News and Media

News and Media2018-10-15T13:09:26+00:00

2018 Tax Reform – How do the changes affect you?

In December 2017, the President signed into law the Tax Cuts and Jobs Act (“Tax Act” or “Act”), which introduces the most significant changes to the U.S. tax system since 1986. With a few exceptions, the provisions are generally effective starting in 2018. However, many of the changes are temporary and scheduled to sunset after […]

This Halloween Don’t Be A Horror Story

Just a quick note to wish everyone a safe Halloween, and to be watchful when driving for the kids out looting and pillaging your neighborhood for treats! Also, while reading an email blast from the AICPA today, I was reminded that Identity Theft can be a real life horror story, and you must be vigilant […]

CalCPA: Member Milestone

Onisko & Scholz, Long Beach, named Jeannie Clark a partner and promoted Brett Bradbury to manager and Jose Palafox to senior accountant ... Read More

Long Beach-Based CPA Conquers Mountains

His wife of 30 years was none-too-pleased with his decision. His two daughters said flat out he couldn’t go, and when he went for a check-up, the doctor said he’s certifiably crazy. But 63-year-old Paul Scholz, the managing partner of the certified public accountancy firm Onisko and Scholz in Long Beach, was in a funk. [...]

LA Business Journal: People on the Move

Onisko & Scholz is pleased to announce that Jeannie Clarkhas been named partner. Jeannie has worked at Onisko & Scholz since 2007 and has been in public accounting since 1987. Her areas of expertise include tax planning and preparation for closely held businesses, accounting services and state and local tax compliance engagements. Her industry experience includes: service [...]

COMMENT ON TAX REFORM IMPACT

As September 15 rolls into view its probably important to not only remind readers to make their quarterly estimated tax payments on time but also to evaluate whether they are sufficient. With the Tax Cuts and Jobs Act changing the tax landscape dramatically for some in 2018, you may want to refigure your payments. This […]

A Deduction a Day Keeps the Taxes Away

With the new standard deduction amounts being introduced in 2018, it might not be reasonable for taxpayers to itemize their deductions moving forward. However, if you still plan to itemize, here are some notable changes that you should take into account for 2018. Capping of the State and Local Taxes Deductions (SALT) The number to […]

Went for a walk…

I’ve always wanted to climb Mt Whitney and to backpack the John Muir Trail. So, I took a few weeks off just recently to regroup mentally and physically, and did both. The JMT is 220 miles of arguably the prettiest scenery in the United States, with high mountain lakes and pristine meadows amid towering granite […]

Medical Expenses for Misbehaved Children?

Do you have a child with behavioral issues? Did you know that expenses for the treatment as well as tuition for boarding schools may qualify as a medical expense? According to IRC Section 213, expenses paid for medical care of the taxpayer, spouse or a dependent may be allowed as a deduction. The Code gives […]

Draft “Postcard” Tax Return released by US Treasury

This final week in June has seen the release of the first draft of the upcoming 2018 “Postcard” Tax Return from the US Treasury. After months of waiting, we are finally getting a glimpse of the changes that will be impacting next year’s tax season, even if in preliminary form. Next year’s Individual Income Tax […]