California, as well as several other states, have instituted a law that allows business owners to take advantage of State tax deductions that you wouldn’t be able otherwise. If you own an entity, S-Corp, or Partnership, you can pay your personal state tax at the entity level, deduct it on your federal entity return, thus lowering…

What Is A Living Trust? A lot of people wonder why they might need a living trust? How does it save me on taxes? I don’t have a lot of assets, what does that mean? I do have a lot of assets, what does that mean? There are several parts to a living trust, sometimes referred…

It’s now easier than ever to send Bernstein Financial Services your financial documents. Simply upload the files to SmartVault. Our clients were notified to upload their tax information to our SmartVault portal. We are notified each time you upload documents, but we do not know when you have uploaded ALL of your documents. In order to…

There is a lot of confusion out there about what needs to be reported on your 2021 tax return if you have purchased or sold Cryptocurrency.  Cryptocurrency is looked at by the IRS like a stock. There are two levels of reporting: If you purchased or sold Cryptocurrency during 2021, check the box YES on our…

Download our Bill Pay Checklist to keep track of your bills. Even if you keep your bills on auto-pay, it’s still a good idea to confirm and track your payments. Download