Golbar & Associates, LLP

DYK that once you’ve filed your tax return, the “Where's My Refund?” tool allows you to quickly check your refund status online?

Get started at: www.irs.gov/refunds

Happy Holidays from Golbar and Associates ❤️

The newest member of GAA! Welcome Logan and congratulations to Angie.

IRS investigators uncover billions in COVID tax fraud The service's Criminal Investigation unit investigated 975 tax and money laundering cases related to COVID-19 with fraud totaling $3.2 billion.

L.A. County extends eviction moratorium by 2 months The Board of Supervisors voted to extend the pandemic-era eviction moratorium by two months, to the end of March. The countywide moratorium was set to expire Jan. 31.

IRS Says Tax Filing Season Starts Monday: Here’s What to Expect The official tax-filing season will start Monday, Jan. 23, and the Internal Revenue Service says the amounts might be ...

Tax season has arrived!
Now's the time to mark your calendar with these key tax dates and deadlines.
Let's make sure you are ready to tackle your returns this year.

🏠office Deduction simplified ❗️.

As the new year is here, these are five things to add to your wishlist to ensure a healthy financial new year 2023!

Now that the pandemic is over, IRS is back with vengeance with unprecedented number of collection notices. They seem to be sending notices randomly these days in record numbers…

Ordinary and necessary business expenses can include everything from office supplies, to liability insurance, to work boots, and computers.
Should you ever be audited, "ordinary and necessary" is a category the IRS will look at when determining your eligibility for deductions and it is your responsibility to prove entries, deductions, and statements made on your tax returns-considered the burden of proof.
Most receipts automatically have the first three- -place,
date, amount-but to make deductions legit (should you get audited)
specifically for things such as meals and entertainment, you need purpose and person for your deduction to be valid.

Many young adults are turning to Gucci, Chanel, and Louis Vuitton to lift their spirits.
The record number of young adults living at home with their parents is driving the growth for luxury goods in the U.S. and the West, Morgan Stanley analysts say in their latest report.
U.S. Census data shows that nearly half of all young adults from ages 18 to 29 still live at home, the highest level recorded since the end of the Great Depression in 1940. Morgan Stanley attributes this growth to the rising cost of rental prices, the greater enrollment in higher education, and the delaying of marriage.

Recession ⚠️

Measure ULA, also known as the Homelessness and Housing Solutions Tax (HHS Tax), and usually referred to as a "mansion tax," has been approved by voters. The measure creates a new tax on certain property transfers in the city of Los Angeles.

Happy holidays…

Triple threat to Real Estate. Time will tell what would happen and if it happens, it could be overturned in the future... my guess is that if it happens, selling one to buy another will happen a lot less, more refinance would take place, intermediaries would be without customers and cash flow becomes more important than capital gain in investments.

Biden Tax Proposals Could Mean Pain for Real Estate | GlobeSt The triple threat would be a simultaneous end to the 1031, basis step-up on death, and doubling of capital gains.

Apply for this, if you qualify.

Small Business Administration We support America's small businesses. The SBA connects entrepreneurs with lenders and funding to help them plan, start and grow their business.