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On July 4, 2025, President Trump signed the “One Big Beautiful Bill” Act (P.L. 119‑21), which makes the 2017 tax cuts permanent, increases the standard deduction and child tax credit, introduces deductions for tips and overtime, and raises the SALT cap to as much as $40,000
New Cap on Gambling Loss Deductions Starting 2026 As part of the bill, beginning January 1, 2026, gamblers will only be able to deduct 90% of losses against winnings—down from 100%—potentially creating “phantom income” for many
Wildfire Disaster Tax Relief (Jan 11, 2025) Governor Newsom announced a statewide filing and payment deadline extension to October 15, 2025, for 2024 returns and payments affected by Los Angeles wildfires
esidency Audit Ruling by California OTA (June 2, 2025) In a notable unpublished case, the California Office of Tax Appeals ruled that taxpayers maintaining strong ties (e.g., family home, licenses) remain California residents—even if they relocate to Nevada with driver’s licenses and out-of-state property
UPCOMING
EVENTS
April 15, 2025
Personal & State Returns Due
- 2024 CA state returns and payments due, though an automatic extension to October 15 is granted for filing (payment still due now)
Estimated Tax 1st Quarter Payment Due for both federal and California estimated taxes
June 16, 2025
2nd Quarter Estimated Tax Payment
California requirement; federal due one day later (June 17)
September 15, 2025 3rd Quarter Estimated Tax Payment Due for both California and federal
October 15, 2025
Extended Filing Deadline
Final day to file 2024 personal returns in California and federal (with extension)
Partnerships, S‑Corps, Corporations, Trusts
-
Extended return filing due for both CA and federal entities
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"I have been involved in taxes for as long as I can remember. I want to work for you. We need to create a more friendly IRS, that assists people not punishs them. Our organization will assist you in preparing your taxes, help you prepare for representation before the IRS in audit, appeals, collections, and other related matters. We assist low income, non English speaking citizens, retirees, limited English proficient (ESL), vererans, and all other eligible taxpayers."
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