◈ Homepage — http://cpaiam.com/Home Firm Profile Services Client Center Blog Contact Us (213) 891-9124 The Captain of Your Financial Ship Services for Individuals Business Services Tax Services QuickBooks Services Welcome to Abeye Hailu, CPA CPA firm licensed in Los Angeles, CA. We are a full-service CPA firm licensed in CA. We offer a broad range of services for business owners, executives, and independent professionals. We are affordable, experienced, and friendly. Our firm is one of the leading firms in the area. By combining our expertise, experience, and the energy of our staff, each client receives close personal and professional attention. Please call us today and we'll be happy to offer you a free initial consultation. Learn more about us Schedule a Consultation Featured Articles Turn a Real Estate Sale Into a Tax-Smart Strategy Selling investment or commercial real estate can result in a substantial tax bill if the property has appreciated signif... Read more Plan Carefully to Minimize Taxes on Your Inheritance Getting a large inheritance can create new financial opportunities. But it’s important to handle inherited assets ... Read more Before You Shred: Know Which Tax Records to Keep Tax documents can accumulate quickly. While clearing out old files can feel productive, it’s important not to disc... Read more An income tax form is like a laundry list - either way you lose your shirt. Fred Allen Subscribe to our Emailed Newsletter Client Center Financial Calculators Send Us A File Track Your Refund IRS Tax Forms State Tax Forms Tax Due Dates Contact Us Abeye Hailu, CPA 800 S Figueroa Street Suite 960 Los Angeles, CA 90017 Phone: (213) 891-9124 Fax: (213) 891-1731 [email protected] Resources Search Site Map Privacy Policy Disclaimer Portal Login Forgot Your Password? © 2026 Abeye Hailu, CPA ◈ Interior Pages — 33 pages crawledLos Angeles, CA CPA Firm | Graphic Intro Page | Abeye Hailu, CPA Home Firm Profile Services Individual Tax Services Business Tax Services Payroll Services Small Business Accounting IRS Tax Problems Help New Business Formation Business Consultation Strategic Business Planning Cash Flow Management Internal Controls Client Center Newsletter Guides Client Portal SecureSend Pay My Fee Financial Calculators Blog Contact Us (213) 891-9124 The Captain of Your Financial Ship Services for Individuals Protecting your personal assets has never been more important. --> Business Services Are you running your business at peak performance? --> Tax Services Don't pay more in taxes than you have to! --> QuickBooks Services Put this robust software to work for you. --> Welcome to Abeye Hailu, CPA CPA firm licensed in Los Angeles, CA. We are a full-service CPA firm licensed in CA. We offer a broad range of services for business owners, executives, and independent professionals. We are affordable, experienced, and friendly. Our firm is one of the leading firms in the area. By combining our expertise, experience, and the energy of our staff, each client receives close personal and professional attention. Please call us today and we'll be happy to offer you a free initial consultation. Learn more about us Schedule a Consultation Featured Articles An income tax form is like a laundry list - either way you lose your shirt. Fred Allen The hardest thing in the world to understand is the income tax. Albert Einstein The difference between death and taxes is death doesn't get worse every time Congress meets. Will Rogers --> Subscribe to our Emailed Newsletter Client Center Financial Calculators Send Us A File Track Your Refund IRS Tax Forms State Tax Forms Tax Due Dates Contact Us Abeye Hailu, CPA 800 S Figueroa Street Suite 960 Los Angeles, CA 90017 Phone: (213) 891-9124 Fax: (213) 891-1731 [email protected] Resources Search Site Map Privacy Policy Disclaimer Portal Login Forgot Your Password? © 2026 Abeye Hailu, CPA Los Angeles, CA CPA Firm | Business Consultation Page | Abeye Hailu, CPA Home Firm Profile Services Individual Tax Services Business Tax Services Payroll Services Small Business Accounting IRS Tax Problems Help New Business Formation Business Consultation Strategic Business Planning Cash Flow Management Internal Controls Client Center Newsletter Guides Client Portal SecureSend Pay My Fee Financial Calculators Blog Contact Us (213) 891-9124 Business Consultation Business Consultation In todays fast-paced, competitive world, many businesses face unprecedented challenges. Maybe yours does too. If you agree, then chances are you are spending more and more time on human resource issues, payroll tax compliance, and sales and use tax than you are on revenue generating opportunities and planning for future growth. If you feel like you are spinning your wheels, we are here to help you figure it out. Planning for strategic growth Performance metrics Review & evaluation of internal controls Budget and cash flow analysis Business entity selection and restructuring Evaluation and implementation of accounting software Contact us today! Strategic Business Planning A Strategic Business Plan is much more than a tool to obtain financing. If you still have all you plans and ideas locked up inside your head... preparing a strategic plan helps you clarify your company's direction,   Cash Flow Management A wise business owner once said, "Happiness is a positive cash flow." As a business owner, I'm sure you agree. Everything is better when your cash-in exceeds your cash-out. Internal Controls At times you may need a trained outside professional to evaluate your company's operations to determine if the appropriate controls are in place to ensure proper handling of resources and to protect yourself from employee theft.     Abeye Hailu, CPA 800 S Figueroa Street Suite 650 Los Angeles, CA, 90017 Phone: (213)891-9124 [email protected] Schedule a Consultation Get In Touch Featured Articles An income tax form is like a laundry list - either way you lose your shirt. Fred Allen The hardest thing in the world to understand is the income tax. Albert Einstein The difference between death and taxes is death doesn't get worse every time Congress meets. Will Rogers --> Subscribe to our Emailed Newsletter Client Center Financial Calculators Send Us A File Track Your Refund IRS Tax Forms State Tax Forms Tax Due Dates Contact Us Abeye Hailu, CPA 800 S Figueroa Street Suite 960 Los Angeles, CA 90017 Phone: (213) 891-9124 Fax: (213) 891-1731 [email protected] Resources Search Site Map Privacy Policy Disclaimer Portal Login Forgot Your Password? © 2026 Abeye Hailu, CPA Los Angeles, CA CPA Firm | Guides Page | Abeye Hailu, CPA Home Firm Profile Services Individual Tax Services Business Tax Services Payroll Services Small Business Accounting IRS Tax Problems Help New Business Formation Business Consultation Strategic Business Planning Cash Flow Management Internal Controls Client Center Newsletter Guides Client Portal SecureSend Pay My Fee Financial Calculators Blog Contact Us (213) 891-9124 Guides Guides Life Events Life is full of changes, and surprises. Use these guides to help you make sound financial decisions.   Business Strategies Learn how to start, run and eventually sell a successful business. Investment Strategies Why leave your money sitting in a bank account earning for other people when you can put it work for yourself? This section is dedicated to tested and proven investment strategies and concepts.   QuickBooks Tips Please take a look at these shortcuts and "tricks of the trade" designed to save you time and make your QuickBooks experience even more productive. Tax Strategies for Individuals Learn how to lower your taxes with these legitimate tax saving strategies.   Tax Strategies for Business Owners Find perfectly legal tax deductions that you may be missing. Frequently Asked Questions Over 500 every day financial questions answered.     Abeye Hailu, CPA 800 S Figueroa Street Suite 650 Los Angeles, CA, 90017 Phone: (213)891-9124 [email protected] Schedule a Consultation Get In Touch Featured Articles An income tax form is like a laundry list - either way you lose your shirt. Fred Allen The hardest thing in the world to understand is the income tax. Albert Einstein The difference between death and taxes is death doesn't get worse every time Congress meets. Will Rogers --> Subscribe to our Emailed Newsletter Client Center Financial Calculators Send Us A File Track Your Refund IRS Tax Forms State Tax Forms Tax Due Dates Contact Us Abeye Hailu, CPA 800 S Figueroa Street Suite 960 Los Angeles, CA 90017 Phone: (213) 891-9124 Fax: (213) 891-1731 [email protected] Resources Search Site Map Privacy Policy Disclaimer Portal Login Forgot Your Password? © 2026 Abeye Hailu, CPA Los Angeles, CA CPA Firm | Privacy Policy Page | Abeye Hailu, CPA Home Firm Profile Services Individual Tax Services Business Tax Services Payroll Services Small Business Accounting IRS Tax Problems Help New Business Formation Business Consultation Strategic Business Planning Cash Flow Management Internal Controls Client Center Newsletter Guides Client Portal SecureSend Pay My Fee Financial Calculators Blog Contact Us (213) 891-9124 Privacy Policy Privacy Policy Here is our Privacy Policy required by the Gramm-Leach-Bliley Act of 1999. We collect nonpublic personal information about you from the following sources: Information we receive from you on applications, tax organizers, worksheets and other documents; Information about your transactions with us, our affiliates, or others; Information we receive from a consumer-reporting agency. We do not disclose any nonpublic personal information about our clients or former clients to anyone, except as permitted by law. We restrict access to nonpublic personal information about you to those members of our firm who need to know that information to provide services to you. We maintain physical, electronic, and procedural safeguards that comply with federal regulations to guard your nonpublic personal information. Online information is stored on secure servers located in CPA Website Solutions SOC 1 certified datacenters. If you have any questions about this policy, please do not hesitate to contact us. Abeye Hailu, CPA 800 S Figueroa Street Suite 650 Los Angeles, CA, 90017 Phone: (213)891-9124 [email protected] Schedule a Consultation Get In Touch Featured Articles An income tax form is like a laundry list - either way you lose your shirt. Fred Allen The hardest thing in the world to understand is the income tax. Albert Einstein The difference between death and taxes is death doesn't get worse every time Congress meets. Will Rogers --> Subscribe to our Emailed Newsletter Client Center Financial Calculators Send Us A File Track Your Refund IRS Tax Forms State Tax Forms Tax Due Dates Contact Us Abeye Hailu, CPA 800 S Figueroa Street Suite 960 Los Angeles, CA 90017 Phone: (213) 891-9124 Fax: (213) 891-1731 [email protected] Resources Search Site Map Privacy Policy Disclaimer Portal Login Forgot Your Password? © 2026 Abeye Hailu, CPA Los Angeles, CA CPA Firm | Contact Us Page | Abeye Hailu, CPA Home Firm Profile Services Individual Tax Services Business Tax Services Payroll Services Small Business Accounting IRS Tax Problems Help New Business Formation Business Consultation Strategic Business Planning Cash Flow Management Internal Controls Client Center Newsletter Guides Client Portal SecureSend Pay My Fee Financial Calculators Blog Contact Us (213) 891-9124 Contact Us Contact Us If you have any unanswered questions, please let us know. There are five easy ways to contact us. Simply call, email, fax, write or just stop by. Abeye Hailu, CPA 800 S Figueroa Street Suite 960 Los Angeles, CA 90017 [email protected] Phone: (213) 891-9124 Fax: (213) 891-1731 Google Business Profile Fill out the form below to e-mail us. Name * E-Mail * Phone Number Best time to call Comments   Abeye Hailu, CPA 800 S Figueroa Street Suite 650 Los Angeles, CA, 90017 Phone: (213)891-9124 [email protected] Schedule a Consultation Get In Touch Featured Articles An income tax form is like a laundry list - either way you lose your shirt. Fred Allen The hardest thing in the world to understand is the income tax. Albert Einstein The difference between death and taxes is death doesn't get worse every time Congress meets. Will Rogers --> Subscribe to our Emailed Newsletter Client Center Financial Calculators Send Us A File Track Your Refund IRS Tax Forms State Tax Forms Tax Due Dates Contact Us Abeye Hailu, CPA 800 S Figueroa Street Suite 960 Los Angeles, CA 90017 Phone: (213) 891-9124 Fax: (213) 891-1731 [email protected] Resources Search Site Map Privacy Policy Disclaimer Portal Login Forgot Your Password? © 2026 Abeye Hailu, CPA Los Angeles, CA CPA Firm | Newsletter Page | Abeye Hailu, CPA Home Firm Profile Services Individual Tax Services Business Tax Services Payroll Services Small Business Accounting IRS Tax Problems Help New Business Formation Business Consultation Strategic Business Planning Cash Flow Management Internal Controls Client Center Newsletter Guides Client Portal SecureSend Pay My Fee Financial Calculators Blog Contact Us (213) 891-9124 Newsletter Newsletter Our regularly updated newsletter provides timely articles to help you achieve your financial goals. Please come back and visit often. May 2026 Feature Articles Turn a Real Estate Sale Into a Tax-Smart Strategy Before You Shred: Know Which Tax Records to Keep Plan Carefully to Minimize Taxes on Your Inheritance Tax Tips How Hiring Your Child This Summer Can Reduce Taxes Review Your Withholding After Filing More Entities Gain Access to IRS Business Tax Account QuickBooks Tips Modernize Your Payables with QuickBooks Online   Email Updates Enter your email below to subscribe to our monthly newsletter. Email RSS Feed Print This Page Tax Due Dates Any accounting, business or tax advice contained in this communication, including attachments and enclosures, is not intended as a thorough, in-depth analysis of specific issues, nor a substitute for a formal opinion, nor is it sufficient to avoid tax-related penalties. If desired, we would be pleased to perform the requisite research and provide you with a detailed written analysis. Such an engagement may be the subject of a separate engagement letter that would define the scope and limits of the desired consultation services. Turn a Real Estate Sale Into a Tax-Smart Strategy Selling investment or commercial real estate can result in a substantial tax bill if the property has appreciated significantly. One strategy to help ease your tax burden is an installment sale. What’s an Installment Sale? In an installment sale, the seller gets at least one payment after the tax year in which the sale occurs. So, if you sell investment or commercial real estate, instead of receiving the full purchase price all at once, you get payments over time. This allows you to defer recognition of gain and spread the tax liability over several years. Installment sales can also help attract more buyers because they won’t have to pay the entire price upfront and obtaining financing might be easier. 2 types of installment sales There are a couple of ways to set up an installment sale: 1. Traditional. This generally involves the buyer making payments directly to the seller under the terms of a promissory note. 2. Structured. Here, a third-party assignment company or financial institution assists with the transaction and oversees the payment schedule. The third party typically assumes responsibility for future payments to the seller, which may reduce the seller’s risk. Tax Considerations Gains from real estate held for more than one year are typically taxed at favorable long-term capital gains rates — 15% for most taxpayers and 20% for higher-income taxpayers. For 2026, the 20% rate applies when taxable income exceeds $545,500 (singles), $579,600 (heads of household), $613,700 (married couples filing jointly) or $306,850 (married couples filing separately). With the gain spread over multiple years, an installment sale may help keep you below the 20% rate threshold. Depending on your income level, it might also help prevent you from triggering the 3.8% net investment income tax (NIIT), or at least reduce your NIIT liability. The NIIT applies to net investment income to the extent that modified adjusted gross income exceeds $200,000 (singles and heads of household), $250,000 (joint filers) or $125,000 (separate filers). However, several tax rules can complicate installment sales. For example, depreciation recapture must be reported as ordinary income in the year of sale, even if payments are received later. Only the remaining gain can be spread out under the installment method. The good news is that if your marginal ordinary rate is 32%, 35% or 37%, depreciation recapture is taxed at only 25%. Additionally, installment agreements exceeding $5 million may trigger an IRS interest charge on the deferred tax. Special rules apply to related-party sales and may accelerate the remaining tax if the property is resold within two years. Electing Out Installment reporting is generally automatic if you sell property and receive at least one payment after the tax year of the sale. However, you can choose to elect out of it and report the entire gain in the year of sale. This might make sense if you expect higher tax rates in future years, have current-year losses or deductions that could offset the gain, or want to accelerate income for financial planning purposes. When you file your tax return for the year of the sale, you can decide whether to elect out. Moving Forward Installment sales can be complex. If you’re thinking about selling investment or commercial real estate, contact the office to determine whether an installment sale makes sense for your situation. Before You Shred: Know Which Tax Records to Keep Tax documents can accumulate quickly. While clearing out old files can feel productive, it’s important not to discard anything until you’ve reviewed some record-retention guidelines. Why Good Recordkeeping Is Important Well-organized records make it easier to prepare accurate tax returns and respond if the IRS requests additional information or examines your return. Documents such as receipts and bank statements should support the income, deductions and credits you report. Good recordkeeping also helps you monitor financial activity throughout the year. And it can simplify preparing future tax returns or amended returns. The General Rule Records that support a tax return should generally be kept until the statute of limitations expires for that return. In general, the IRS has three years to assess additional tax after a return is filed. Returns filed before the due date are considered filed on the due date. This three-year window is why you should keep supporting documentation — such as W-2 and 1099 forms, receipts and charitable contribution records — for at least that long. Situations That Extend the Timeframe Certain circumstances allow the IRS additional time to review a return. For example, the statute of limitations increases to six years if more than 25% of gross income is omitted from a return. If a taxpayer fails to file a return or files a fraudulent return, there’s no time limit on when the IRS can assess tax. Additionally, the timeframe for claiming a refund generally extends to three years after filing the return or two years after paying the tax, whichever is later. (This generally would require filing an amended return.) Don’t Discard These Records Too Soon Some documents should be retained beyond the typical three-year period because they may affect multiple tax years or support future transactions. These include: Property and investment records. You should keep records related to property (such as real estate) or investments (such as stocks or bonds) for as long as you own the asset, plus at least three years after it’s sold. These records are needed to calculate the basis, gain or loss when the asset is sold. Retirement plan records. Retain retirement and pension documents for as long as the accounts have funds and for at least three years after the accounts are closed or funds are withdrawn. Keep records of nondeductible IRA contributions indefinitely to prove taxes were already paid on those amounts. Bad debt or worthless securities deductions. Records supporting these claims should generally be kept for seven years from the date the return was due. Filed tax returns. Proof of filing should be kept for at least as long as the statute of limitations applies to that Los Angeles, CA CPA Firm | Services Page | Abeye Hailu, CPA Home Firm Profile Services Individual Tax Services Business Tax Services Payroll Services Small Business Accounting IRS Tax Problems Help New Business Formation Business Consultation Strategic Business Planning Cash Flow Management Internal Controls Client Center Newsletter Guides Client Portal SecureSend Pay My Fee Financial Calculators Blog Contact Us (213) 891-9124 Services Services Individual Tax Services Whether we like it or not, today's tax laws are so complicated that filing a relatively simple return can be confusing. It is just too easy to overlook deductions and credits to which you are entitled.   Business Tax Services As a small business owner you have more important things to do than to keep your own books. We take care of your books for you, so you can get back to the job of running your business and generating profits. Payroll Services When it comes to paying employees, laws and the IRS have made the payroll function a time consuming nightmare for the small business owner.   Small Business Accounting As a small business owner you have more important things to do than to keep your own books. We take care of your books for you, so you can get back to the job of running your business and generating profits. IRS Tax Problems Help We're here to help you resolve your tax problems and put an end to the misery that the IRS can put you through. We pride ourselves on being very efficient, affordable, and of course, extremely discrete.   New Business Formation Opening your own business is exciting and thrilling. It's everything that comes after the excitement and thrill has worn off that dictates whether a small business will make it or not. Business Consultation     Abeye Hailu, CPA 800 S Figueroa Street Suite 650 Los Angeles, CA, 90017 Phone: (213)891-9124 [email protected] Schedule a Consultation Get In Touch Featured Articles An income tax form is like a laundry list - either way you lose your shirt. Fred Allen The hardest thing in the world to understand is the income tax. Albert Einstein The difference between death and taxes is death doesn't get worse every time Congress meets. Will Rogers --> Subscribe to our Emailed Newsletter Client Center Financial Calculators Send Us A File Track Your Refund IRS Tax Forms State Tax Forms Tax Due Dates Contact Us Abeye Hailu, CPA 800 S Figueroa Street Suite 960 Los Angeles, CA 90017 Phone: (213) 891-9124 Fax: (213) 891-1731 [email protected] Resources Search Site Map Privacy Policy Disclaimer Portal Login Forgot Your Password? © 2026 Abeye Hailu, CPA Los Angeles, CA CPA Firm | Internal Controls Page | Abeye Hailu, CPA Home Firm Profile Services Individual Tax Services Business Tax Services Payroll Services Small Business Accounting IRS Tax Problems Help New Business Formation Business Consultation Strategic Business Planning Cash Flow Management Internal Controls Client Center Newsletter Guides Client Portal SecureSend Pay My Fee Financial Calculators Blog Contact Us (213) 891-9124 Internal Controls Internal Controls At times you may need a trained outside professional to evaluate your company's operations to determine if the appropriate controls are in place to ensure proper handling of resources and to protect yourself from employee theft. We assess your internal control systems to determine the efficiency and effectiveness of your operating procedures. Then we make recommendations that help your company become stronger and more profitable by correcting any inefficient or ineffective operating procedures we find. What we do for you... Implement segregation of duties so that duties are divided, or segregated, among different people to reduce risk of error or inappropriate actions. No one person has control over all aspects of any financial transaction.   Make sure transactions are authorized by a person delegated approval authority when the transactions are consistent with policy and funds are available.   Ensure records are routinely reviewed and reconciled, by someone other than the preparer or transactor, to determine that transactions have been properly processed.   Make certain that equipment, inventories, cash and other property are secured physically, counted periodically, and compared with item descriptions shown on control records.   Provide employees with appropriate training and guidance to ensure they have the knowledge necessary to carry out their job duties, are provided with an appropriate level of direction and supervision, and are aware of the proper channels for reporting suspected improprieties.   Document policies and procedures and making them accessible to employees. The documented policies and procedures provide day-to-day guidance to your staff and continuation of duties in the event of prolonged employee absences or turnover.   Review operations to ascertain whether results are consistent with established objectives and goals and whether the operations are being carried out as planned. If you'd like more information about our internal control services please complete this form to setup a Free Consultation . Name Phone Email Best Time To Call Comments Abeye Hailu, CPA 800 S Figueroa Street Suite 650 Los Angeles, CA, 90017 Phone: (213)891-9124 [email protected] Schedule a Consultation Get In Touch Featured Articles An income tax form is like a laundry list - either way you lose your shirt. Fred Allen The hardest thing in the world to understand is the income tax. Albert Einstein The difference between death and taxes is death doesn't get worse every time Congress meets. Will Rogers --> Subscribe to our Emailed Newsletter Client Center Financial Calculators Send Us A File Track Your Refund IRS Tax Forms State Tax Forms Tax Due Dates Contact Us Abeye Hailu, CPA 800 S Figueroa Street Suite 960 Los Angeles, CA 90017 Phone: (213) 891-9124 Fax: (213) 891-1731 [email protected] Resources Search Site Map Privacy Policy Disclaimer Portal Login Forgot Your Password? © 2026 Abeye Hailu, CPA Los Angeles, CA CPA Firm | Individual Tax Services Page | Abeye Hailu, CPA Home Firm Profile Services Individual Tax Services Business Tax Services Payroll Services Small Business Accounting IRS Tax Problems Help New Business Formation Business Consultation Strategic Business Planning Cash Flow Management Internal Controls Client Center Newsletter Guides Client Portal SecureSend Pay My Fee Financial Calculators Blog Contact Us (213) 891-9124 Individual Tax Services Individual Tax Services  Tax Preparation Services In Los Angeles, CA I am an individual taxpayer. Files in a Mess, and It’s Almost April? No Problem! How Abeye Hailu Can Help You Save Time and Money This Tax Season If you’ve ever attempted to prepare your IRS taxes on your own, you know what a headache the process can be. How many times have you had to stop to look up whether a specific line applies to you? It’s not that you’re not good at doing taxes – it’s just that today’s tax codes are overly complicated. Even if you’re filing a simple individual tax return with a single source of income, you’re bound to make some mistakes. Whether it’s missing out on tax credits and deductions that would have saved you hundreds of dollars or simply making a miscalculation, the majority of mistakes on your tax form will hurt you. Our goal should be to complete these tax forms as quickly and easily as possible, while simultaneously not making any mistakes and applying for all tax credits and deductions possible. How to Avoid the Post-April “Tax Regret” Instead of kicking yourself for missing out on deductions that were readily available to you or for paying more than you needed, get it right the first time. Easier said than done, right? That’s where I come in. Avoid the painful bookkeeping and calculations of the tax season, passing them off to me instead. I  take pride in systemizing everything for my clients. When you hand your individual tax papers to me, I’ll not only organize all your files with my bookkeeping services, but I’ll also create a system for you to keep your Internal Revenue Service taxes in order for next year. What I Had to Go Through Most people don’t actively think about what a Certified Public Accountant (CPA) has to go through. In my education, I had to learn books full of tax codes and laws. It wasn’t fun, but the outcome is this: I know how to save you money on your tax return. The average person doesn’t know what I do. Instead, he goes through his 1040, line-by-line, following the (vague) instructions. However, robotically following the instructions on the form is often the worst way to file your taxes because you’ll be missing out on the many, many tax reduction strategies that I’ve learned through my education an experience as a Los Angeles CPA. How to Save Money on Your Taxes At this point in my career, I’ve have  one single objective: maximize your post-tax income. Whatever I read a new tax law or regulation, all that runs through my mind is, “How can I use this to help my clients keep more of their own hard-earned money?” In fact, I don’t even call myself an accountant anymore; I now go by Strategic Tax Advisor When you call me in for your free consultation, you’ll find that: You won’t have to fill out any of your own forms. You won’t need to look up any laws. You won’t have to dig through past forms or files. In fact, you won’t have to even lift a finger. You supply me with your current information and answer some of my questions, and I’ll do all the work. The time you save is itself well worth my fee. Don’t Wait until April 15th Hopefully, you’re reading this well before April. As you can imagine, most people don’t start preparing their taxes until April is looming. In general, as long as you call me before March 15 th , I can complete your tax return by the deadline of April 15 th . Please be aware that I have a huge influx of clients during tax season. To be safe, contact me before March 15 th , if possible. I can often complete your individual tax form after March 15 th , as well, but I will often have to file a tax extension, which will be troublesome for both you and me (for different reasons). So contact me as early as possible. Possible Savings The first way to save big on your tax filing is through deductions. Tax deductions *technically* lower your gross income, which can often put you in a lower tax bracket, allowing you to pay less taxes – even though your income is the same! But even better than tax deductions are tax credits. Finding a tax credit is literally equivalent to deleting taxes owed! If you’re filing your taxes without knowing what tax credits are available to you, you’re just throwing away money. I don’t mean to brag, but this must be said. When you call me out to file your taxes, you’re gaining access to my 25 years of experience  that allows  you to leverage all of the tax deductions and credits available to you. Let’s be realistic. Even if you had all the time in the world (well, until April 15 th , anyway) to do your taxes on your own, you can’t possibly discover all of the little tips and tricks I’ve stumbled across in my years as a CPA and business person. I’m different from all the others CPAs in that my sole goal is to help you keep as much of your own hard-earned money as possible without breaking any laws. The Benefits of Calling Me If the allure of extra money isn’t enough to convince you to call me, let me just list some of the other benefits that you’ll get through my individual tax service: Convenience: Free up time for your family and hobbies. Professionalism: A professional tax form makes you less likely for an audit. Insurance: I’ll make sure your tax form gets in on time and isn’t penalized, even if I have to file an extension for you. Customization: You won’t get a cookie-cutter solution. Instead, you’ll get an individualized road map for your tax situation. Did I mention all the possible tax deductions and tax credits available? Indirectly, here’s how my strategies of applying all the tax credits and tax deductions possible will help you in the long-run, an area-by-area analysis. Save on: Income taxes: Use the money you have now for new investments or other purposes – don’t just let the government “hold onto” your money without reason. Estate taxes: Provide for your family and have extra money in case of family emergencies. Investment taxes: Keep more money in your investments, allowing your investments to leverage the power of compound interest and grow more quickly. Gift taxes: Don’t be penalized for doing good things for others. Retirement taxes: Stay on track for your long-term retirement goals. Proof My Methods Work I could tell you about my methods – loopholes such as shifting certain expenses to other tax years so as to obtain lower tax rates. But it’s always better to have other people state their own experiences. Here are what some of my clients say about my services.             If you have a problem with IRS go to Abeye Hailu,CPA.                                Adan Reynoso.  Los Angeles CA                      Mr Abeye Hailu has been my cpa since 1993. His staff has always given me  excellent service .                                     They are courteous,honest,dependable and handle business in Los Angeles, CA CPA Firm | Graphic Intro Page | Abeye Hailu, CPA Home Firm Profile Services Individual Tax Services Business Tax Services Payroll Services Small Business Accounting IRS Tax Problems Help New Business Formation Business Consultation Strategic Business Planning Cash Flow Management Internal Controls Client Center Newsletter Guides Client Portal SecureSend Pay My Fee Financial Calculators Blog Contact Us (213) 891-9124 The Captain of Your Financial Ship Services for Individuals Protecting your personal assets has never been more important. --> Business Services Are you running your business at peak performance? --> Tax Services Don't pay more in taxes than you have to! --> QuickBooks Services Put this robust software to work for you. --> Welcome to Abeye Hailu, CPA CPA firm licensed in Los Angeles, CA. We are a full-service CPA firm licensed in CA. We offer a broad range of services for business owners, executives, and independent professionals. We are affordable, experienced, and friendly. Our firm is one of the leading firms in the area. By combining our expertise, experience, and the energy of our staff, each client receives close personal and professional attention. Please call us today and we'll be happy to offer you a free initial consultation. Learn more about us Schedule a Consultation Featured Articles An income tax form is like a laundry list - either way you lose your shirt. Fred Allen The hardest thing in the world to understand is the income tax. Albert Einstein The difference between death and taxes is death doesn't get worse every time Congress meets. Will Rogers --> Subscribe to our Emailed Newsletter Client Center Financial Calculators Send Us A File Track Your Refund IRS Tax Forms State Tax Forms Tax Due Dates Contact Us Abeye Hailu, CPA 800 S Figueroa Street Suite 960 Los Angeles, CA 90017 Phone: (213) 891-9124 Fax: (213) 891-1731 [email protected] Resources Search Site Map Privacy Policy Disclaimer Portal Login Forgot Your Password? © 2026 Abeye Hailu, CPA Los Angeles, CA CPA Firm | Pay My Fee Page | Abeye Hailu, CPA Home Firm Profile Services Individual Tax Services Business Tax Services Payroll Services Small Business Accounting IRS Tax Problems Help New Business Formation Business Consultation Strategic Business Planning Cash Flow Management Internal Controls Client Center Newsletter Guides Client Portal SecureSend Pay My Fee Financial Calculators Blog Contact Us (213) 891-9124 Pay My Fee Pay My Fee We are pleased to offer the availability of paying your fees by credit card. In order to do this, we have joined the PayPal network, one of the leading payment services on the internet today. This service offers you the ability to pay your fee using Visa, MasterCard, Discover, or American Express, through PayPal's secure web-based system.   Simply click on the "Make Payment" button below to make your payment. Abeye Hailu, CPA Powered by If you have any questions during this process, please call, (213) 891-9124 .   Thank-you for your continued support of our Firm. We look forward to serving you in the future. Abeye Hailu, CPA 800 S Figueroa Street Suite 650 Los Angeles, CA, 90017 Phone: (213)891-9124 [email protected] Schedule a Consultation Get In Touch Featured Articles An income tax form is like a laundry list - either way you lose your shirt. Fred Allen The hardest thing in the world to understand is the income tax. Albert Einstein The difference between death and taxes is death doesn't get worse every time Congress meets. Will Rogers --> Subscribe to our Emailed Newsletter Client Center Financial Calculators Send Us A File Track Your Refund IRS Tax Forms State Tax Forms Tax Due Dates Contact Us Abeye Hailu, CPA 800 S Figueroa Street Suite 960 Los Angeles, CA 90017 Phone: (213) 891-9124 Fax: (213) 891-1731 [email protected] Resources Search Site Map Privacy Policy Disclaimer Portal Login Forgot Your Password? © 2026 Abeye Hailu, CPA cpaiam.com RSS Feed https://cpaiam.com/ Take a look at our recent blog posts and client newsletter articles. en-us Fri, 01 May 2026 09:00:00 +0000 Fri, 01 May 2026 09:00:00 +0000 Turn a Real Estate Sale Into a Tax-Smart Strategy https://www.cpaiam.com/newsletter.php#1 Selling investment or commercial real estate can result in a substantial tax bill if the property has appreciated significantly. One strategy to help ease your tax burden is an installment sale. Fri, 01 May 2026 09:00:00 +0000 https://www.cpaiam.com/newsletter.php#1 Plan Carefully to Minimize Taxes on Your Inheritance https://www.cpaiam.com/newsletter.php#3 Getting a large inheritance can create new financial opportunities. But it’s important to handle inherited assets carefully, especially when it comes to taxes and planning. Understanding relevant tax rules can help you avoid surprises and make informed decisions. Fri, 01 May 2026 09:00:00 +0000 https://www.cpaiam.com/newsletter.php#3 Before You Shred: Know Which Tax Records to Keep https://www.cpaiam.com/newsletter.php#2 Tax documents can accumulate quickly. While clearing out old files can feel productive, it’s important not to discard anything until you’ve reviewed some record-retention guidelines. Fri, 01 May 2026 09:00:00 +0000 https://www.cpaiam.com/newsletter.php#2 Abeye Hailu, CPALos Angeles, CA CPA Firm | Blog Page | Abeye Hailu, CPA Call Us: (213) 891-9124 Get a Free Consultation Home Firm Profile Services Individual Tax Services Business Tax Services Payroll Services Small Business Accounting IRS Tax Problems Help New Business Formation Business Consultation Strategic Business Planning Cash Flow Management Internal Controls Client Center Newsletter Guides Client Portal SecureSend Pay My Fee Financial Calculators Blog Contact Us Blog (213) 891-9124 Sorry, no posts matched your criteria. 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Fred Allen The hardest thing in the world to understand is the income tax. Albert Einstein The difference between death and taxes is death doesn't get worse every time Congress meets. Will Rogers --> Subscribe to our Emailed Newsletter Client Center Financial Calculators Send Us A File Track Your Refund IRS Tax Forms State Tax Forms Tax Due Dates Contact Us Abeye Hailu, CPA 800 S Figueroa Street Suite 960 Los Angeles, CA 90017 Phone: (213) 891-9124 Fax: (213) 891-1731 [email protected] Resources Search Site Map Privacy Policy Disclaimer Portal Login Forgot Your Password? © 2026 Abeye Hailu, CPA Los Angeles, CA CPA Firm | Client Center Page | Abeye Hailu, CPA Home Firm Profile Services Individual Tax Services Business Tax Services Payroll Services Small Business Accounting IRS Tax Problems Help New Business Formation Business Consultation Strategic Business Planning Cash Flow Management Internal Controls Client Center Newsletter Guides Client Portal SecureSend Pay My Fee Financial Calculators Blog Contact Us (213) 891-9124 Client Center Client Center Newsletter Our regularly updated newsletter provides timely articles to help you achieve your financial goals.   Blog Read our company blog for interesting posts about our activities and thoughts on the latest financial news. 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Will Rogers --> Subscribe to our Emailed Newsletter Client Center Financial Calculators Send Us A File Track Your Refund IRS Tax Forms State Tax Forms Tax Due Dates Contact Us Abeye Hailu, CPA 800 S Figueroa Street Suite 960 Los Angeles, CA 90017 Phone: (213) 891-9124 Fax: (213) 891-1731 [email protected] Resources Search Site Map Privacy Policy Disclaimer Portal Login Forgot Your Password? © 2026 Abeye Hailu, CPA Los Angeles, CA CPA Firm | Payroll Services Page | Abeye Hailu, CPA Home Firm Profile Services Individual Tax Services Business Tax Services Payroll Services Small Business Accounting IRS Tax Problems Help New Business Formation Business Consultation Strategic Business Planning Cash Flow Management Internal Controls Client Center Newsletter Guides Client Portal SecureSend Pay My Fee Financial Calculators Blog Contact Us (213) 891-9124 Payroll Services Payroll Services Payroll Processing Services In Los Angeles, CA Content Optimization Current Abeye Hailu, CPA offer payroll solutions that meet your business's needs and enable you to spend time doing what you do best-running your company. Recommended Abeye Hailu, CPA offer payroll solutions that meet your business's needs and enable you to spend time doing what you do best-running your company. Eliminate the risks of calculating and filing your own payroll taxes ! When it comes to paying employees, laws and the IRS have made the payroll function a time consuming nightmare for the small business owner. Eliminate the risks of calculating and filing your own payroll taxes by having professionals do it for you. Federal, state and local payroll tax laws are frequently changing and becoming more complex.  How much time do you want to spend  learning all the rules and keeping your information up to date? Small business owners spend an average of eight hours a month performing payroll functions. That's 12 full days a year that could be spent generating sales, prospecting new business opportunities, improving products or services, or servicing customers. We offer payroll solutions that meet your business's needs and enable you to spend time doing what you do best--running your company. Save money , Save time and have a peace of mind. Why Outsource Your Payroll ? It's Cost Effective . It's a Time Saver .Allows You To Focus On Core Competencies and Worry Free Payroll Tax Filing   How much do we charge? We know that when it comes to payroll service - no one size fits all. That's why we offer t custom payroll processing options. In order to give you an accurate price for our payroll services we need to know a little more about your business and what services you're interested in. Our prices are very affordable! Please complete the form below to get a Free Consultation and complete pricing of our Payroll Processing Services. Name Phone Email Best Time To Call Comments Abeye Hailu, CPA 800 S Figueroa Street Suite 650 Los Angeles, CA, 90017 Phone: (213)891-9124 [email protected] Schedule a Consultation Get In Touch Featured Articles An income tax form is like a laundry list - either way you lose your shirt. Fred Allen The hardest thing in the world to understand is the income tax. Albert Einstein The difference between death and taxes is death doesn't get worse every time Congress meets. Will Rogers --> Subscribe to our Emailed Newsletter Client Center Financial Calculators Send Us A File Track Your Refund IRS Tax Forms State Tax Forms Tax Due Dates Contact Us Abeye Hailu, CPA 800 S Figueroa Street Suite 960 Los Angeles, CA 90017 Phone: (213) 891-9124 Fax: (213) 891-1731 [email protected] Resources Search Site Map Privacy Policy Disclaimer Portal Login Forgot Your Password? © 2026 Abeye Hailu, CPA Los Angeles, CA CPA Firm | SecureSend Page | Abeye Hailu, CPA Home Firm Profile Services Individual Tax Services Business Tax Services Payroll Services Small Business Accounting IRS Tax Problems Help New Business Formation Business Consultation Strategic Business Planning Cash Flow Management Internal Controls Client Center Newsletter Guides Client Portal SecureSend Pay My Fee Financial Calculators Blog Contact Us (213) 891-9124 SecureSend SecureSend Securely Send Us a File Use our convenient SecureSend page to securely deliver a file directly to a member of our firm. The selected firm member will be notified once your file upload is complete. Alternatively, you may also login to our Secure Client Portal to send us a file. If you do not currently have a Portal Account, you may register for one here. Abeye Hailu, CPA 800 S Figueroa Street Suite 650 Los Angeles, CA, 90017 Phone: (213)891-9124 [email protected] Schedule a Consultation Get In Touch Featured Articles An income tax form is like a laundry list - either way you lose your shirt. Fred Allen The hardest thing in the world to understand is the income tax. Albert Einstein The difference between death and taxes is death doesn't get worse every time Congress meets. Will Rogers --> Subscribe to our Emailed Newsletter Client Center Financial Calculators Send Us A File Track Your Refund IRS Tax Forms State Tax Forms Tax Due Dates Contact Us Abeye Hailu, CPA 800 S Figueroa Street Suite 960 Los Angeles, CA 90017 Phone: (213) 891-9124 Fax: (213) 891-1731 [email protected] Resources Search Site Map Privacy Policy Disclaimer Portal Login Forgot Your Password? © 2026 Abeye Hailu, CPA Los Angeles, CA CPA Firm | Strategic Business Planning Page | Abeye Hailu, CPA Home Firm Profile Services Individual Tax Services Business Tax Services Payroll Services Small Business Accounting IRS Tax Problems Help New Business Formation Business Consultation Strategic Business Planning Cash Flow Management Internal Controls Client Center Newsletter Guides Client Portal SecureSend Pay My Fee Financial Calculators Blog Contact Us (213) 891-9124 Strategic Business Planning Strategic Business Planning A Strategic Business Plan is much more than a tool to obtain financing. If you still have all you plans and ideas locked up inside your head... preparing a strategic plan helps you clarify your company's direction, ensures your key leaders are all "on the same page", and keeps both management and staff focused on the tasks at hand. A Strategic Plan is often needed when... Starting a new venture, product or service Expanding a current organization, product or service Buying a new business, product or service Turning around a declining business The Strategic Plan provides a blueprint, describing your company, its products, the competitive environment, management team, financial health, and business risks. The plan allows you to... Identify and describe the target customer profile, features, advantages and benefits of your new venture, product or service. Justify that your plans are credible by fully researching the need being filled with your new venture. Develop marketing plans including full descriptions of targeted promotional campaigns with implementation timelines. You also get to examine market conditions, the nature of your customers, as well as your competitors, sales potential, and projected results of your promotional campaigns. Develop staffing plans including identifying the key players, skills, attitudes and expertise needed to build the venture. Develop management plans including full descriptions of management systems and timelines for implementation. Develop financial plans including projected startup costs, operating costs, revenue, profits, and break-even analysis for the first 3 to 5 years. Projected financial plans allow you to effectively predict upcoming problems, or prevent them. In other words, the perspective gained through your Strategic Business Plan can make a significant contribution to your company's success, and help you get the funding you require. In fact, most lending institutions and private investors will not even talk to you without a solid financial plan. Identify building and equipment needs including vendors and cost estimates. Formulate company milestones including timelines for upcoming products and services in development. Remember: Failing to plan is planning to fail. Let us help you develop a powerful Strategic Business Plan that drives your business to the level of success you deserve. Request a Free Consultation below. Name Phone Email Best Time To Call Comments Abeye Hailu, CPA 800 S Figueroa Street Suite 650 Los Angeles, CA, 90017 Phone: (213)891-9124 [email protected] Schedule a Consultation Get In Touch Featured Articles An income tax form is like a laundry list - either way you lose your shirt. Fred Allen The hardest thing in the world to understand is the income tax. Albert Einstein The difference between death and taxes is death doesn't get worse every time Congress meets. Will Rogers --> Subscribe to our Emailed Newsletter Client Center Financial Calculators Send Us A File Track Your Refund IRS Tax Forms State Tax Forms Tax Due Dates Contact Us Abeye Hailu, CPA 800 S Figueroa Street Suite 960 Los Angeles, CA 90017 Phone: (213) 891-9124 Fax: (213) 891-1731 [email protected] Resources Search Site Map Privacy Policy Disclaimer Portal Login Forgot Your Password? © 2026 Abeye Hailu, CPA Los Angeles, CA CPA Firm | New Business Formation Page | Abeye Hailu, CPA Home Firm Profile Services Individual Tax Services Business Tax Services Payroll Services Small Business Accounting IRS Tax Problems Help New Business Formation Business Consultation Strategic Business Planning Cash Flow Management Internal Controls Client Center Newsletter Guides Client Portal SecureSend Pay My Fee Financial Calculators Blog Contact Us (213) 891-9124 New Business Formation New Business Formation Thinking of owning your own business? Opening your own business is exciting and thrilling. It's everything that comes after the excitement and thrill has worn off that dictates whether a small business will make it or not. It's up to you to maintain and stretch out the "thrill and excitement" period forever. A methodical plan of action is needed to fulfill your dream or goal of being your own boss and running a successful business. Success lies in the approach you choose to take. We help you avoid the common pitfalls that many new small business owners make when starting their new venture. We help you... Prepare an initial business plan to clarify your marketing, management, and financial plans. Determine your start-up capital needs. Identify sources of start-up capital and backup sources if needed. Evaluate and quantify your borrowing power so you know how much money you can get your hands on if needed. Select a business structure that best fits your needs by evaluating tax advantages, legal exposure, ease of operation and portability should you need to relocate. Select the right accounting software by evaluating your budget, needs and hardware. Prepare a Cash Flow Budget so you know exactly how much money you need to keep the business alive each month for the first few years. Unplanned cash requirements are always emotionally painful. Establish billing and collection procedures to maximize your cash flow. Establish procedures to monitor and control costs. Setup a home office so you can maximize your tax deductions. Prepare and file all required state and local licenses and permits. Prepare and file your application for your Federal Employer Identification Number. Provide payroll and payroll tax filing when you bring on your first employee. Comply with employment laws so you don't get hit with fines and unhappy employees. Identify your business insurance needs. Develop a solid Partnership Agreement. This is an extremely important document for all new partnerships and will help prevent a tremendous amount of financial and emotional problems down the road. Let us help you succeed by getting your new business off to a good strong start. Let us help you succeed by getting your new business off to a good strong start. Please complete the form below to learn more about our New Business Formation Services. Name Phone Email Best Time To Call Comments Abeye Hailu, CPA 800 S Figueroa Street Suite 650 Los Angeles, CA, 90017 Phone: (213)891-9124 [email protected] Schedule a Consultation Get In Touch Featured Articles An income tax form is like a laundry list - either way you lose your shirt. Fred Allen The hardest thing in the world to understand is the income tax. Albert Einstein The difference between death and taxes is death doesn't get worse every time Congress meets. Will Rogers --> Subscribe to our Emailed Newsletter Client Center Financial Calculators Send Us A File Track Your Refund IRS Tax Forms State Tax Forms Tax Due Dates Contact Us Abeye Hailu, CPA 800 S Figueroa Street Suite 960 Los Angeles, CA 90017 Phone: (213) 891-9124 Fax: (213) 891-1731 [email protected] Resources Search Site Map Privacy Policy Disclaimer Portal Login Forgot Your Password? © 2026 Abeye Hailu, CPA Los Angeles, CA CPA Firm | Track Your Refund Page | Abeye Hailu, CPA Home Firm Profile Services Individual Tax Services Business Tax Services Payroll Services Small Business Accounting IRS Tax Problems Help New Business Formation Business Consultation Strategic Business Planning Cash Flow Management Internal Controls Client Center Newsletter Guides Client Portal SecureSend Pay My Fee Financial Calculators Blog Contact Us (213) 891-9124 Track Your Refund Track Your Refund When will you receive your refund? The answer depends on how you filed your return. The IRS should issue your refund check within six to eight weeks of filing a paper return. If you chose to receive your refund through direct deposit, you should receive it within a week. If you use e-file, your refund should be issued between two and three weeks. You can check on the status of your refund by clicking on the links below. Abeye Hailu, CPA 800 S Figueroa Street Suite 650 Los Angeles, CA, 90017 Phone: (213)891-9124 [email protected] Schedule a Consultation Get In Touch Featured Articles An income tax form is like a laundry list - either way you lose your shirt. Fred Allen The hardest thing in the world to understand is the income tax. Albert Einstein The difference between death and taxes is death doesn't get worse every time Congress meets. Will Rogers --> Subscribe to our Emailed Newsletter Client Center Financial Calculators Send Us A File Track Your Refund IRS Tax Forms State Tax Forms Tax Due Dates Contact Us Abeye Hailu, CPA 800 S Figueroa Street Suite 960 Los Angeles, CA 90017 Phone: (213) 891-9124 Fax: (213) 891-1731 [email protected] Resources Search Site Map Privacy Policy Disclaimer Portal Login Forgot Your Password? © 2026 Abeye Hailu, CPA Los Angeles, CA CPA Firm | Cash Flow Management Page | Abeye Hailu, CPA Home Firm Profile Services Individual Tax Services Business Tax Services Payroll Services Small Business Accounting IRS Tax Problems Help New Business Formation Business Consultation Strategic Business Planning Cash Flow Management Internal Controls Client Center Newsletter Guides Client Portal SecureSend Pay My Fee Financial Calculators Blog Contact Us (213) 891-9124 Cash Flow Management Cash Flow Management A wise business owner once said, "Happiness is a positive cash flow." As a business owner, I'm sure you agree. Everything is better when your cash-in exceeds your cash-out. A cash crisis can be emotionally devastating and it can even kill your business. If you've ever had to beg, borrow and steal to cover tomorrows payroll you know what I mean. Our cash management service allows you to... know when, where, and how your cash needs will occur. know what the best sources are for meeting your additional cash needs. be prepared to meet these needs when they occur, by keeping good relationships with bankers and other creditors. The starting point for avoiding a cash crisis is allowing us to develop a cash flow projection for you. We can help you develop both short-term (weekly, monthly) cash flow projections to help you manage daily cash, and long-term (annual, 3-5 year) cash flow projections to help you develop the necessary capital strategy to meet your business needs. We also prepare historical cash flow statements to help you gain an understanding about where all the money went. Creating an accurate cash flow projection is just one of the many cash management services we provide. You also get... Help obtaining an appropriate line of credit Cash collection acceleration techniques Proven effective collection policies Proven effective payment policies Help obtaining the maximum rate of return on your idle cash To learn more about how we can help you avoid stressful cash shortages please complete this form to get a Free Consultation. Name Phone Email Best Time To Call Comments Abeye Hailu, CPA 800 S Figueroa Street Suite 650 Los Angeles, CA, 90017 Phone: (213)891-9124 [email protected] Schedule a Consultation Get In Touch Featured Articles An income tax form is like a laundry list - either way you lose your shirt. Fred Allen The hardest thing in the world to understand is the income tax. Albert Einstein The difference between death and taxes is death doesn't get worse every time Congress meets. Will Rogers --> Subscribe to our Emailed Newsletter Client Center Financial Calculators Send Us A File Track Your Refund IRS Tax Forms State Tax Forms Tax Due Dates Contact Us Abeye Hailu, CPA 800 S Figueroa Street Suite 960 Los Angeles, CA 90017 Phone: (213) 891-9124 Fax: (213) 891-1731 [email protected] Resources Search Site Map Privacy Policy Disclaimer Portal Login Forgot Your Password? © 2026 Abeye Hailu, CPA Los Angeles, CA CPA Firm | Search Page | Abeye Hailu, CPA Home Firm Profile Services Individual Tax Services Business Tax Services Payroll Services Small Business Accounting IRS Tax Problems Help New Business Formation Business Consultation Strategic Business Planning Cash Flow Management Internal Controls Client Center Newsletter Guides Client Portal SecureSend Pay My Fee Financial Calculators Blog Contact Us (213) 891-9124 Search Search Search Term: Find: any terms all terms as a phrase Case: insensitive sensitive Display: 10 25 50 100 Abeye Hailu, CPA 800 S Figueroa Street Suite 650 Los Angeles, CA, 90017 Phone: (213)891-9124 [email protected] Schedule a Consultation Get In Touch Featured Articles An income tax form is like a laundry list - either way you lose your shirt. Fred Allen The hardest thing in the world to understand is the income tax. Albert Einstein The difference between death and taxes is death doesn't get worse every time Congress meets. Will Rogers --> Subscribe to our Emailed Newsletter Client Center Financial Calculators Send Us A File Track Your Refund IRS Tax Forms State Tax Forms Tax Due Dates Contact Us Abeye Hailu, CPA 800 S Figueroa Street Suite 960 Los Angeles, CA 90017 Phone: (213) 891-9124 Fax: (213) 891-1731 [email protected] Resources Search Site Map Privacy Policy Disclaimer Portal Login Forgot Your Password? © 2026 Abeye Hailu, CPA Los Angeles, CA CPA Firm | Newsletter Page | Abeye Hailu, CPA Home Firm Profile Services Individual Tax Services Business Tax Services Payroll Services Small Business Accounting IRS Tax Problems Help New Business Formation Business Consultation Strategic Business Planning Cash Flow Management Internal Controls Client Center Newsletter Guides Client Portal SecureSend Pay My Fee Financial Calculators Blog Contact Us (213) 891-9124 Newsletter Newsletter Our regularly updated newsletter provides timely articles to help you achieve your financial goals. Please come back and visit often. May 2026 Feature Articles Turn a Real Estate Sale Into a Tax-Smart Strategy Before You Shred: Know Which Tax Records to Keep Plan Carefully to Minimize Taxes on Your Inheritance Tax Tips How Hiring Your Child This Summer Can Reduce Taxes Review Your Withholding After Filing More Entities Gain Access to IRS Business Tax Account QuickBooks Tips Modernize Your Payables with QuickBooks Online   Email Updates Enter your email below to subscribe to our monthly newsletter. Email RSS Feed Print This Page Tax Due Dates Any accounting, business or tax advice contained in this communication, including attachments and enclosures, is not intended as a thorough, in-depth analysis of specific issues, nor a substitute for a formal opinion, nor is it sufficient to avoid tax-related penalties. If desired, we would be pleased to perform the requisite research and provide you with a detailed written analysis. Such an engagement may be the subject of a separate engagement letter that would define the scope and limits of the desired consultation services. Turn a Real Estate Sale Into a Tax-Smart Strategy Selling investment or commercial real estate can result in a substantial tax bill if the property has appreciated significantly. One strategy to help ease your tax burden is an installment sale. What’s an Installment Sale? In an installment sale, the seller gets at least one payment after the tax year in which the sale occurs. So, if you sell investment or commercial real estate, instead of receiving the full purchase price all at once, you get payments over time. This allows you to defer recognition of gain and spread the tax liability over several years. Installment sales can also help attract more buyers because they won’t have to pay the entire price upfront and obtaining financing might be easier. 2 types of installment sales There are a couple of ways to set up an installment sale: 1. Traditional. This generally involves the buyer making payments directly to the seller under the terms of a promissory note. 2. Structured. Here, a third-party assignment company or financial institution assists with the transaction and oversees the payment schedule. The third party typically assumes responsibility for future payments to the seller, which may reduce the seller’s risk. Tax Considerations Gains from real estate held for more than one year are typically taxed at favorable long-term capital gains rates — 15% for most taxpayers and 20% for higher-income taxpayers. For 2026, the 20% rate applies when taxable income exceeds $545,500 (singles), $579,600 (heads of household), $613,700 (married couples filing jointly) or $306,850 (married couples filing separately). With the gain spread over multiple years, an installment sale may help keep you below the 20% rate threshold. Depending on your income level, it might also help prevent you from triggering the 3.8% net investment income tax (NIIT), or at least reduce your NIIT liability. The NIIT applies to net investment income to the extent that modified adjusted gross income exceeds $200,000 (singles and heads of household), $250,000 (joint filers) or $125,000 (separate filers). However, several tax rules can complicate installment sales. For example, depreciation recapture must be reported as ordinary income in the year of sale, even if payments are received later. Only the remaining gain can be spread out under the installment method. The good news is that if your marginal ordinary rate is 32%, 35% or 37%, depreciation recapture is taxed at only 25%. Additionally, installment agreements exceeding $5 million may trigger an IRS interest charge on the deferred tax. Special rules apply to related-party sales and may accelerate the remaining tax if the property is resold within two years. Electing Out Installment reporting is generally automatic if you sell property and receive at least one payment after the tax year of the sale. However, you can choose to elect out of it and report the entire gain in the year of sale. This might make sense if you expect higher tax rates in future years, have current-year losses or deductions that could offset the gain, or want to accelerate income for financial planning purposes. When you file your tax return for the year of the sale, you can decide whether to elect out. Moving Forward Installment sales can be complex. If you’re thinking about selling investment or commercial real estate, contact the office to determine whether an installment sale makes sense for your situation. Before You Shred: Know Which Tax Records to Keep Tax documents can accumulate quickly. While clearing out old files can feel productive, it’s important not to discard anything until you’ve reviewed some record-retention guidelines. Why Good Recordkeeping Is Important Well-organized records make it easier to prepare accurate tax returns and respond if the IRS requests additional information or examines your return. Documents such as receipts and bank statements should support the income, deductions and credits you report. Good recordkeeping also helps you monitor financial activity throughout the year. And it can simplify preparing future tax returns or amended returns. The General Rule Records that support a tax return should generally be kept until the statute of limitations expires for that return. In general, the IRS has three years to assess additional tax after a return is filed. Returns filed before the due date are considered filed on the due date. This three-year window is why you should keep supporting documentation — such as W-2 and 1099 forms, receipts and charitable contribution records — for at least that long. Situations That Extend the Timeframe Certain circumstances allow the IRS additional time to review a return. For example, the statute of limitations increases to six years if more than 25% of gross income is omitted from a return. If a taxpayer fails to file a return or files a fraudulent return, there’s no time limit on when the IRS can assess tax. Additionally, the timeframe for claiming a refund generally extends to three years after filing the return or two years after paying the tax, whichever is later. (This generally would require filing an amended return.) Don’t Discard These Records Too Soon Some documents should be retained beyond the typical three-year period because they may affect multiple tax years or support future transactions. These include: Property and investment records. You should keep records related to property (such as real estate) or investments (such as stocks or bonds) for as long as you own the asset, plus at least three years after it’s sold. These records are needed to calculate the basis, gain or loss when the asset is sold. Retirement plan records. Retain retirement and pension documents for as long as the accounts have funds and for at least three years after the accounts are closed or funds are withdrawn. Keep records of nondeductible IRA contributions indefinitely to prove taxes were already paid on those amounts. Bad debt or worthless securities deductions. Records supporting these claims should generally be kept for seven years from the date the return was due. Filed tax returns. Proof of filing should be kept for at least as long as the statute of limitations applies to that Los Angeles, CA CPA Firm | Firm Profile Page | Abeye Hailu, CPA Home Firm Profile Services Individual Tax Services Business Tax Services Payroll Services Small Business Accounting IRS Tax Problems Help New Business Formation Business Consultation Strategic Business Planning Cash Flow Management Internal Controls Client Center Newsletter Guides Client Portal SecureSend Pay My Fee Financial Calculators Blog Contact Us (213) 891-9124 Firm Profile Firm Profile Dedicated to listening and responding to your needs    For proven reliable small business tax and  accounting  services in los angeles , CA   more Individuals, business owners and non-profit organizations are choosing Abeye Hailu, CPA over any other certified public accountant. We work  laterally with our clients every step of the way to ensure their accounting and tax  needs are being met while upholding our own high standards of professional excellence. When you need a professional team of experts who are dedicated to listening and responding to your needs, trust in Abeye Hailu, CPA and let us show you what we can do for your business today. Commited to saving you time, taxes and overhead      Headquartered in Los Angeles, California and serving the local and regional business and non-profit community, Abeye Hailu, CPA was founded under the principle of offering our clients real-world solutions to all of their tax, accounting and business consultation needs. We are not your typical profit driven small business bookkeping service; instead, we put our clients’ needs first and offer them the support and consultation they needed to make better financial decisions with regards to their business or organizational financial platforms. Solutions that suit the needs of your business      Our team of experienced professionals strive to provide a higher level of service and support that our clients can’t get anywhere else. We have the ability to customize our consultancy services to offer as much support as needed to ensure the continued success of their businesses and to give our clients a better return on their investment. Abeye Hailu, CPA offers the best value combined with the support of our creative minds to create a solution that best suits your needs and the needs of your business. Over 34 years of  experience serving  small businesses    If effective tax and accounting services are important to your company, trust the experts at Abeye Hailu, CPA; we are standing by to serve your needs today. We have been helping Los Angeles area  businesses and non-profits since 1988, let us help yours today! Want to learn how you can benefit ?       To learn more about Abeye Hailu, CPA and our guaranteed effective tax and accounting services  services, or if you want to know how you can save taxes and overhead contact us today and let one of our knowledgeable representatives assist you and answer any questions you might have. Abeye Hailu, CPA 800 S Figueroa Street Suite 650 Los Angeles, CA, 90017 Phone: (213)891-9124 [email protected] Schedule a Consultation Get In Touch Featured Articles An income tax form is like a laundry list - either way you lose your shirt. Fred Allen The hardest thing in the world to understand is the income tax. Albert Einstein The difference between death and taxes is death doesn't get worse every time Congress meets. Will Rogers --> Subscribe to our Emailed Newsletter Client Center Financial Calculators Send Us A File Track Your Refund IRS Tax Forms State Tax Forms Tax Due Dates Contact Us Abeye Hailu, CPA 800 S Figueroa Street Suite 960 Los Angeles, CA 90017 Phone: (213) 891-9124 Fax: (213) 891-1731 [email protected] Resources Search Site Map Privacy Policy Disclaimer Portal Login Forgot Your Password? © 2026 Abeye Hailu, CPA Los Angeles, CA CPA Firm | Business Tax Services Page | Abeye Hailu, CPA Home Firm Profile Services Individual Tax Services Business Tax Services Payroll Services Small Business Accounting IRS Tax Problems Help New Business Formation Business Consultation Strategic Business Planning Cash Flow Management Internal Controls Client Center Newsletter Guides Client Portal SecureSend Pay My Fee Financial Calculators Blog Contact Us (213) 891-9124 Business Tax Services Business Tax Services Business Tax Services In Los Angeles, CA As a business tax accountant – I hear this all the time: “I just want to grow my business… But these tax demands keep stealing my time.” You’ve probably had your share of 16-hour days. Frantically ordering supplies you forgot to inventory last week. Applying for a new loan now that your credit score has gone up. Staring at a computer screen at 11pm trying to decipher the maze of government and IRS tax regulations. All you wanted was to run your own business. Or maybe you’re thinking about starting one, and you’re already overwhelmed just trying to write a business plan. Fire codes? Supply chain? Risk assessments? And how do I collect sales taxes? There are a lot of questions, and it seems like every answer leads to three more questions. While there’s no silver bullet that will make this process easy, you can save yourself a lot of aggravation by adding the right people to your team – people who can help you with bookkeeping services and tax issues. Your small business needs professional accounting systems to track all of these: Payroll tax withholding Sales tax reporting The different business taxes for local, state, and federal IRS codes Tax issues are just one part of running a small business, but it’s easy to get overwhelmed trying to stay on top of it all. My name is Abeye Hailu, CPA, and our team of Los Angeles accountants specializes in small business accounting and bookkeeping. If you run a sole proprietorship or a single shareholder corporation, you need an accountant who understands how easy it is to get swamped by all the record-keeping and tax compliance. You’re an honest person, but you don’t want to miss anything when it comes to taxes, or the IRS will show no mercy. Bring your tax and finance questions to our team of CPA accountants and tax advisors , and we’ll help lead you out of the tax jungle to firm financial ground. We’ll create a bookkeeping system that is simple and fast so you can focus your energy on running your business. We’ll show you ways to boost your cash reserves and stay on top of your loans. We’ll dig you out of the hole if your books are a mess and the IRS is hounding you. “  “Any questions I have you are always able to answer them”  You have been helping us for more than 17 years. You do a great job and you have great staff. Paperwork Pickup saves us time and the personal attention is great. Any questions I have you are always able to answer them. Gustavo Guerrero,  President Campos Pine Furniture, Inc. Los Angeles   CA If your business is a sole proprietorship, you are responsible for every liability your business may face – including taxes and bookkeeping errors. There are enough other things to worry about, like hiring new employees and keeping your supplies up to date, not to mention marketing. We’ve been helping small businesses stay out of tax trouble and in compliance with the law for more than 25 years. If you’d like a free in-person consultation about how we can simplify your bookkeeping and accounting, call today at (213) 891-9124. Save On Taxes Depending on the size of your company, preventing tax errors might allow you to hire that extra help you need to grow your business. Tax mistakes, either from refunds and credits you overlooked or fines you had to pay, can result in thousands of dollars in IRS taxes that you could have invested in new technology or a new employee. We want your business to grow and prosper call us  to learn a few of the ways you can keep more of your revenue.   "Very honest company            ' I have never had a problem. We have been with you the last 14 years.  You saved us over $12,600 in taxes in one year" Paulo Tirado, Tirado’s Furniture & Upholstery                                                            Avoid Common Small Business Mistakes With all there is to do, you’re going to get a few things wrong. And usually you can fix the problem easily enough. But accounting mistakes – they will spread like a virus across your bookkeeping records. We’ll help prevent the spread right from the start, and will coach you through all the difficult tax-related business decisions you’ll have to make. We know what questions to ask now, so you don’t have to explain yourself to the IRS later. For example, when it comes to employees, the worst thing that can happen is for them to not get paid. Our Small Business Accounting Service will provide you the following: An efficient and professional payroll system with data-tracking and reports. How to add new employees to your system easily and quickly, and make sure all the tax withholding happens as it should. Income and expense reports – know what’s happening to your bottom line. How to use QuickBooks so it actually works for you and ensures accurate financial records. Lots of people try to use this program, but don’t know what information is required to make it work. Tax planning Is the Foundation of Successful Business There are a ton of tax laws. And more get added every year. We keep up with all the changes to the tax codes so your business won’t have to worry about auditing and will avoid panicked surprises. And if you do get audited, we’ll be there to walk you through it and handle all the hard questions. Tax planning  is the number one factor that determines if a small business will succeed or fail. All your marketing and customer service won’t matter if you do not plan or  violate the tax codes. By tracking your cash flow, expenses, assets and liabilities – we maintain your books with up-to-date accuracy. Small business owners typically spend at least 8 hours a month struggling with their tax receipts and bookkeeping. As a trusted CPA accountant, we’ll save you all that time, and more. " Very satisfied after 13 years of working with you " When you came to talk to us we felt confident with what you have to offer. Always able to help me whenever I need you. It helps to have employees that speak Spanish. Very satisfied after 13 years of working with you. Julio Cesar Negrete                    Dynasty Custom Sofa   Los Angeles CA Be Prepared For Increased Profits Many small businesses aren’t ready for the increased revenues they say they want, and when business starts booming, their small-time systems start to fall apart. Result? Empty shelves! We’ll set up your accounting system so it’s ready to adapt to higher revenues, more employees, and expanded markets. We’ll supply you with data you can use, such as the number of transactions per customer and the average transaction value. These sorts of things will help you adjust your pricing, plan sales and promotions, and ensure a healthy profit margin. Small Business CPA – The Support You Need Actionable and specific data, compliant and up-to-date books, tax savings and error-free tax records, and an ally to help your business avoid pitfalls and get launched into the market – that’s what every small business Los Angeles, CA CPA Firm | Financial Calculators Page | Abeye Hailu, CPA Home Firm Profile Services Individual Tax Services Business Tax Services Payroll Services Small Business Accounting IRS Tax Problems Help New Business Formation Business Consultation Strategic Business Planning Cash Flow Management Internal Controls Client Center Newsletter Guides Client Portal SecureSend Pay My Fee Financial Calculators Blog Contact Us (213) 891-9124 Financial Calculators Financial Calculators Please try our wide variety of interactive financial problem solvers. Simply enter your criteria and you'll get your questions answered with dynamic graphs and personalized reports. Cash Flow College Credit Home and Mortgage Insurance Investment Paycheck and Benefits Qualified Plans Retirement Saving Taxation Auto Business Abeye Hailu, CPA 800 S Figueroa Street Suite 650 Los Angeles, CA, 90017 Phone: (213)891-9124 [email protected] Schedule a Consultation Get In Touch Featured Articles An income tax form is like a laundry list - either way you lose your shirt. Fred Allen The hardest thing in the world to understand is the income tax. Albert Einstein The difference between death and taxes is death doesn't get worse every time Congress meets. Will Rogers --> Subscribe to our Emailed Newsletter Client Center Financial Calculators Send Us A File Track Your Refund IRS Tax Forms State Tax Forms Tax Due Dates Contact Us Abeye Hailu, CPA 800 S Figueroa Street Suite 960 Los Angeles, CA 90017 Phone: (213) 891-9124 Fax: (213) 891-1731 [email protected] Resources Search Site Map Privacy Policy Disclaimer Portal Login Forgot Your Password? © 2026 Abeye Hailu, CPA Los Angeles, CA CPA Firm | Small Business Accounting Page | Abeye Hailu, CPA Home Firm Profile Services Individual Tax Services Business Tax Services Payroll Services Small Business Accounting IRS Tax Problems Help New Business Formation Business Consultation Strategic Business Planning Cash Flow Management Internal Controls Client Center Newsletter Guides Client Portal SecureSend Pay My Fee Financial Calculators Blog Contact Us (213) 891-9124 Small Business Accounting Small Business Accounting We take care of your books for you, so you can get back to the job of running your business and generating profits. Business Accounting Services  General ledger and recordkeeping  Financial statements (profit and loss, balance sheets)  Bookkeeping (Monthly, quarterly, or annual)  Set up and support for accounting systems  Payroll processing These tasks form the solid foundation of your small business accounting system. You can customize the package of services you receive by adding payroll, tax planning, tax preparation, or any of our other services. Income Statement An income statement, otherwise known as a profit and loss statement, basically adds an itemized list of all your revenues and subtracts an itemized list of all your expenses to come up with a profit or loss for the period. An income statement allows you to... Track revenues and expenses so that you can determine the operating performance of your business. Determine what areas of your business are over-budget or under-budget. Identify specific items that are causing unexpected expenditures. Like phone, fax, mail, or supply expenses. Track dramatic increases in product returns or cost of goods sold as a percentage of sales. Determine your income tax liability. Balance Sheet A balance sheet gives you a snapshot of your business' financial condition at a specific moment in time. A balance sheet helps you: quickly get a handle on the financial strength and capabilities of your business identify and analyze trends, particularly in the area of receivables and payables. For example, if your receivables cycle is lengthening, maybe you can collect your receivables more aggressively determine if your business is in a position to expand determine if your business can easily handle the normal financial ebbs and flows of revenues and expenses determine if you need to take immediate steps to bolster cash reserves determine if your business has been slowing down payables to forestall an inevitable cash shortage Balance sheets, along with income statements, are the most basic elements in providing financial reporting to potential lenders such as banks, investors, and vendors who are considering how much credit to grant you. Maintaining a Clean General Ledger The general ledger is the core of your company's financial records. These records constitute the central "books" of your system. Since every transaction flows through the general ledger, a problem with your general ledger throws off all your books. Having us review your general ledger system each month allows us to hunt down any discrepancies such as double billings or any unrecorded payments. Then we'll fix the discrepancies so your books are always accurate and kept in tip top shape. We are always available to spend time with you so you fully understand how to interpret and utilize the financial information we provide. Please feel free to call us whenever you have a question or concern. If you'd like to receive a free consultation on our Small Business Accounting Service, please complete this form. Name Phone Email Best Time To Call Comments Abeye Hailu, CPA 800 S Figueroa Street Suite 650 Los Angeles, CA, 90017 Phone: (213)891-9124 [email protected] Schedule a Consultation Get In Touch Featured Articles An income tax form is like a laundry list - either way you lose your shirt. Fred Allen The hardest thing in the world to understand is the income tax. Albert Einstein The difference between death and taxes is death doesn't get worse every time Congress meets. Will Rogers --> Subscribe to our Emailed Newsletter Client Center Financial Calculators Send Us A File Track Your Refund IRS Tax Forms State Tax Forms Tax Due Dates Contact Us Abeye Hailu, CPA 800 S Figueroa Street Suite 960 Los Angeles, CA 90017 Phone: (213) 891-9124 Fax: (213) 891-1731 [email protected] Resources Search Site Map Privacy Policy Disclaimer Portal Login Forgot Your Password? © 2026 Abeye Hailu, CPA Los Angeles, CA CPA Firm | Newsletter Page | Abeye Hailu, CPA Home Firm Profile Services Individual Tax Services Business Tax Services Payroll Services Small Business Accounting IRS Tax Problems Help New Business Formation Business Consultation Strategic Business Planning Cash Flow Management Internal Controls Client Center Newsletter Guides Client Portal SecureSend Pay My Fee Financial Calculators Blog Contact Us (213) 891-9124 Newsletter Newsletter Our regularly updated newsletter provides timely articles to help you achieve your financial goals. Please come back and visit often. May 2026 Feature Articles Turn a Real Estate Sale Into a Tax-Smart Strategy Before You Shred: Know Which Tax Records to Keep Plan Carefully to Minimize Taxes on Your Inheritance Tax Tips How Hiring Your Child This Summer Can Reduce Taxes Review Your Withholding After Filing More Entities Gain Access to IRS Business Tax Account QuickBooks Tips Modernize Your Payables with QuickBooks Online   Email Updates Enter your email below to subscribe to our monthly newsletter. Email RSS Feed Print This Page Tax Due Dates Any accounting, business or tax advice contained in this communication, including attachments and enclosures, is not intended as a thorough, in-depth analysis of specific issues, nor a substitute for a formal opinion, nor is it sufficient to avoid tax-related penalties. If desired, we would be pleased to perform the requisite research and provide you with a detailed written analysis. Such an engagement may be the subject of a separate engagement letter that would define the scope and limits of the desired consultation services. Turn a Real Estate Sale Into a Tax-Smart Strategy Selling investment or commercial real estate can result in a substantial tax bill if the property has appreciated significantly. One strategy to help ease your tax burden is an installment sale. What’s an Installment Sale? In an installment sale, the seller gets at least one payment after the tax year in which the sale occurs. So, if you sell investment or commercial real estate, instead of receiving the full purchase price all at once, you get payments over time. This allows you to defer recognition of gain and spread the tax liability over several years. Installment sales can also help attract more buyers because they won’t have to pay the entire price upfront and obtaining financing might be easier. 2 types of installment sales There are a couple of ways to set up an installment sale: 1. Traditional. This generally involves the buyer making payments directly to the seller under the terms of a promissory note. 2. Structured. Here, a third-party assignment company or financial institution assists with the transaction and oversees the payment schedule. The third party typically assumes responsibility for future payments to the seller, which may reduce the seller’s risk. Tax Considerations Gains from real estate held for more than one year are typically taxed at favorable long-term capital gains rates — 15% for most taxpayers and 20% for higher-income taxpayers. For 2026, the 20% rate applies when taxable income exceeds $545,500 (singles), $579,600 (heads of household), $613,700 (married couples filing jointly) or $306,850 (married couples filing separately). With the gain spread over multiple years, an installment sale may help keep you below the 20% rate threshold. Depending on your income level, it might also help prevent you from triggering the 3.8% net investment income tax (NIIT), or at least reduce your NIIT liability. The NIIT applies to net investment income to the extent that modified adjusted gross income exceeds $200,000 (singles and heads of household), $250,000 (joint filers) or $125,000 (separate filers). However, several tax rules can complicate installment sales. For example, depreciation recapture must be reported as ordinary income in the year of sale, even if payments are received later. Only the remaining gain can be spread out under the installment method. The good news is that if your marginal ordinary rate is 32%, 35% or 37%, depreciation recapture is taxed at only 25%. Additionally, installment agreements exceeding $5 million may trigger an IRS interest charge on the deferred tax. Special rules apply to related-party sales and may accelerate the remaining tax if the property is resold within two years. Electing Out Installment reporting is generally automatic if you sell property and receive at least one payment after the tax year of the sale. However, you can choose to elect out of it and report the entire gain in the year of sale. This might make sense if you expect higher tax rates in future years, have current-year losses or deductions that could offset the gain, or want to accelerate income for financial planning purposes. When you file your tax return for the year of the sale, you can decide whether to elect out. Moving Forward Installment sales can be complex. If you’re thinking about selling investment or commercial real estate, contact the office to determine whether an installment sale makes sense for your situation. Before You Shred: Know Which Tax Records to Keep Tax documents can accumulate quickly. While clearing out old files can feel productive, it’s important not to discard anything until you’ve reviewed some record-retention guidelines. Why Good Recordkeeping Is Important Well-organized records make it easier to prepare accurate tax returns and respond if the IRS requests additional information or examines your return. Documents such as receipts and bank statements should support the income, deductions and credits you report. Good recordkeeping also helps you monitor financial activity throughout the year. And it can simplify preparing future tax returns or amended returns. The General Rule Records that support a tax return should generally be kept until the statute of limitations expires for that return. In general, the IRS has three years to assess additional tax after a return is filed. Returns filed before the due date are considered filed on the due date. This three-year window is why you should keep supporting documentation — such as W-2 and 1099 forms, receipts and charitable contribution records — for at least that long. Situations That Extend the Timeframe Certain circumstances allow the IRS additional time to review a return. For example, the statute of limitations increases to six years if more than 25% of gross income is omitted from a return. If a taxpayer fails to file a return or files a fraudulent return, there’s no time limit on when the IRS can assess tax. Additionally, the timeframe for claiming a refund generally extends to three years after filing the return or two years after paying the tax, whichever is later. (This generally would require filing an amended return.) Don’t Discard These Records Too Soon Some documents should be retained beyond the typical three-year period because they may affect multiple tax years or support future transactions. These include: Property and investment records. You should keep records related to property (such as real estate) or investments (such as stocks or bonds) for as long as you own the asset, plus at least three years after it’s sold. These records are needed to calculate the basis, gain or loss when the asset is sold. Retirement plan records. Retain retirement and pension documents for as long as the accounts have funds and for at least three years after the accounts are closed or funds are withdrawn. Keep records of nondeductible IRA contributions indefinitely to prove taxes were already paid on those amounts. Bad debt or worthless securities deductions. Records supporting these claims should generally be kept for seven years from the date the return was due. Filed tax returns. Proof of filing should be kept for at least as long as the statute of limitations applies to that Los Angeles, CA CPA Firm | Client Portal Page | Abeye Hailu, CPA Home Firm Profile Services Individual Tax Services Business Tax Services Payroll Services Small Business Accounting IRS Tax Problems Help New Business Formation Business Consultation Strategic Business Planning Cash Flow Management Internal Controls Client Center Newsletter Guides Client Portal SecureSend Pay My Fee Financial Calculators Blog Contact Us (213) 891-9124 Client Portal Client Portal Portal Login E-Mail * Password * As a valued client you get a secure, password protected portal to store and access your important financial documents from anywhere at anytime. Whether you're at work, home, or on vacation you always have access to your tax returns, financial work papers, or accounting database. This portal also allows us to work together efficiently by securely exchanging working documents, scanned receipts and very large QuickBooks files. To start using the client portal please log in above or register here . Abeye Hailu, CPA 800 S Figueroa Street Suite 650 Los Angeles, CA, 90017 Phone: (213)891-9124 [email protected] Schedule a Consultation Get In Touch Featured Articles An income tax form is like a laundry list - either way you lose your shirt. Fred Allen The hardest thing in the world to understand is the income tax. Albert Einstein The difference between death and taxes is death doesn't get worse every time Congress meets. Will Rogers --> Subscribe to our Emailed Newsletter Client Center Financial Calculators Send Us A File Track Your Refund IRS Tax Forms State Tax Forms Tax Due Dates Contact Us Abeye Hailu, CPA 800 S Figueroa Street Suite 960 Los Angeles, CA 90017 Phone: (213) 891-9124 Fax: (213) 891-1731 [email protected] Resources Search Site Map Privacy Policy Disclaimer Portal Login Forgot Your Password? © 2026 Abeye Hailu, CPA Los Angeles, CA CPA Firm | Tax Due Dates Page | Abeye Hailu, CPA Home Firm Profile Services Individual Tax Services Business Tax Services Payroll Services Small Business Accounting IRS Tax Problems Help New Business Formation Business Consultation Strategic Business Planning Cash Flow Management Internal Controls Client Center Newsletter Guides Client Portal SecureSend Pay My Fee Financial Calculators Blog Contact Us (213) 891-9124 Tax Due Dates Tax Due Dates Abeye Hailu, CPA 800 S Figueroa Street Suite 650 Los Angeles, CA, 90017 Phone: (213)891-9124 [email protected] Schedule a Consultation Get In Touch Featured Articles An income tax form is like a laundry list - either way you lose your shirt. Fred Allen The hardest thing in the world to understand is the income tax. Albert Einstein The difference between death and taxes is death doesn't get worse every time Congress meets. Will Rogers --> Subscribe to our Emailed Newsletter Client Center Financial Calculators Send Us A File Track Your Refund IRS Tax Forms State Tax Forms Tax Due Dates Contact Us Abeye Hailu, CPA 800 S Figueroa Street Suite 960 Los Angeles, CA 90017 Phone: (213) 891-9124 Fax: (213) 891-1731 [email protected] Resources Search Site Map Privacy Policy Disclaimer Portal Login Forgot Your Password? © 2026 Abeye Hailu, CPA Los Angeles, CA CPA Firm | IRS Tax Problems Help Page | Abeye Hailu, CPA Home Firm Profile Services Individual Tax Services Business Tax Services Payroll Services Small Business Accounting IRS Tax Problems Help New Business Formation Business Consultation Strategic Business Planning Cash Flow Management Internal Controls Client Center Newsletter Guides Client Portal SecureSend Pay My Fee Financial Calculators Blog Contact Us (213) 891-9124 IRS Tax Problems Help IRS Tax Problems Help Are you having problems with the IRS? While you may be tempted to respond to a letter or notice from the IRS or state, it?s not always a good idea--even if you have a firm grasp of tax law. Because as friendly as IRS or state auditors might seem, they represent the IRS and state--not you. Sure, taxpayers can--and do--prevail during IRS or state audits, but without an experienced tax professional on your side, it?s less likely that it will happen...and you just might end up owing the IRS or state money instead of getting a refund. We're here to help you resolve your tax problems and put an end to the misery that the IRS can put you through. We pride ourselves on being very efficient, affordable, and of course, extremely discreet. The IRS problems will not just go away by themselves; they just keep getting worse with penalties and interest being added each day. If you owe the IRS, you have a very serious problem. It may take the IRS several years to catch up to you, but they're relentless and have no mercy in collecting all the money that is owed. When the collection process starts, they'll make your life miserable and literally ruin all aspects of your life. When you hire us to represent you during an audit, here's what we do for you:  Take care of all audit correspondence  Make sure you take the steps needed to minimize your tax liability  Handle all discussions with auditors to reduce the risk of additional liability  Appeal a decision, if necessary The importance of being represented by a qualified tax professional during an IRS or State tax audit or tax dispute cannot be stressed enough. Please take a look through our complete IRS problem resolution services by clicking on the links below. IRS Problems Have you received an IRS audit notification? See IRS Audit Representation . Haven't filed your tax returns for years? See Non-Filed Returns Do you owe Back Taxes ? Do you have Payroll Tax Problems ? Has the IRS placed tax liens on your home? See Liens . Is the IRS threatening to seize your bank account and take your money out of the bank. See Levies . Is the IRS threatening to take your paycheck, 401(k), and other retirement accounts? See Wage Garnishments . Is the IRS threatening to seize your personal property? See IRS Seizures . IRS Solutions Owe the IRS a lot of money? - Settle for pennies on the dollar! See Offers In Compromise . Need more time to pay. See Payment Plan . Like to get out from under your tax burden completely. See Bankruptcy . Like to get out of a tax debt caused by misdeeds committed by your spouse? See Innocent Spouse Relief . Like to see what the IRS has on you. See Your IRS File . Get a free consultation with our tax specialist by completing the form below. Name Phone Email Best Time To Call Comments Abeye Hailu, CPA 800 S Figueroa Street Suite 650 Los Angeles, CA, 90017 Phone: (213)891-9124 [email protected] Schedule a Consultation Get In Touch Featured Articles An income tax form is like a laundry list - either way you lose your shirt. Fred Allen The hardest thing in the world to understand is the income tax. Albert Einstein The difference between death and taxes is death doesn't get worse every time Congress meets. Will Rogers --> Subscribe to our Emailed Newsletter Client Center Financial Calculators Send Us A File Track Your Refund IRS Tax Forms State Tax Forms Tax Due Dates Contact Us Abeye Hailu, CPA 800 S Figueroa Street Suite 960 Los Angeles, CA 90017 Phone: (213) 891-9124 Fax: (213) 891-1731 [email protected] Resources Search Site Map Privacy Policy Disclaimer Portal Login Forgot Your Password? © 2026 Abeye Hailu, CPA Los Angeles, CA CPA Firm | Newsletter Page | Abeye Hailu, CPA Home Firm Profile Services Individual Tax Services Business Tax Services Payroll Services Small Business Accounting IRS Tax Problems Help New Business Formation Business Consultation Strategic Business Planning Cash Flow Management Internal Controls Client Center Newsletter Guides Client Portal SecureSend Pay My Fee Financial Calculators Blog Contact Us (213) 891-9124 Newsletter Newsletter Our regularly updated newsletter provides timely articles to help you achieve your financial goals. Please come back and visit often. May 2026 Feature Articles Turn a Real Estate Sale Into a Tax-Smart Strategy Before You Shred: Know Which Tax Records to Keep Plan Carefully to Minimize Taxes on Your Inheritance Tax Tips How Hiring Your Child This Summer Can Reduce Taxes Review Your Withholding After Filing More Entities Gain Access to IRS Business Tax Account QuickBooks Tips Modernize Your Payables with QuickBooks Online   Email Updates Enter your email below to subscribe to our monthly newsletter. Email RSS Feed Print This Page Tax Due Dates Any accounting, business or tax advice contained in this communication, including attachments and enclosures, is not intended as a thorough, in-depth analysis of specific issues, nor a substitute for a formal opinion, nor is it sufficient to avoid tax-related penalties. If desired, we would be pleased to perform the requisite research and provide you with a detailed written analysis. Such an engagement may be the subject of a separate engagement letter that would define the scope and limits of the desired consultation services. Turn a Real Estate Sale Into a Tax-Smart Strategy Selling investment or commercial real estate can result in a substantial tax bill if the property has appreciated significantly. One strategy to help ease your tax burden is an installment sale. What’s an Installment Sale? In an installment sale, the seller gets at least one payment after the tax year in which the sale occurs. So, if you sell investment or commercial real estate, instead of receiving the full purchase price all at once, you get payments over time. This allows you to defer recognition of gain and spread the tax liability over several years. Installment sales can also help attract more buyers because they won’t have to pay the entire price upfront and obtaining financing might be easier. 2 types of installment sales There are a couple of ways to set up an installment sale: 1. Traditional. This generally involves the buyer making payments directly to the seller under the terms of a promissory note. 2. Structured. Here, a third-party assignment company or financial institution assists with the transaction and oversees the payment schedule. The third party typically assumes responsibility for future payments to the seller, which may reduce the seller’s risk. Tax Considerations Gains from real estate held for more than one year are typically taxed at favorable long-term capital gains rates — 15% for most taxpayers and 20% for higher-income taxpayers. For 2026, the 20% rate applies when taxable income exceeds $545,500 (singles), $579,600 (heads of household), $613,700 (married couples filing jointly) or $306,850 (married couples filing separately). With the gain spread over multiple years, an installment sale may help keep you below the 20% rate threshold. Depending on your income level, it might also help prevent you from triggering the 3.8% net investment income tax (NIIT), or at least reduce your NIIT liability. The NIIT applies to net investment income to the extent that modified adjusted gross income exceeds $200,000 (singles and heads of household), $250,000 (joint filers) or $125,000 (separate filers). However, several tax rules can complicate installment sales. For example, depreciation recapture must be reported as ordinary income in the year of sale, even if payments are received later. Only the remaining gain can be spread out under the installment method. The good news is that if your marginal ordinary rate is 32%, 35% or 37%, depreciation recapture is taxed at only 25%. Additionally, installment agreements exceeding $5 million may trigger an IRS interest charge on the deferred tax. Special rules apply to related-party sales and may accelerate the remaining tax if the property is resold within two years. Electing Out Installment reporting is generally automatic if you sell property and receive at least one payment after the tax year of the sale. However, you can choose to elect out of it and report the entire gain in the year of sale. This might make sense if you expect higher tax rates in future years, have current-year losses or deductions that could offset the gain, or want to accelerate income for financial planning purposes. When you file your tax return for the year of the sale, you can decide whether to elect out. Moving Forward Installment sales can be complex. If you’re thinking about selling investment or commercial real estate, contact the office to determine whether an installment sale makes sense for your situation. Before You Shred: Know Which Tax Records to Keep Tax documents can accumulate quickly. While clearing out old files can feel productive, it’s important not to discard anything until you’ve reviewed some record-retention guidelines. Why Good Recordkeeping Is Important Well-organized records make it easier to prepare accurate tax returns and respond if the IRS requests additional information or examines your return. Documents such as receipts and bank statements should support the income, deductions and credits you report. Good recordkeeping also helps you monitor financial activity throughout the year. And it can simplify preparing future tax returns or amended returns. The General Rule Records that support a tax return should generally be kept until the statute of limitations expires for that return. In general, the IRS has three years to assess additional tax after a return is filed. Returns filed before the due date are considered filed on the due date. This three-year window is why you should keep supporting documentation — such as W-2 and 1099 forms, receipts and charitable contribution records — for at least that long. Situations That Extend the Timeframe Certain circumstances allow the IRS additional time to review a return. For example, the statute of limitations increases to six years if more than 25% of gross income is omitted from a return. If a taxpayer fails to file a return or files a fraudulent return, there’s no time limit on when the IRS can assess tax. Additionally, the timeframe for claiming a refund generally extends to three years after filing the return or two years after paying the tax, whichever is later. (This generally would require filing an amended return.) Don’t Discard These Records Too Soon Some documents should be retained beyond the typical three-year period because they may affect multiple tax years or support future transactions. These include: Property and investment records. You should keep records related to property (such as real estate) or investments (such as stocks or bonds) for as long as you own the asset, plus at least three years after it’s sold. These records are needed to calculate the basis, gain or loss when the asset is sold. Retirement plan records. Retain retirement and pension documents for as long as the accounts have funds and for at least three years after the accounts are closed or funds are withdrawn. Keep records of nondeductible IRA contributions indefinitely to prove taxes were already paid on those amounts. Bad debt or worthless securities deductions. Records supporting these claims should generally be kept for seven years from the date the return was due. Filed tax returns. Proof of filing should be kept for at least as long as the statute of limitations applies to that Los Angeles, CA CPA Firm | Disclaimer Page | Abeye Hailu, CPA Home Firm Profile Services Individual Tax Services Business Tax Services Payroll Services Small Business Accounting IRS Tax Problems Help New Business Formation Business Consultation Strategic Business Planning Cash Flow Management Internal Controls Client Center Newsletter Guides Client Portal SecureSend Pay My Fee Financial Calculators Blog Contact Us (213) 891-9124 Disclaimer Disclaimer No Rendering of Advice The information contained within this website is provided for informational purposes only and is not intended to substitute for obtaining accounting, tax, or financial advice from a professional accountant. Presentation of the information via the Internet is not intended to create, and receipt does not constitute, an accountant-client relationship. 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