Ben Briones CPA Inc.

It’s almost never too late to start planning for retirement. Whether you already have large 401(k) or IRA balances or are starting from scratch, we can help craft a strategy that reflects your personal situation and addresses your goals. So start thinking about what’s important to you: Building a big nest egg, reducing income tax liability, something else … We’re here to help make it possible!

Boat owners may qualify for federal income tax breaks — but only if the boat meets specific requirements. For example, a vessel with sleeping, cooking and toilet facilities could qualify as a home for the mortgage interest itemized deduction. Itemizers may also be able to deduct eligible state and local sales tax paid on a boat, subject to applicable limits. Vessels used in bona fide businesses, such as charter fishing or sightseeing, can generate deductible business expenses. Before assuming your boat delivers tax savings, contact us at (818) 920-0633 to learn more. We can help determine your vessel’s eligibility and provide guidance on substantiating any write-offs.

An IRS levy is a legal action that allows the agency to seize your property to pay a tax debt. This can include taking funds from your bank accounts, garnishing your wages or claiming other assets, such as your car or house, to cover your tax balance. Levies don’t happen without warning. They generally happen after multiple notices and missed deadlines. Additionally, the IRS must send you a Final Notice of Intent to Levy and give you the right to request a hearing. If you receive notice of a levy, don’t ignore it! Acting quickly may help you prevent or release a levy. We’re here to help. Call us at (818) 920-0633.

Will Social Security benefits be available when you retire? Good question. These benefits are unlikely to disappear entirely. But payments may be smaller, and the qualifying age for full benefits (currently 65 to 67, depending on your date of birth) may increase. So it’s critical to take advantage of tax-deferred retirement vehicles and to make age-appropriate investments that can help you accumulate adequate savings. Call us at (818) 920-0633 to discuss your retirement goals and ways to achieve them.

Are tax problems weighing on you? If you’re facing IRS notices, unfiled tax returns or mounting tax debt, acting quickly can make a difference. We can help you evaluate resolution options and work with the IRS to possibly reduce the burden. Call us at (818) 920-0633 to discuss your situation and explore next steps.

Are rental real estate activities eligible for the qualified business income (QBI) deduction? The answer is a distinct “maybe.” This tax break allows eligible sole proprietors and owners of “pass-through” entities to deduct up to 20% of QBI. Pass-through entities include partnerships, S corporations and most limited liability companies. However, income from a rental real estate activity is QBI only if the activity rises to the level of a trade or business or meets an IRS safe harbor, which generally requires separate records, sufficient rental services and specific documentation. Various limits and other restrictions also apply. Call us at (818) 920-0633 to learn more.

If you rent out your primary residence or vacation home for no more than 14 days, you don’t have to report the income. (But you can’t deduct related expenses, such as advertising and cleaning.) If you rent it out for more than 14 days, the income is taxable. And you may be able to deduct expenses such as utilities, repairs, insurance and depreciation. Exactly what you can deduct depends on personal vs. rental use. The rules are complex, but tax savings opportunities are available. Call us at (818) 920-0633 to learn more.

Now is the perfect time to tidy up your QuickBooks files. Unreconciled accounts, uncategorized transactions and outdated records can distort your cash flow and profitability. Even with QuickBooks’ automation tools and AI-enabled features, consistent review and oversight are essential. Don’t forget your chart of accounts! An outdated or cluttered chart can muddy your results, making it harder to understand your true performance. Clean books support better financial decisions and smoother tax filings. Call us at (818) 920-0633 to help get your bookkeeping in top shape.

While the thresholds for the 3.8% net investment income tax (NIIT) have remained unchanged since the NIIT went into effect in 2013, taxpayer incomes have generally grown significantly. So more taxpayers are getting hit with this additional tax. The NIIT applies to the lesser of your net investment income or the amount by which your modified adjusted gross income exceeds the applicable threshold. And it kicks in long before the top short- and long-term capital gains rates apply. We can help you manage potential NIIT exposure. Contact us at (818) 920-0633.

Does your business provide complimentary on-site food and beverages for employees? The rules for deducting certain business meals have changed. Beginning in 2026, employers generally can’t deduct 1) meals treated as de minimis fringe benefits, or 2) employer-provided meals that are excludable from an employee’s income and provided for the employer’s convenience on business premises. For the 2025 tax year, generally the former were 100% deductible and the latter were 50% deductible. Contact us at (818) 920-0633 to discuss whether this change will affect your company and how to plan accordingly.