Los Angeles City Tax Due February 29th, 2016

If you have a business, or do business, in the City of Los Angeles or any other city with a business license tax, you should be aware your L.A. City Business Tax Renewal is due by February 29, 2016.

Fortunately, there are a couple exemptions which could apply to you including the "Small Business Exemption" and "Creative Artist Exemption."  In order to claim these exemptions, your tax form must be filed on time so please contact us so we can review your personal situation and determine if either of these apply. Please be ready to provide your total income for the 2015 tax year.

If you're running a business in the City of Los Angeles and have not registered your company, you may qualify for the "Newly Established Business" exemption if you register by February 29, 2016. If you live in another city such as Pasadena, it's possible you're required to register so please check with us to ensure you're filing correctly. 

For additional information: http://finance.lacity.org/ 

Los Angeles City Tax Due February 28, 2015

If you have a business, or do business, in the City of Los Angeles or any other city with a business license tax, you should be aware your L.A. City Business Tax Renewal is due by February 28, 2015.

Fortunately, there are a couple exemptions which could apply to you including the "Small Business Exemption" and "Creative Artist Exemption."  In order to claim these exemptions, your tax form must be filed on time so please contact us so we can review your personal situation and determine if either of these apply. Please be ready to provide your total income for the 2014 tax year.

If you're running a business in the City of Los Angeles and have not registered your company, you may qualify for the "Newly Established Business" exemption if you register by February 28, 2015. If you live in another city such as Pasadena, it's possible you're required to register so please check with us to ensure you're filing correctly. 

For additional information: http://finance.lacity.org/ 

Are Bad Financial Records Putting Your Business At Risk?

 Lilia Marroquin - Accountant & Licensed Tax Preparer

Lilia Marroquin - Accountant & Licensed Tax Preparer

Bookkeeping is one of the most intimidating and time-consuming functions a business must endure. However, the importance of having detailed and accurate financial records cannot be overstated. It’s particularly helpful in the preparation of tax reports which rely on very specific data to ensure your tax liability is kept to a minimum. Discrepancies in financial records can also result in faulty tax returns – putting your business at risk of accumulating IRS penalties or even being audited! 

Bookkeeping helps manage a business by recording day-to-day financial details and keeping track of critical data used to make important decisions now and in the future. Services typically include customer billing and collections, vendor payables, payroll processing, and bank account reconciliation, just to name a few. These are necessary to help ensure your business is operating efficiently and all financials are in order when tax day arrives. 

Truax is fortunate to have an experienced and certified Bookkeeper on staff who can help get your financials in order while reducing costly errors that can threaten a business. Lilia Marroquin,Accountant & Licensed Tax Preparer, has a Bachelor of Science in Accounting from Loyola Marymount University and is a fully licensed tax preparer. She’s taught basic accounting at the college level and worked in a number of professional environments – from small proprietorships to large publicly-traded companies – which helped provide a substantial background in setting financial procedures and internal controls at companies of all shapes and sizes. 

If you’re interested in taking your business to the next level and minimizing your financial risk on tax day, please give Lilia a call. She’s here to help!

Los Angeles City Tax Due February 28, 2014

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If you have a business, or do business, in the City of Los Angeles or any other city with a business license tax, you should be aware your L.A. City Business Tax Renewal is due by February 28, 2014.

Fortunately, there are a couple exemptions which could apply to you including the "Small Business Exemption" and "Creative Artist Exemption."  In order to claim these exemptions, your tax form must be filed on time so please contact us so we can review your personal situation and determine if either of these apply. Please be ready to provide your total income for the 2013 tax year.

If you're running a business in the City of Los Angeles and have not registered your company, you may qualify for the "Newly Established Business" exemption if you register by February 28, 2014. If you live in another city such as Pasadena, it's possible you're required to register so please check with us to ensure you're filing correctly. 

For additional information: http://finance.lacity.org/