GGG – Notes from Tax Accountant Jessica Estrada

Global Gals 08/29/2019

Attendees: Andi, Susan, Orchidea, Heather, Angela, Heidi, Megan, Sharon, Jen, Julie

Idea for future gatherings: Battleax hwy 15 or Friars

Lyme Disease:  Sharon speaking in October in San Diego.  Bay Area Lyme Foundation Speaker Series (San Fran non-profit). Officially launching San Diego Lyme Alliance. Wed, Oct 2, 4-6:30 pm. Sanford Burnham Research Institute. Family,  patients, Sharon speaking as a patient, talking about her journey and her family’s journey. Talks start at 5:00.

Speaker: Jessica Estrada, Tax Accountant

PacWest Tax Presentation

2018 Key Facts and Figures

Megan knows Jessica in her women’s networking group Infinite. Jessica partnered with another women at PacWest.

People’s interests and questions:

How to make tax bracket lower for FAXA application. W-2 – nothing to do to lower taxes.

Small business taxes.

Difference between State CA vs Federal.  Medical fees still allowed on Fed returns.

Long term care premiums.

Tax brackets: Look at taxable income.  Standard deduction is $19,000 Married $24,000 Single $12,000

Incremental system.

AMT: Alternative Minimum Tax. Was developed to tax the rich in 1982.  2018 recalculated AMT to account for inflation. Original Amt intent was to target the uber rich.

Jessica likes separate businesses. Schedule C – anything that passes to your personal income tax.

W-2 and you own a house -nothing to plan.

RSU: Restricted Stock Units

Jessica is an EA, Enrolled Agent, with IRS.  Jessica is not a CPA. CPA doesn’t change what she does for tax returns.

California did not conform to Federal tax laws.

Charitable contributions: Its better now to donate every other year.

Jessica Estrada
Tax Partner
PacWest Accounting
240 Newport Center Drive, Suite 215
Newport Beach, CA 92660
Tel: (619) 519-1259
Fax: (949) 209-0485