On March 7, the Department of Labor (DOL) released a proposed rule that would raise the so-called salary-level threshold for white-collar exemptions to $35,308 per year from $23,660. This means that the vast majority of employees earning under the threshold would need to be paid overtime. About 1 million workers may find themselves affected by… Read more

There’s still time left in the year to make some last-minute tax moves. If you are in a higher tax bracket this year or find more income in your paychecks due to lower tax reform rates, you may consider applying some of these strategies to your situation. 1. Give to a Good Cause Donating to… Read more

In a recent release by the Internal Revenue Service, corporations operating on a fiscal year that includes Jan. 1, 2018 will pay a blended federal income tax rate due to terms outlined in the Tax Cuts and Jobs Act (the Act). Many corporations choose to use a fiscal year instead of a traditional calendar year… Read more

On January 2, the President declared a major natural disaster for those areas affected by the Thomas Fire. Montecito’s recent mudslides brought another natural disaster to an already-scarred community. If you or someone you know was directly affected by these damaging events, please read the following tips on how taxpayers may be able to seek… Read more

The Social Security Administration released a few changes to the program making an impact in 2017. These changes include a slight increase in payments, rise in earnings limit, a higher tax cap and more. Slight Increase in Payments The beginning of this year brought a slight increase in social security payments by 0.3 percent. This… Read more