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Cook CPA Group

How Do the 2017 Trump Tax Reforms Affect Business Entity Selection?

In December 2017, Congress passed a landmark tax reform law known as the Tax Cuts and Jobs Act (TCJA). The TCJA makes major changes to numerous elements of the Internal Revenue Code (IRC), including IRC provisions that impact business entities in California. These...

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...

2018 Tax Deadlines and IRS Due Dates

Most years, the deadline to file a federal income tax return is April 15. The 2018 tax filing deadline was pushed back to April 17, due to the timing of Emancipation Day. However, while it is certainly one of the most important, the April 15 (or April 17) tax deadline...

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...