Paul Baccas EA,CB Tax & Accounting Service

Services

Paul Baccas - Enrolled Agent & Certified Bookkeeper

Member National AssocIation of Enrolled Agents (NAEA) ADMITTED TO PRACTICE BEFORE THE IRS, National Association of Tax Professionals {NATP}, American Institute of Professional Bookkeepers (AIPB).

IRS Representation

If you OWE TAX, I can HELP WITH Offer in Compromise, Installment Agreement and Appeals. i can reduce or eliminate your tax debt

Accounting - Your Business is Important !

I provide accounting and financial planning. I will keep your books updated so you can worry about running your business.

So let me tackle your most pressing financial issues.

Tax News Alert

• Employees required to report to a meeting place before going to a work site must be paid for travel time between the meeting place and work site. For example, carpenters required to report to a tool shed to pick up tools must be paid for travel time from the tool shed to the job site (but not travel time from home to the tool shed).

You must pay employees for travel time among job sites during the work day and for travel time from the last job site to your office (or other company location) before they return home

The Cohan rule permits taxpayers who lack records of actual expenditures to ask the

IRS and Tax court to rely on reasonable estimates. But the estimates must have a factual or rational basis

Paid time-off (PTO) plans. PTO does not distinguish

between vacation, personal or sick days. This gives

employees some flexibility: Some states require paying

out unused PTO at termination as earned time

There is another provision in the tax code for taxpayers that owe less than $50,000 including penalties and interest. It is called The Streamlined Installment Agreement. The time limit is for payment over 72 months with IRS supervisor approval

Under Federal Wage and Hour Law, you need not pay overtime to executive, professional or administrative employees or to outside salespersons if they are paid a guaranteed salary of at least $844 per week, effective July 1, 2024

A tax levy is the seizing of a taxpayer's assests to pay the back tax debt. This include a garnishment of wages, a seizure of everything in the taxpayer's bank at a given time, Once a tax levy as been issued there is a opportunity to have it released and the money put back !!