Blog

Owing Back Taxes could Affect Passport Renewal

Starting in February 2018, individuals with “seriously delinquent tax debts” will be subject to a new set of provisions courtesy of the Fixing America’s Surface Transportation (FAST) Act, signed into law in December 2015. The FAST Act requires the...

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Employers: Beware of the Form W-2 Scam

The Form W-2 scam has emerged as one of the most dangerous phishing emails in the tax community. During the last two tax seasons, cybercriminals tricked payroll personnel or people with access to payroll information into disclosing sensitive information for entire...

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Five Tax Breaks that Survived Tax Reform

Recent tax reform legislation affected many provisions in the tax code. Many were modified, either permanently or temporarily, while some were repealed entirely. Here are five that survived. 1. Mortgage Interest Deduction While the House bill repealed the mortgage...

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Updated Withholding Tables for 2018

Updated income-tax withholding tables have been released for 2018 reflecting changes made by the tax reform legislation enacted last month. The updated withholding information, available on IRS.gov, shows the new rates for employers to use during 2018. Employers...

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Tax Filing Season Begins; Tax Returns due April 17

More than 155 million individual tax returns are expected to be filed in 2018, according to the IRS, which began accepting electronic and paper tax returns on Monday, January 29, 2018. The January 29 opening date was set to ensure the security and readiness of key tax...

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Donating a Car to Charity

If you donated a car to a qualified charitable organization in 2017 and intend to claim a deduction, you should be aware of the special rules that apply to vehicle donations. Note: You can deduct contributions to a charity only if you itemize deductions using Schedule...

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Missing Important Tax Forms? Here’s what to do

Form W-2 You should receive a Form W-2, Wage and Tax Statement, from each of your employers for use in preparing your federal tax return. Employers must furnish this record of 2017 earnings and withheld taxes no later than January 31, 2018 (allow several days for...

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Wheeler Seeks Chief Administrative Officer

Opportunities await at Wheeler Accountants! Wheeler is seeking an experienced Chief Administrative Officer to join our team of growing professionals during this exciting growth phase in our firm. The Position: The Chief Administrative Officer works closely with the...

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Standard Mileage Rates for 2018

Beginning on January 1, 2018, the standard mileage rates for the use of a car, van, pickup or panel truck are: 54.5 cents for every mile of business travel driven, up 1 cent from the rate for 2017. 18 cents per mile driven for medical or moving purposes, up 1 cent...

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Choosing a Business Entity

When you decide to start a business, one of the most important decisions you’ll need to make is choosing a business entity. It’s a decision that impacts many things–from the amount of taxes you pay to how much paperwork you have to deal with and what...

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Important Tax Changes for 2018

As the New Year rolls around, it’s always a sure bet that there will be changes to current tax law and 2018 is no different now that many of the tax provisions pursuant to the Tax Cuts and Jobs Act of 2017 (TCJA) are in full effect. From health savings accounts...

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Small Business: Be Alert to Identity Theft

Small business identity theft is a big business for identity thieves. Just like individuals, businesses may have their identities stolen, and their sensitive information used to open credit card accounts or used to file fraudulent tax refunds for bogus refunds. As...

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It’s a Boy!

Congratulations to Partner, Jaclyn Skull on the birth of her second child. Anthony Jackson was born on December 23, 2017. He weighed 7 lbs 12 oz and was 20 inches long. Mom and baby are healthy and doing well. Brother, Jackson, is adjusting well to having...

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Wheeler Ugly Sweater and Cube Decorating Contest

Wheeler Accountants got into the holiday spirit this year! We had a great turn out for our annual Ugly Sweater contest and this year we also decorated our work areas. It was great seeing all of the holiday spirit at Wheeler. This made the judging decision difficult so...

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Five Common Budgeting Errors & How to avoid them

When it comes to creating a budget, it’s essential to estimate your spending as realistically as possible. Here are five budget-related errors commonly made by small businesses and some tips for avoiding them.  Not Setting Goals. It’s almost impossible to...

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Flexible Spending Accounts (FSAs)

Flexible Spending Accounts or FSAs provide employees a way to use tax-free dollars to pay medical expenses not covered by other health plans. Because eligible employees need to decide how much to contribute through payroll deductions before the plan year begins, now...

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Take Retirement Plan Distributions by December 31

Taxpayers born before July 1, 1947, generally must receive payments from their individual retirement arrangements (IRAs) and workplace retirement plans by December 31. Known as required minimum distributions (RMDs), typically these distributions must be made by the...

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Retirement Contributions Limits Announced for 2018

Cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for the tax year 2018 have been announced by the IRS. Here are the highlights: In general, income ranges for determining eligibility to make deductible...

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Business Tax Provisions: the Year in Review

Whether you file as a corporation or sole proprietor here’s what business owners need to know about tax changes for 2017. Standard Mileage Rates  The standard mileage rates in 2017 are as follows: 53.5 cents per business mile driven, 17 cents per mile driven for...

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2017 Annual Volunteer Day

On December 5, 2017, Wheeler Accountants spent the day helping a local non-profit that makes a big impact on the community.  This is an annual event that is looked forward to across the office, and is coordinated by our in house Events Committee. The year, Wheeler...

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San Jose Office

1475 Saratoga Ave, Ste 100

San Jose, CA 95129

Tel. (408) 252.1800

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734 E Lake Ave # 12

Watsonville, CA 95076

Tel. (831) 726.8500