Business, Free News Articles, Taxes and Accounting

KBKG Welcomes Two New Directors to Atlanta-Based Operation

ATLANTA, Ga. -- Nationwide tax specialty firm KBKG hired two new Directors, Amar Patel and Ian Williams, as part of their Southeast practice. Both Directors join KBKG with over 25 years of combined experience in Cost Segregation and Research & Development Tax Credits, two key services offered by the firm to CPAs and businesses.

As Director of Cost Segregation, Amar has become an expert in cost segregation and large fixed asset depreciation reviews for purposes of identifying Federal, State, and Property Tax benefits. Prior to joining KBKG, Amar spent 14 years at a Big Four firm focused on various specialty tax products, including Cost Recovery Solutions and Research & Development Tax Credits, serving corporate clients and partnerships in a variety of industries, including: retail, restaurant, manufacturing, healthcare, construction, and telecommunications.

As Director of Research & Development Tax Credits, Ian Williams brings extensive experience in the software, heavy manufacturing, aerospace, automotive, and consumer products industries to the KBKG team. Ian is also well versed in defending credit claims with the IRS. Prior to joining KBKG, Ian spent 11 years at a Big Four firm specializing in R&D Tax Credits and Fixed Asset studies.

"We are pleased to have Amar and Ian as part of the team. Their knowledge and experience in Cost Segregation, Fixed Assets, and R&D Tax Credits are of great use to the firm and its success. The addition of our new directors will support the growth this market is currently experiencing, allowing KBKG to serve more Southeastern clients," said Jonathan Tucker, KBKG R&D Tax Credits Principal and leader of the Southeast practice.

ABOUT KBKG

Established in 1999 with offices across the US, KBKG provides turn-key tax solutions, including research and development tax credits, cost segregation, green building tax incentives, transfer pricing, and more to CPAs and businesses nationwide. KBKG has offices located in Los Angeles, Chicago, Atlanta, New York City, and Dallas-Fort Worth.

For more information on KBKG, please visit: https://www.kbkg.com/

Related link: https://www.kbkg.com/

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Business, Free News Articles, Taxes and Accounting

KBKG Welcomes Three New Principals to Their Cost Segregation and Research & Development Tax Credit Services

PASADENA, Calif. -- Nationwide tax specialty firm KBKG promoted Eddie Price to Principal of Cost Segregation Services, as well as Paul McVoy and Jonathan Tucker to Principals of Research & Development Tax Credit Services.

Eddie Price leads KBKG's Cost Segregation practice and oversees KBKG's Southern region and its Texas-based operations. He is a Certified Cost Segregation Professional (CCSP) with the American Society of Cost Segregation Professionals (ASCSP). With over 35 years of cost segregation experience dating back to the Investment Tax Credit period, Eddie is one of the most experienced experts in the industry.

KBKG Cost Segregation Principal Malik Javed congratulates, "Eddie always goes above and beyond in leading our Cost Segregation practice in the South. This promotion is very well-deserved!"

Paul McVoy operates out of KBKG's New York office in its Research & Development Tax Services department. He devotes his time to consulting companies in maximizing their research & development tax credit claims. Paul has spent more than 15 years in public accounting leveraging previous tax compliance and tax provision work experience to provide focused and thoughtful advice regarding the research and experimentation activities of his clients.

Jonathan (Jon) Tucker serves as KBKG's Southeast region leader out of its Atlanta, Georgia office. He is a CPA and has over 16 years of experience providing federal business tax advisory services to clients. Having worked in public accounting for 15 years, Jon has served clients in all industries, including technology, manufacturing), transportation, healthcare, retail, and consumer products, hospitality, media and entertainment, financial, and other professional services industries.

"Paul and Jon have done an amazing job leading our R&D practice in the Northeast and Southeast markets and nationally. Their dedication to the firm and their drive to create a special group is at the heart of their success. I look forward to watching them continue to grow and create additional opportunities for others," said Kevin Zolriasatain, KBKG Principal of Research & Development Tax Services.

About KBKG

Established in 1999 with offices across the US, KBKG provides turn-key tax solutions, including research and development tax credits, cost segregation, and green building tax incentives, and more to CPAs and businesses nationwide. KBKG has office locations nationwide in California, Chicago, Atlanta, New York, and Dallas-Fort Worth.

For more information about KBKG, please visit https://www.kbkg.com/.

*PHOTO link for media: https://www.send2press.com/300dpi/21-0209s2p-price-mcvoy-tucker-300dpi.jpg

*Caption: Pictured (left to right): Eddie Price, CCSP; Paul McVoy; Jonathan Tucker

Related link: https://www.kbkg.com/

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Business, Free News Articles, Taxes and Accounting

Los Angeles Based CPA Firm Announces New Principal, Stacey R. Korman, CPA, MST

PASADENA, Calif. -- KROST CPAs and Consultants, the Los Angeles based firm, has announced a new Principal, Stacey R. Korman, CPA, MST. Stacey has extensive experience in assurance & advisory and accounting services and since joining the firm she has led the accounting and audit departments.

As an AICPA certified Fundamental Client Accounting Advisor, Stacey leads KROST's Client Accounting Service (CAS) division. CAS not only provides customizable accounting services for each client based on their specific situation and needs, but goes beyond business management or outsourced accounting by providing proactive insights and data analytics. This advisory methodology ensures clients' accounting needs are predicted and exceeded as their business evolves and grows.

In addition to CAS, Stacey has developed the firm's Paycheck Protection Program Loans Forgiveness team in partnership with Paren Knadjian, Practice Leader, M&A and Capital Markets and Sossi Bekarian, CPA, Senior Manager, Accounting. Since April 2020, the team has developed a proprietary budgeting and forgiveness maximization tool, hosted numerous webinars, and published a wealth of thought leadership on the subject. To date, KROST has assisted hundreds of businesses through the emergency loan program from the application process to loan forgiveness.

Stacey is expertly versed in working with clientele from a wide range of industries, including management companies, real estate, technology, foodservice, and not-for-profits. She provides consulting and cash management services to high net worth individuals, management companies, and small businesses. She is also an integral member of the Sports & Entertainment and Financial Services industry groups.

"Stacey is an outstanding member of our firm, and we are proud to welcome her as a principal as it is well deserved. She is a trusted consultant to our clients, mentor to staff, and technical leader who has elevated the work we do. Her industry expertise and breadth of knowledge is a tremendous value to us and those we serve," said Jason Melillo, Senior Principal at KROST.

ABOUT KROST CPAS & CONSULTANTS

Established in 1939 in Pasadena, California, KROST is a full-service certified public accounting and consulting firm serving clients across various industries in the areas of tax, accounting, consulting, assurance and advisory, M&A and capital markets, corporate tax incentives, and wealth management.

For more information about KROST, please visit: https://www.krostcpas.com/.

MEDIA ONLY CONTACT
Diana Vu
Marketing Coordinaor, KROST
(626) 773-8282 (media only)
diana.vu@krostcpas.com

Related link: https://www.krostcpas.com/

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Business, Free News Articles, Taxes and Accounting

CA Property Tax Laws Change in 13 Days: To Help Heirs Now Inheriting Property to Preserve Low Property Tax Base – Commercial Loan Corp Offers Free Benefit Analysis

NEWPORT BEACH, Calif. -- With only 13 days left before California Proposition 58 property tax breaks undergo changes and limitations imposed by new tax measure Proposition 19, on Feb. 16, 2021 - popular trust lender Commercial Loan Corporation is offering Heirs of Estates and Trust Beneficiaries, who are inheriting a home from parents, a free benefit analysis.

Californians who want to keep their parents' low property taxes, can call 877-464-1066 or visit online for a free Cost Benefit Analysis & Evaluation. Commercial Loan Corp assists families and beneficiaries by taking advantage of Proposition 58 and its' "Parent-to-Child Exclusion" or "Exemption" - avoiding property tax reassessment, and determining how much beneficiaries and homeowners can expect to save in property taxes (on average saving $6,000 or more per year).

The free Cost Benefit Analysis shows families what their options are, in terms of keeping an inherited home at a low property tax base, buying out co-beneficiaries, or selling inherited property shares through a trust loan... and compares costs as well as benefits of such a loan. Considered to be one of California's premier trust lenders, the firm is known for working successfully for both affluent and middle class families alongside their attorney, accountant or property tax consultant, as many families attest to.

Tanis Alonso, Senior Account Manager with Commercial Loan Corp, describes their boutique estate & trust lending service: "We don't view each trust loan scenario as simply a 'financial transaction.' Nor do we see the home they've lived in for decades as just a 'piece of real estate.' To us, this a 'piece of family history' in the making. And the process a 'family decision,' not a 'transaction.' We see our clients as real families that we're helping, financially and emotionally, not just as clients signing a contract for a trust loan. We enjoy helping people... getting them money when they really need it - and saving them on the cost side in the bargain, with a trust loan."

Tanis also elaborates on the firm's process: "OK, selling versus keeping inherited property. By someone keeping the family property, everyone receives more money than if they were to sell the property. When taking into account realtor and transaction costs of approximately 6.5%, the average trust receives $45,716 more to distribute by using a trust loan to keep to property, than if they were to sell the property. Each beneficiary on average is receiving $16,652 more by someone keeping the property, instead of selling it. And the average annual property tax savings is $6,043."

Account Exec Abe Ordaz discusses the free Benefit evaluation offer: "We are providing every family, beneficiary or heir inheriting a home left to them in an estate or trust, with a free 'cost benefit analysis'... to see how many thousands of dollars per year we can save them in property taxes. As opposed to their property being reassessed at high current rates."

Commercial Loan Corp originates loans to trusts and estates in probate, and helps to maximize the distribution of funds to a trust or estate; allowing beneficiaries to buyout inherited property from co-beneficiaries. When providing mortgages to trusts or estates in probate, the firm helps clients take advantage of Proposition 58 or Proposition 193 to avoid property tax reassessment and to retain a Parent's or Grandparent's low Proposition 13 tax base - frequently obtaining a property tax reassessment "exclusion" for families, saving them a good deal of money on property taxes.

To get a free Cost Benefit Analysis & Evaluation and lock down a low property tax base; or to receive a trust loan to buyout co-beneficiaries' property shares, and learn more about keeping parents' low property tax base when inheriting family property... California homeowners and beneficiaries can call Commercial Loan Corp at 1-877-464-1066.

Company Contact:
Commercial Loan Corporation
Main office: 1-877-464-1066
Mobile texting: 1-917-544-0551
Website: https://cloanc.com

Media Only Contact:
Geoffrey Sadwith
GS Web Communications
Phone Contact: 1-212-866-6150
Email: geoffreysf1@gmail.com

Related link: https://cloanc.com/

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Business, Free News Articles, Taxes and Accounting

Paramount Property Tax Appeal Offering a Free New Years Evaluation for Affluent Homeowners & Business Property Owners, RE: ‘Feb 16 Changes to Tax Laws & Tax-Reduction Solutions’

SAN DIEGO, Calif. -- With only 20 days left before CA tax laws change, imposing limitations on property tax relief - property tax reduction firm Paramount Property Tax Appeal is ushering in the New Year with a free New Years evaluation for California families, affluent homeowners and all types of business property owners - to determine what steps to take to lower their property tax bill.

The firm is reportedly so confident of their 80% success rate minimizing property taxes for families and businesses - Paramount is taking the unprecedented step of inviting property owners to call or stop by for a free New Years consultation & evaluation concerning requirements for a residential or business property tax appeal or property tax reduction, home and business property appraisal; as well as organizing and completing tax compliance paperwork for business personal property.

President of Paramount, Mr. Wes Nichols, says: "It's an all-hands on deck situation right now. It's critical to ensure your children can inherit and preserve a low Prop 13 basis from you! We are strongly advising all California property owners that property tax relief will be limited after Feb. 16, by the Prop 19 changes to Proposition 58's Parent-to-Child Exemption. There are only 20 days left to prepare, evaluate and potentially appeal property taxes - usually reducing property tax by 20% to 30%... Not following through on this may cost families and businesses thousands of dollars in unexpected, additional property taxes."

Mr. Nichols explains: "California property owners are facing a property tax deadline we've never faced before; that concludes 3-weeks from now - imposed by new tax law Proposition 19. All residential and commercial property owners have to complete estate planning and tax reduction paperwork by Feb. 15, 2021. When Prop 19 kicks in Feb. 16, the doors for California property tax relief protected by Proposition 13 and Proposition 58 slam shut for properties that are not owner-occupied homes within 12-months. In other words, homes, apt. buildings and other commercial properties will all be assessed at current, full-market value when you transfer title to your children..."

The corporate president elaborates: "We do enjoy helping people, no matter what their net worth or property values are; which is why we're offering a free consultation this year - and we can't emphasize enough how important it is for families and business owners to get in right now - this week - to see us, so we can evaluate their estate planning and property tax situation, and complete all the paperwork to lock in their future tax base at a lower rate. With Proposition 19 becoming property tax law, Californians only have 20 days left to lower their property taxes and complete estate planning, in order to pass down low assessed values to their children."

Paramount Property Tax Appeal is reportedly one of the few property tax firms in California that provides a large staff with well known, world-class tax attorneys and complex data-systems for proprietary tax reduction solutions and property tax appeal programs - guaranteeing parents the ability to pass down their low assessed value in the future to their children. Even if property is held in an LLC or a trust.

Mr. Nichols concludes: "It bears repeating - After Feb 16, 2021 you can no longer transfer your Proposition 13 basis to your children! This year, Californians face unprecedented tax challenges unlike any time in recent history... due partly to the Covid shutdowns and resulting economic crisis, severely impacting property values and estate planning. Families with estate planning needs have to realize they only have weeks left before their ability to take advantage of certain property tax breaks from CA Proposition 13 and Proposition 58 disappears - when Proposition 19 becomes active. This will dismantle certain tax breaks previously safeguarded by the Parent-to-Child Exemption, allowing homeowners to avoid property tax reassessment."

To get a free New Years evaluation for estate planning, trusts, property tax appeals and tax reduction - property owners can call the Paramount headquarters at (858) 225-1200 with the option to discuss over the phone, or to come in and review their property tax and/or business personal property tax needs with a property tax specialist.

Paramount Property Tax Appeal

Call: President Wes Nichols at (888) 385-9203

Email: wes@pptaxappeal.com

Website: https://www.paramountpropertytaxappeal.com

https://www.facebook.com/ParamountPropertyTaxAppeal

Related link: https://www.paramountpropertytaxappeal.com/

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Business, Free News Articles, Taxes and Accounting

DDK and Company Welcomes Sze Man Tam as Partner: First Asian-American to Take on this Role

NEW YORK, N.Y. -- DDK & Company, LLP, an accounting, tax, and consulting firm, announced on January 1 that Sze Man Tam has been promoted to Partner. In her new role, Sze will be leading DDK's Audit department, helping clients grow and improve their businesses, and developing DDK's next generation.

Sze started her career as a Junior Accountant in 2004, was promoted to Assurance Manager, and is now a Partner. She is a member of the New York State Society of Certified Public Accountants and the American Institute of Certified Public Accountants. Sze has a wide variety of expertise including non-profits, real estate, manufacturing, distributions and wholesalers, art galleries, jewelry, and employee benefits plans.

"Sze was promoted because of her ability to build great relationships with the clients," says Richard Klinghoffer, Co-Managing Partner. "Her technical accounting knowledge is exceptional, and she's a great team player and mentor to everyone in the Audit department."

DDK's rapid expansion has necessitated the creation of Sze's new position, as staff numbers need to increase to match an increasingly demanding workload. Sze's promotion is also part of DDK's firm-wide initiative to promote diversity in the workplace, as Sze is the first Asian-American and first Asian-American woman to hold the position of Partner at DDK.

About DDK & Company, LLP

DDK and Company offers a thoughtful balance of experience and innovation. We build on our strengths by drawing on the knowledge of our partners while expanding our menu of services into new fields. DDK has multiple offices in the Tri-state area, and we serve clients both locally and nationwide. Our partners provide a range of business consulting services, while our extensive Tax and Accounting departments manage those aspects of client portfolios. As we grow, we continue to position DDK as a multi-service provider that businesses of all sizes can trust. We're large enough to deliver services comparable to those offered by much larger firms, yet still modest enough in scope to provide personal service.

Find out more at https://www.ddkcpas.com/.

Find us on Facebook and LinkedIn.

Related link: https://www.ddkcpas.com/

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Business, Free News Articles, Software, Taxes and Accounting

EnergyCAP’s Energy Information Management System Earns FedRAMP Authorization

STATE COLLEGE, Pa. -- EnergyCAP, Inc. (ECI) is pleased to announce that its EnergyCAP® energy management information solution (EMIS) has been granted an Authorization to Operate (ATO) under the U.S. Government's FedRAMP program and is now an authorized participant in the FedRAMP Marketplace. The U.S. Department of State granted the ATO and is now the first EnergyCAP client in the FedRAMP environment.

The certification confirms that ECI's robust software platform and data hosting service meet the rigorous security requirements outlined by the Federal Information Security Management Act (FISMA). FedRAMP provides a uniform approach to risk-based security management and improves the trustworthiness, reliability, consistency, and quality of the federal security authorization process.

EnergyCAP is now the obvious choice for federal agencies in need of cloud-based utility bill tracking, management of submeter-based chargebacks for tenants and reimbursable activities, energy and sustainability reporting, goal tracking, and measurement and verification of savings (M&V).

ECI established a GSA contract (Contract #: GS35F231CA) in 2015 to streamline the EnergyCAP purchasing process for federal and other publicly funded organizations. By purchasing under ECI's GSA contract, organizations can bypass the costly and time-consuming public procurement process and are guaranteed to receive the lowest price available. The addition of FedRAMP-certified data hosting completes ECI's offering and reinforces EnergyCAP as the go-to energy management solution for federal agencies.

"We've served Federal agencies, including several military bases, with utility bill management and energy reporting software for decades. Obtaining an official Authorization to Operate in a cloud environment has been an important objective in serving more agencies and installations, and in satisfying important sustainability, energy reduction and expense accounting goals," according to Steve Heinz, ECI Founder & CEO.

Until now, many federal agencies have been required to host their EnergyCAP database on premises. By shifting the hosting responsibility to ECI, organizations reduce demands on their staff to maintain their EnergyCAP database(s), including software installation, setup, and maintenance. In addition to lower labor costs, agencies that license EnergyCAP no longer need to dedicate much-needed computer hardware and IT resources to host EnergyCAP on premises. The EnergyCAP implementation process is now much easier and faster, and customers can be confident that their data resides in a federally approved, secure hosting environment.

With the addition of the FedRAMP-certified hosting, ECI now offers three hosting service levels in addition to its Standard service: Advanced, Optimum, and FedRAMP. EnergyCAP customers that may want expanded services-multiple databases, automated process support, multi-factor authentication, event logging, and more-are encouraged to visit the company's Hosting Services page to learn about available options.

Learn more: https://www.energycap.com/pricing/database-hosting-services

About EnergyCAP:

EnergyCAP, Inc. has helped more than 10,000 energy managers in government, education, and commercial organizations derive value from their utility bills and energy data. Clients use our comprehensive EnergyCAP software-based solution to streamline utility bill processing and auditing, track energy and greenhouse gas data, process campus chargebacks, target reduction goals, benchmark facilities, submit to ENERGY STAR, measure and verify energy & cost savings, create budgets and forecasts, and much more.

Learn more at: https://www.energycap.com/

MEDIA CONTACT INFORMATION
For more information contact:
Blaine Clapper
Chief Marketing Officer
EnergyCAP, Inc.
Phone: 877.327.3702 x38
Email: blaine.clapper@energycap.com

*LOGO link for media: https://www.Send2Press.com/300dpi/21-0108s2p-energycap-300dpi.jpg

Related link: https://www.energycap.com/

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Business, Free News Articles, Real Estate, Taxes and Accounting

Paramount Property Tax Appeal Offers Free Evaluation to Affluent Homeowners and Business Property Owners, RE: ‘Tax-Reduction Solutions & Overcoming Changes to Tax Laws’

SAN DIEGO, Calif. -- Now that California Proposition 19 has passed, Wes Nichols, president of Paramount Property Tax Appeal Service in San Diego has decided to offer a free evaluation to affluent families, business property owners and homeowners who are transferring property to heirs or simply wish to lower their property taxes, or appeal their tax bill.

Families & individuals are invited to call the firm directly, or to drop by the office, to receive a free property tax reduction or tax appeal evaluation. Mr. Nichols is advising upscale California property owners that, "Property tax relief will be severely limited by changes to Proposition 58's Parent-to-Child Exemption. There are only 8-weeks left to prepare, evaluate and potentially appeal property taxes - usually reducing property tax by 20% to 30%."

The Paramount firm is stressing the fact that homeowners and commercial property owners are running out of time to prepare for changes to California property tax relief, that, if not addressed in Dec or Jan, will cost families and businesses thousands of dollars in unexpected, additional property taxes. Mr. Nichols states this is why Paramount Property Tax Appeal is opening their doors & phone lines to California property owners and families inheriting real property - so they can take advantage of the firm's offer, for the first time in their corporate history, to get a free evaluation focusing on Property Tax Reduction; Property Appraisal; Real Property Tax Appeal, Business Property Tax Appeal, and Business Personal Property Tax Compliance.

Company president Wes Nichols announced this week: "We can't emphasize enough how important it is for families to get in right now - this week or next week - to see us, so we can evaluate their estate planning and property tax situation, and complete their paperwork to lock in their future tax base. With Proposition 19 becoming property tax law, Californians only have until Feb. 2021 to complete estate planning, in order to pass down low assessed values to their children.

"Proposition 19 is designed to eliminate the Parent-to-Child Exemption (or Exclusion), for properties that are not owner-occupied homes within 12-months. This means homes, apartment buildings and other commercial properties will all be assessed at current, full market value when you transfer title to your children. As for appeals, we have an 80% success rate, which is a testament to our dedication and hard work for our clients."

It is worth noting that Paramount Property Tax Appeal is one of the few property tax firms in California that provides a large staff and complex data-system for proprietary property tax reduction solutions and tax appeal programs - guaranteeing parents the ability to pass down their low assessed value in the future to their children. Even if property is held in an LLC or a trust.

Mr. Nichols goes on to explain: "This year, Californians face unprecedented tax challenges unlike any year prior; due in part to the Coronavirus shutdown and resulting economic crisis, severely impacting property values and estate planning. Families with estate planning needs have to realize they only have 8-weeks left before the doors for California property tax relief from Proposition 13 and Proposition 58 slam shut - when Proposition 19 becomes active. This will dismantle tax breaks protected by the Parent-to-Child Exemption, which allows you to avoid property tax reassessment at current market rates."

"Folks should understand that by engaging us now, you start the process of setting up your tax appeal; to reduce your overall tax burden. Waiting until you're too close to the appeals deadline can be a recipe for disaster! Bottom line, we truly enjoy helping people - no matter what their net worth or property values are."

To get a free evaluation for trusts, estate planning, property tax appeals and property tax reduction, property owners can call the firm's main line at (858) 225-1200 with the option to discuss over the phone, or to come in and review their property tax and/or business personal property tax needs with a property tax specialist.

Paramount Property Tax Appeal
* Call: President Wes Nichols at (888) 385-9203
* Email: wes@pptaxappeal.com
* Website: https://www.paramountpropertytaxappeal.com
* https://www.facebook.com/ParamountPropertyTaxAppeal

Related link: https://www.paramountpropertytaxappeal.com/

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Business, Free News Articles, Real Estate, Taxes and Accounting

Paramount Property Tax Appeal Offers Free Consultation to California Property Owners, RE: ‘Tax-Reduction Solutions & Overcoming Changes Limiting Tax Breaks’

SAN DIEGO, Calif. -- Wes Nichols, president of Paramount Property Tax Appeal Service, is reminding California property owners that property tax relief will be severely limited by changes to the Proposition 58 Parent-to-Child Exemption, as Prop 19 will soon become law.

The Paramount firm is inviting property owners and families looking to lower their property taxes and/or transferring property to heirs, to get a free consultation There are only 3 months left to prepare, evaluate and potentially appeal property taxes - typically reducing property tax bills by 20% to 30%. Residential and commercial property owners are urged to prepare for specific changes to long standing property tax relief in California.

Paramount Property Tax Appeal is inviting California property owners to take advantage of the firm's unprecedented offer of a free consultation focusing on Property Tax Reduction; Property Appraisal; Real Property Tax Appeal, Business Property Tax Appeal, and Business Personal Property Tax Compliance.

Company president Wes Nichols announced this week: "Families have to get in now to see us so we can complete their paperwork, in terms of locking in their future tax base. With Proposition 19 becoming property tax law, folks only have until Feb. 2021 to complete estate planning, in order to pass down low assessed values to their children. Prop 19 is designed to eliminate the Parent-to-Child Exemption for properties that are not owner-occupied homes within a year. This means homes, apt. buildings and other commercial properties are all assessed at full market value when you transfer title to your children."

Paramount Property Tax Appeal is one of the few property tax related firms in California that offers unique property tax reduction solutions and proprietary programs to make sure parents can pass down their low assessed value in the future to their children. Even if property is held in an LLC or trust.

Mr. Nichols explains: "This year, Californians face unprecedented tax challenges unlike any year prior; due in part to the COVID shutdown and resulting economic crisis, impacting property values and estate planning. However, families with estate planning needs have only 3 months before the doors for California property tax relief from Proposition 13 and Proposition 58 slam shut - as Proposition 19 becomes law. Thereby dismantling key tax breaks protected by the Parent-to-Child Exemption - avoiding property tax reassessment at current market value."

"Folks should understand that by engaging us now, you start the process of setting up your tax appeal; to reduce your overall tax burden. Waiting until you're too close to the appeals deadline can be a recipe for disaster! Bottom line, we truly do enjoy helping people - middle class and working families, not just wealthy folks."

For the first time since its inception, Paramount is offering a free consultation on trusts, estates, property tax appeals and property tax reduction issues, to all California property owners interested in lowering their property tax bill, as well as transferring real property to their heirs. Property owners can call the firm's main office at 858.225.1200 with the option to come in and sit down informally with a property tax specialist, and discuss their property tax and/or business personal property tax issues.

Paramount Property Tax Appeal
Call: President Wes Nichols at (888) 385-9203
Email: wes@pptaxappeal.com

Website: https://www.paramountpropertytaxappeal.com/

Facebook: https://www.facebook.com/ParamountPropertyTaxAppeal

Related link: https://www.paramountpropertytaxappeal.com/

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Business, Free News Articles, Taxes and Accounting

Certified Tax Resolution Specialist, James Cha from Ace Plus Tax Resolution, Advises Non-Filers to File Their Back Tax Returns Now

LOS ANGELES, Calif. -- James Cha, a Certified Tax Resolution Specialist from Ace Plus Tax Resolution, urges taxpayers to file their tax returns as soon as possible, even if they missed the tax deadline or can't pay off, as they're only increasing their tax bill by delaying.

The IRS has started again to send the collection notices to taxpayers from late October. These notices were paused due to COVID-19. Now, the IRS's mail backlog is caught up enough to enforce non-payments, and they will start levy, lien, and other threatening collection activities.

The IRS has slowed down in many aspects due to COVID-19, but they never stopped investigating people who haven't filed tax returns. Pursuing non-filers can be one of the IRS's most efficient enforcement strategies because issuing non-filer notices can be a cost-effective tool that requires little more than automated notices.

There is an ever-increased chance that the IRS will start ramping up their collection activities right after the presidential election is over.

Consequences of Non-Filing

Why are there so many non-filers? Quite many people misunderstand and think, "If I don't file, then the IRS won't know. Then the IRS cannot pursue, lien, or levy me." Or, "I didn't get any notices the following year. I must've gotten away."

"However, this isn't true," says Ace Plus Tax Resolution's Certified Tax Resolution Specialist(R), James Cha. "Taxpayers are only increasing their tax bills by not filing and waiting. The IRS will investigate and catch up with non-compliant cases in the following years. Once the IRS system discovers those cases, it will send out warning letters and threaten non-filers. Failure to file a tax return may be construed as a criminal act by the IRS and can be punishable by up to one year in jail for each year not filed. If left unresolved, the non-filers find themselves in a tough spot when the IRS freezes their bank accounts, garnishes their wages, seizes or sells their assets, suspends their passports, takes their retirement funds, takes their home, and so much more."

Why Should Non-Filers File Tax Returns As Soon As Possible?

If a taxpayer hasn't filed tax returns in the past several years, it is strongly recommended that they file their returns as soon as possible, even if they can't pay them off at the moment.

If taxpayers fail to file or pay the returns, the IRS will keep adding penalties at an extremely high rate and also charge them interest. The IRS charges 5% of the amount due every month for failure to file, and 0.5% for failure to pay for a maximum of 25% each. Because of 0.5% reduction in penalty for any month, the maximum penalty amount combined is 47.5% of the taxes owed.

Compliance is Required before Resolution

Ace Plus Tax Resolution can bring you back to compliance by filing back tax returns, which will stop the failure-to-file penalty. What's important is that the taxpayer needs to be "current" with any filing obligations to be eligible for any back tax liability settlement with the IRS.

To be Current, You Must:

1. File tax returns for the most recent six years, and

2. Make current tax payments.
a. sufficient withholding (W-2 employee)
b. estimated tax payments (self-employed)
c. quarterly payroll tax deposits (business)

Ace Plus Tax Resolution's solutions include:

If qualified, Offer in Compromise allows a negotiation to settle back tax liability for a substantially reduced amount from the full amount owed. Keep in mind that the IRS can reject the offer if the financial documents are not professionally prepared or the taxpayer is not in compliance with the IRS. For applicants who have not filed all of their tax returns or made all required estimated tax payments or deposits, their offers will be rejected.

The Installment Agreement is for those who are unable to make the full tax payment immediately. There is a limit to how much they can owe to qualify for the agreement for online application. Thus, non-filers should consult with a tax relief professional for detailed information.

Another method is to see if they qualify for a Currently Not Collectible status upon submitting a financial statement. If the taxpayers have no means to pay the debt at the moment or anytime soon, they can request the IRS to delay the collection process until their financial situation improves. Note that this doesn't mean the back tax liability will disappear - the IRS can come back and collect your taxes years later. Other solutions include lien relief, release of wage or bank levies, penalty abatement, Bankruptcy Dischargeability Analysis, etc., depending on the non-filer's situation.

James adds on and says, "the IRS is making deals right now for back tax liability due to COVID-19. So, now is the best time to negotiate with the IRS."

Bottom Line

Without these alternative solutions, the amount the taxpayer owes to the IRS can become so massive that they cannot pay off the amount. It's like this huge snowball rolling downhill, getting bigger and bigger with growing penalties and interest. In fact, millions of taxpayers in America are delinquent in filing tax returns and are struggling to pay the IRS.

If you're struggling with tax problems, it is strongly recommended that you seek help from tax relief experts who can guide you through the most suitable resolution method and reduce the liability owed to the IRS to the lowest amount possible if you qualify. This can resolve your non-filing problems effectively and permanently.

​Learn more at - https://AcePlusTaxResolution.com

Watch why you should file back tax returns here and how a tax professional can help you: https://www.youtube.com/watch?v=6-761u9qxJs

James Cha is a CPA and Certified Tax Resolution Specialist(R) at Ace Plus Tax Resolution, providing permanent solutions to taxpayers with IRS and state tax problems. He has been representing his clients and dealing with the IRS for over 30 years. His practice is in Los Angeles, but his clients are across the nation. Call us at (213) 600-7388 or email at James@AcePlusTaxResolution.com.

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