FAQ

Have a question? We have answers!

Whether you're an individual, business, or nonprofit organization, our goal is to provide you with the information you need to make informed decisions. If you don’t find the answers you’re looking for, feel free to reach out to our team directly—we’re here to help!

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How can I pay my income taxes to the IRS online?
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How can I pay my income taxes to the California Franchise Tax Board online?
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Should I buy or lease an automobile?
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Check with your tax advisor regarding lease payment and depreciation deduction limitations.

View edmunds.com to learn more.

Can I claim a home office deduction?
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If you use part of your home exclusively and regularly for business and you do not have another office location, please discuss with one of our tax advisors.

What is the business mileage rate?
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For 2025 the rate is $0.70 per mile.

What is the IRA contribution limit?
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For 2024 and 2025, the IRA contribution limit is $7,000. For individuals age 50 and over, the limit is $8,000.

What is the difference between a compiled, reviewed and audited financial statement?
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Each provides a different level of assurance. An audit provides the highest level of assurance and includes risk assessment, internal control evaluation and testing transactions; a review provides limited assurance and includes analytical procedures; and a compilation offers no assurance.

Guides

Document Retention Guide - Businesses

Maintaining proper records is essential for business entities to ensure compliance with tax laws and to support any claims or deductions on their tax returns.

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Guides

Document Retention Guide - Individuals

This guide provides an overview of the types of documents that should be retained and the recommended retention periods.

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