Deductions for Charitable Work

Have you done any charitable work over the past year? While being fulfilling, charitable work can also help you to reduce your tax liability!
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Check Up on Your Retirement Savings!

Everyone’s retirement needs may vary but the one thing that we all want is to live comfortably when we retire. Therefore, it is essential to take advantage of all the retirement saving opportunities.  Some of the things you can do are: Start early- With a long work career ahead, new hires will benefit from compounding their investments over many years. Join your employer’s 401(k)- Many employers have 401(k) plans which employees can sign up for. Also take full advantage of any employer matching. Increase your contributions into a...
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SEP Retirement Plan or Solo 401k

It is a great retirement plan for small business owners or for the self-employed. The contributions are tax deductible and so it is great for tax savings. It also has minimum or no filing requirements to the IRS. As a CPA, we can help you set up your retirement plan!
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Use Tax for Business

When an individual purchases an item within their resident state, full sales tax would be collected when the purchase is made. Use tax is similar to a sales tax. For businesses, it could be computers, equipment, or tools purchased without paying sales tax upfront. Use tax is applied when making out of state purchases where the purchaser’s resident state sales tax does not apply. The purchase can occur over the phone, mail or online. For example, San Francisco has a sale tax of 8.75% and Oregon doesn’t have a sale tax. If a business from San Francisco were to purchase equipment from Oregon, they would not pay any sales tax for Oregon but would have to pay the 8.75% use tax in San Francisco. It is the business owner’s responsibility to report and submit...
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Bookkeeping Summer Special $49.99!

We offer a special $49.99 per month to reconcile your Quickbook. Please call or email us for more details at (415) 742-5128 or sabrina@hageraccounting.com. Please mention the promotion code: BKS4999 for bookkeeping and accounting by a CPA and a Quickbook Pro Advisor!
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