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Cook CPA Group

Tax Filing Requirements for Dependents in California

Every taxpayer wants to save as much money on their tax bill as possible. Claiming a dependent may make it easier to reach that goal. If you have a child, or if you provide care for an elderly or disabled family member, you may be able to save on your taxes by...

4 Reasons You May Need a Financial Statement Audit

A financial statement audit involves performing a detailed evaluation of a company’s financial records. Regular financial statement audits are essential to every business – particularly those that are undergoing rapid growth – when it comes to tax planning, legal...

What is a Financial Statement Audit in California?

Whether it is a bank, an insurance company, an advertising agency, or any other type of company, every business entity has to maintain accurate and crystal-clear financial records. A financial statement audit examines these records, alongside various disclosures,...

Tax Filing Requirements for LLCs in California

Due to its flexibility and ease of formation, the limited liability company (LLC) has gained popularity. However, despite being convenient, like any other business LLCs must also file various tax returns. The Internal Revenue Service (IRS) states that an LLC “may be...

FBAR Requirements for Green Card Holders in California

For tax filing purposes, taxpayers can be referred to as “residents” or “nonresidents.” U.S. residents must generally file a tax return, and meet additional requirements, on a yearly basis. Since green card holders are considered resident aliens, they have special...

What is the California Foreign Earned Income Exclusion?

The Foreign Earned Income Exclusion (FEIE) is a federal tax provision that allows eligible taxpayers to exclude foreign income from their U.S. tax returns. Unfortunately, there are some stark differences between state and federal laws that can make claiming the FEIE...