply going to create an ever-growing snowball that will eventually avalanche your finances.  At Pacific Tax & Financial Group, we help navigate individual taxpayers and small business owners out of the worst back tax stories imaginable.  Below are some of the things that we can do for you. Build A Tax Strategy Everyone’s tax situation differs.  Hence, it is vital ... Read more

Advanced Planning to Avoid Estate Taxes

When planning financially and for taxes, many people fail to pay attention to estate taxes. While there are times when an estate must pay tax, you don’t want to leave your family with this burden if it can be avoided. But how can that be achieved? One successful approach is to work with a tax professional who fully understands the “ins and outs” of estate planning.  Pacific Tax & Financial Group has such experience.  Below is an overview of estate taxes ... Read more

Small Business Tax Preparation Mistakes That You Should Avoid

It is not uncommon for people to make mistakes on tax returns, but when they occur in businesses, auditors can be less forgiving.  Hence, it is best to make yourself fully aware of common tax preparation mistakes that can cost your business. Nearly every year there are tax code changes that effect small businesses. Pacific Tax & Financial Group alerts all of its small business clients about tax codes updates so that they can adjust to save money.   Call us today at ... Read more

San Marcos/North County San Diego Tax Planning

Every year the IRS Tax Code is revised, revamped, and renewed in specific ways. Unfortunately, every year millions of individuals and businesses take no note of these changes, which ultimately costs them money. Are you aware of this year’s Tax Code changes? We are! Pacific Tax & Financial Group is one of San Marcos and North County San Diego’s most reliable and fastest tax planning providers. Our experience in tax preparation extends for over 20 years. We have a deep understanding of how ... Read more

Financial & Retirement Planning

Experience and professionalism that you can trust! Retirement is one of the biggest goals and one of the most important. It is a culmination of years of work and is meant to cover a variety of essentials during your golden years. Health, family, leisure, home, and financial security are all wrapped up in retirement. Although it’s never too late to save for retirement, starting early is the better option. People are living longer and more active lives in older age. In fact, most view ... Read more

Education Planning

Among the greatest anxieties that parents have is how to pay for their children’s higher education. Many work long hours and take on extra jobs to ensure that their children get an education that can lead to more options in life. However, few take the time to plan ahead and get the most power out of their children’s education fund. Why not get the most out of your hard work by planning the best route to your child’s future education? With the costs ... Read more