Tax Information Updates

Sample icon1 What’s new in 2020? Find tax tips now!
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International Tax Services

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Voluntary Disclosure Service

Sample icon 3IRS third-round voluntary disclosure information & May’s articles
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2020-2021 Thanksgiving Letter and Tax Planning

November 25, 2020

Dear Friend,

Happy holidays to you and your family! It is a tough year, but there are reasons to celebrate in the holiday season and be thankful.

With Covid-19 lingering, we may not gather physically with our family for thanksgiving, but thank modern technologies, we can still gather virtually through social media and web meetings to show our love to family and friends. We are also thankful for the scientists’ hard work, the Covid-19 vaccine developments are in the final stage and will be available as early as next month. We will be free soon.

The election is over. The Democratic Party is still controlling the house with a slimmer majority. The Republican Party has a good chance of retaining the control of the Senate unless both Georgia Senate seats are taken by the Democratic Party in the run-off election. A split government is hard for Biden to manage, but business and investors celebrated it with record-high stock prices. It seems to be a popular belief that the Trump tax cut may be preserved and that Biden’s big tax hike may not be materialized.  

With the election outcome in mind, we have compiled  and uploaded to our website “2020-2021 Tax Information Guide,” which includes the following:

1)      major tax changes,

2)      tax planning tips, and

3)      2020/2021 COLA schedule.

We are thankful that we moved out of San Francisco downtown high-rise building before the pandemic and can work at the roomy and airy 342 Delano Ave office during the pandemic. We started working at home since March and minimized social contact with you. It may cause some inconvenience, but it is the most effective way to keep you and our associates safe and healthy. If you have any questions or concerns for your year-end and 2021 tax planning, please contact our office to set up a phone, Facetime, Line, WeChat, Zoom, or WebEx meetings. We do not recommend in-person meeting, but if you still need one, Covid-19 screening, face mask, and 6 feet social distancing rules are required.

In preparation for the new tax year, we are updating our email databases. If you have changed your e-mail address, please call our new numbers at (415) 347-7666 or email This email address is being protected from spambots. You need JavaScript enabled to view it. to let us know. This will help us send you a new encrypted tax organizer. If you would like to receive a paper copy of the tax organizer, please call or e-mail us to arrange the delivery.

If you have any questions regarding these materials and the year-end tax planning, you are welcome to call us or make an appointment.

 

Have a safe and Happy Thanksgiving!

May Ho, CPA, and Associates

 2020 Thanksgiving Letter - traditional Chinese

2020 Thanksgiving Letter - simplified Chinese

2020-2021 Tax Information Guide

2020-2021 Cost Of Living Adjustment

About CARES Act

 

Dear Clients,

 

In this difficult time of fending off pandemic, let me extend my warm regard to you and your family. Wish you safe and healthy.

 

To rescue the economy disrupted by COVID-19, the US Congress and the President acted swiftly to pass and sign into law the Coronavirus Aid, Relief and Economic Security Act(CARES Act).” This Act provides two trillion-dollar aids to individuals, businesses, state and local governments. Many of you have questions about how to qualify and apply for the aids. In this letter, we provide useful sources for you to seek help.

 

Attached please find a summary of the CARES Act in English, Traditional Chinese, and Simplified Chinese. We also provide the links to the websites in the summary to help you apply for the government aids step by step. Telephone calls to government agencies may take hours at this time of the season. My summaries and links should save you some time and trouble.

 

I have tried the Employer Emergency Loan applications; they are not very difficult to comprehend, but you must fill in your business income and expenses from February 1st, 2019 to January 31st, 2020 and provide your company’s 2019 wages. Please get your records ready and we will help you compile the financial reports as soon as possible. The government funding may run out very soon. Please act quickly.

 

We are here to help you go through this difficult time. If you have any questions, please give me a call. If you can’t reach me at 415-347-7666, please call my cell phone at 415-810-0545.

 

CARES Act Summary

CARES Act Summary Traditional Chinese

CARES Act Summary Simplified Chinese

 

May Ho, CPA

InterTax Inc.

InterTax Logo

2019 Tax Planning

 

 

 

2019-2020

Tax Information Guide

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

InterTax Inc.

342 Delano Ave

San Francisco, CA 94112 USA

 

Tel: (415)347-7666

Fax: (415)347-7687

www.intertax.com

This email address is being protected from spambots. You need JavaScript enabled to view it.

 

 

1. Happy Thanksgiving! Here is a letter for you!

English - Download; Traditional Chinese - Download; Simplified Chinese - Download

2. 2019 Year-end Tax Planning - Individual

English - Download; Traditional Chinese - Download; Simplified Chinese - Download

3. 2019 Year-end Tax Planning Business

English - Download; Traditional Chinese - Download; Simplified Chinese - Download

4. 2019-2020 COLA

English - Download; Traditional Chinese - Download

 

Letter Regarding COVID-19

A Letter to Our Clients

As the global Coronavirus pandemic approaching us, we face the challenges on our health and the disruption of our daily life. For those who are impacted or even ill, our hearts go out to you, and we wish you a speedy and complete recovery. 

To prevent the spread of the pandemic, San Francisco Bay Area counties have implemented Shelter-in-place policy. California Governor also ordered all Californians to stay home last night. Before the Shelter-in-Place policy took place, InterTax had implemented a work-from-home policy starting last week. We’ve temporarily closed our two offices and ceased to meet clients face to face, thanks to modem technology, our IT specialist, and employees, we set up our system in just a few days and our services has been in full function. The closure does not interrupt our services.

In response to the Coronavirus pandemic, IRS announced today that both the tax filing and payment deadlines are extended to July 15, 2020. California also extended return filing and tax payment dates to July 15, 2020. If you would like to know the updated state filing guidelines, please link to AICPA website: https://www.aicpa.org/content/dam/aicpa/advocacy/tax/downloadabledocuments/coronavirus-state-filing-relief.pdf.

We still encourage you to file and pay your taxes as soon as possible to avoid the traffic later. In addition, bunching all taxes and estimated taxes in one quarter may cause financial problem to some of you. But, if you are not able to collect the information or pay your taxes now or would like to take advantage of the interest-free “loan” by delaying your tax payments, you may do so.

It is more important than ever that we stay connected so we can support you and your business during this truly unprecedented situation. A phone call is the easiest way. You may call me at 415-347-7666 during office hours. If you can’t reach me, please call my cellphone at 415-810-0545. There are many other ways that we can send documents to each other. I would like to share with you the following methods:

  1. Portal: We have subscribed to the cloud file sharing service named “Portal” with our software company for years. This is the most secure way to share documents between us. You can scan or take pictures of your documents and upload them to the Portal. Please email or call us before you send us the documents. My assistants will send you a portal link.
  2. Email: We will send you the Encrypted files through email if you choose not to use Portal. You may email us the documents, but that is not secured.
  3. Drop off or mail: you can mail or drop off your documents to these two locations: 
    • 342 Delano Ave, San Francisco, CA 94112
    • 2574 16th Ave., San Francisco, CA 94116 
  4. Fax: you can still fax us the documents. Our fax number is 415-347-7687

 

There are some more ways to send the documents to us, but it will not be as secure as the Portal:

  1. Messages: you can take photos and send photos through cellphone messages. My cell phone number is 415-810-0545.  
  2. WeChat (微信): my Wechat ID is IntertaxCPA. You can also use my cellphone number 415-810-0545 to search for my account. 
  3. Line (): my Line ID is mayhocpa. If you can’t find me, please search my cellphone number 415-810-0545 and add me as your friend.
  4. WhatsApp: Please use 415-810-0545 to search for my ID. 
  5. Facetime: face to face conversation. 415-810-0545

 

When you send me the invitation to be your friend at the above social media, please identify who you are. I don’t accept a stranger’s invitation.   

We understand that for some reason you may decide not to use these modern technologies or have problems using them. In that case, please give us a call. We will find the best way to help you.

We understand that it is a very difficult time for all of us. I wish you safe and healthy.

Warm regards,


 

 
May Ho, CPA

President, InterTax Inc.

 

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Telephone: (415) 347-7666

Fax: (415) 347-7687

Address: 342 Delano Ave, San Francisco, CA 94112

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

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