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If you get a letter from The City of LA, Office of Finance they think you are in business. Generally, this letter is requesting that you file and pay for a Business License for the city of LA. You may or may not have to acquire a business license for the city of LA, but you do need to respond to this letter. Please give us a call if you want to discuss this issue.
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If you have a Corporation or LLC every year you are required to file a Statement Of Information with the Secretary of State. This filing brings a $25 fee for corporations and a $20 fee for LLC as of 2012. If you miss this filing the penalty is $250...
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The IRS has increased it express payment plan amount from $25,000 to $50,000 for 2012. What this means is that it is easier to set up a payment plan with them as long as you meet this requirement. Generally they will give you a 60 month payment period if what you owe them is less than $50,000 and you are current on all tax filings.
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"Failure to plan, is planning to fail" I don't know if this Proverb is necessarily true but if you would like to set up a Tax Planning meeting we would be happy to work with you.
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"To accomplish great things, we must not only act, but also dream; not only plan, but also believe." Anatole France
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