Tax Preparer
Principal at
Dennis Jao, CPA, MBA
Brea California 92822
Dennis Jao, CPA, MBA is a full service Certified Public Accounting firm that specializes in helping small business owners—from determining and setting-up the best form of business entity for their situation to providing services for accounting, bookkeeping, payroll, tax planning and income tax preparation.
We partner with our clients and act as trusted and expert advisors to help them achieve their tax and financial goals and objectives. Our clients value our expert and up-to-date guidance and responsive customer service.
Other services include management consulting, training for QuickBooks and set-up, sales tax preparation, and financial and retirement planning.
Contact us today and learn more about our available services. Let our firm take care of handling your “books” so you can focus on growing your business!!!
Below is a list of the services we provide:
• Accounting
• Bookkeeping
• Payroll
• Tax planning
• Income tax preparation (business and personal)
• Management consulting
• Sales tax preparation
• Financial and retirement planning
What is a tax haven?A tax haven is usually an offshore country that gives foreign individuals and businesses little or no tax liability in an economically and politically static environment.Understanding...
Posted by Dennis Jao on 06/18/2021
Yes!!! But, as with almost everything related to income tax, whether business or personal, there are always exceptions.In general, you will be able to waive credit card charges and...
Posted by Dennis Jao on 06/11/2021
Transfer pricing is an accounting practice that represents the price that one division of one company charges another division for the goods and services provided.Transfer pricing...
Posted by Dennis Jao on 06/05/2021
Have you received a letter or an email from the IRS stating that you filed a tax return electronically or that your tax return was accepted or rejected by the IRS, but you did not...
Posted by Dennis Jao on 05/29/2021
Having a small business is the dream of many people, even though the intricacies involved in running a business is complicated. When you eventually add taxes each year, it gets tricky....
Posted by Dennis Jao on 05/24/2021
The May 17 deadline for filing your income tax is just a day behind us and if you’ve gotten an extension for your 2020 return, there will be penalties imposed by the IRS. If...
Posted by Dennis Jao on 05/18/2021
Getting ready to tie the knot with your heartthrob is a lifetime commitment that involves the heart, soul and finances. Without a doubt, both parties will deal with finances a...
Posted by Dennis Jao on 05/06/2021
State laws vary when it comes to the requirements for what counts as a legal will, but you generally need to make sure a few basics are covered.Although a testament and last will do...
Posted by Dennis Jao on 04/29/2021
Tax relief is a broad term that includes IRS programs designed to allow taxpayers to pay off their tax debts by reducing taxes owed or dividing the debt into affordable payments. If...
Posted by Dennis Jao on 04/26/2021
While filing income tax can be difficult for expats, we have good news. Extensions are available for your foreign tax return, and some are even automated! As an American, you're...
Posted by Dennis Jao on 04/17/2021
Imagine that you could invest in real estate with all the advantages and a few disadvantages of the market. You can skip the process of buying and maintaining a property and jump straight...
Posted by Dennis Jao on 04/06/2021
Freelancers often have much more freedom than their traditionally hired colleagues, but they also face unique challenges. One of the most important is the lack of an employer-sponsored...
Posted by Dennis Jao on 03/31/2021
What is Welfare?Welfare refers to various government programs that provide financial or other assistance to individuals or groups who cannot support themselves. Welfare assistance...
Posted by Dennis Jao on 03/26/2021
The Internal Revenue Service takes time to make sure your tax situation is up to date. The tax code allows the IRS three years to verify the tax return and ten years to collect the...
Posted by Dennis Jao on 03/16/2021
What is alimony payment? This is a payment between current spouses or ex-spouses due to an ongoing separation in a marriage or divorce. Alimony (sometimes called support) payments...
Posted by Dennis Jao on 03/05/2021
To help taxpayers adopt children, U.S. tax laws provide an adoption credit, up to an inflation-adjusted maximum, for adopting a child under 18 or a person of any age with a physical...
Posted by Dennis Jao on 02/28/2021
Everyone wants to save on taxes, and older Americans are no exception. If you're over 50, here are some tax tips that can help you get there.The standard deduction for the elderly: If...
Posted by Dennis Jao on 02/23/2021
If you request a medical exemption, you will need to complete IRS Form 8965 when filing for federal income tax. This form helps you comply with the Affordable Care Act's rules...
Posted by Dennis Jao on 02/16/2021
If you own or plan to invest in ETFs or mutual funds, you need to know what capital gains distributions are, how they can affect your investments, and how they can be taxed. This is...
Posted by Dennis Jao on 02/07/2021
In accordance with the TCJA, significant changes have been made to the child tax credit. These changes affect fiscal years 2020 and 2021 and beyond. This article will cover all the...
Posted by Dennis Jao on 01/30/2021
The road to the 2021 filing season might appear long. However, it does not come as a surprise that a handful of people are already taking steps towards their tax returns. Almost everyone...
Posted by Dennis Jao on 01/26/2021
The tense relationship between the U.S. government and Native American tribes has led to recurring disputes and confusion over tax issues. Native Americans do pay taxes, but some quirks...
Posted by Dennis Jao on 01/14/2021
The Federal Fuel Tax Credit is a program that allows businesses to reduce their taxable income dollar by dollar-based on specific types of fuel costs. The fuel tax credit encourages...
Posted by Dennis Jao on 01/06/2021
If you are a minister of the gospel, you are subject to complex tax and social regulations. We will examine: how your income is taxed; how to apply for the tax exemption on self-employed...
Posted by Dennis Jao on 12/31/2020
One of the ways to significantly reduce your business income tax is the business use of a vehicle. It is an important entity that you can use to bring down your tax for two reasons: The...
Posted by Dennis Jao on 12/25/2020
For people who have been in the military for a couple of years and want to transition to civilian life, there are some tax implications to have in mind.It is essential that you not...
Posted by Dennis Jao on 12/20/2020
Form 1099-MISC (miscellaneous income) is an IRS form that taxpayers use to report non-employee compensation. This is generally a commercial payment, not a personal payment.Freelancers,...
Posted by Dennis Jao on 12/12/2020
Not many people know how the Taxpayer Advocate Service (TAS) works and what types of cases it handles. Some have indicated that they see the TAS as primarily concerned with low-income...
Posted by Dennis Jao on 11/30/2020
There is some tax relief from the CARES Act to help charitable organizations cushion the coronavirus's effect. This tax relief aims to encourage donors for the 2020 tax return...
Posted by Dennis Jao on 11/24/2020
When allowable deductions exceed gross income in a fiscal year, you end up with a net operating loss. To calculate your business's net operating loss, you must deduct the tax deductions...
Posted by Dennis Jao on 11/16/2020
To be successful in the inventory acquisition process, you will need to monitor your business's two main aspects: efficiency and profitability. It's important to keep a schedule,...
Posted by Dennis Jao on 11/07/2020
Software programs and friends with minimal tax law knowledge will constantly try to convince you that filing your taxes is easy and simple. If you work one job, don’t own...
Posted by Dennis Jao on 10/28/2020
Buying a home is one of the most expensive purchases most of us will make, so anything that can lower a mortgage cost is worth considering.In addition to negotiating a good price and...
Posted by Dennis Jao on 10/21/2020
Tax advisors are involved in all aspects of their clients' personal and financial lives, and when a taxpayer dies, they can be one of the most valuable family counselors. Although...
Posted by Dennis Jao on 10/14/2020
Student loan rates are among the lowest we have ever seen in history. However, while the rates may seem attractive, there are still a few things to consider before taking out a student...
Posted by Dennis Jao on 10/01/2020
Caregivers, workers who perform in-home services, for disabled individuals and the elderly work under special tax rules. When a caregiver is employed, it is seen that he/she works...
Posted by Dennis Jao on 09/28/2020
There are two ways a business can make or lose money. You can profit from your sales activities or lose money by spending more than what you earn from sales. You can also earn or lose...
Posted by Dennis Jao on 09/18/2020
There are five types of tax filing status: head of household, married filing separately, married filing jointly, qualified widow, and single filing. The status of your tax return can...
Posted by Dennis Jao on 09/15/2020
Technology has redefined investment. Gone are the days when investors turned to chalk, paper, and blackboards while tracking trades and making calculations during trading. Today, as...
Posted by Dennis Jao on 08/31/2020
What is an LLC?An LLC (a limited liability company) is a business structure that protects limited liability and transfers taxes. As in the case of corporations, LLC legally exists...
Posted by Dennis Jao on 08/19/2020
The Treasury and SBA launched a PPP forgiveness loan that many borrowers will use to apply for the Paycheck Protection Program (PPP) loan. There is also an alternate EZ Form. In this...
Posted by Dennis Jao on 08/13/2020
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