There are major changes coming to Californians in 2020. The individual mandate tax penalty will be reinstated which means that California Residents who choose not to buy qualified health insurance will face a penalty of either $695 per adult, $347.50 per child, or 2.5% of their annual income. To avoid a penalty, California residents need to have qualifying health insurance for themselves, spouse, and dependents in place on January 1, 2020.
The legislature is considering ballot initiatives for changing Estate Taxes and possibly Prop 13 amendments, stay tuned.
The Internal Revenue Service urges taxpayers who work multiple jobs or who may be adding summer employment to complete a Paycheck Checkup.
We will once again this year offer a week's stay at a Hawaiian Resort to one lucky taxpayer who has their taxes done by Freedom Tax Professionals. Drawing to be held after the tax deadline. You can earn additional entries by referring your friends and family!
Bobby had a great time in Hawaii and will be sharing some pictures soon so stay tuned!
Switch to Freedom Tax Professionals this tax season and we will save you 25% over what you paid last year! That's HUGE savings! Some conditions apply, subject to minimum charge $100.