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Sole Prop Tax Break For Those With Kids Under 18

by | May 17, 2014 | Sole Prop

Hi, I’m Tim Mayclin, CPA from Rohnert Park, California. If you operate your business as a sole proprietorship, and you have children under 18 years old you can pay them wages. You get the deduction and don’t pay payroll taxes on that amount. The kids...

Are Social Security Benefits Taxable?

by | May 10, 2014 | Taxes

Hi. I’m Tim Mayclin, CPA from Rohnert Park, California. Many of my clients ask me if their Social Security benefits are taxable. The answer is, it depends. On the federal level, Social Security benefits are taxable from 0%-85% based on your income. States have...

Incorporating Your Business In California

by | May 1, 2014 | Business Planning

Hi. I’m Tim Mayclin, CPA from Rohnert Park, California. If you’re thinking about incorporating your business, there’s a few requirements that you must do every year to maintain your corporate status in good standing. In California, you need to file a...