Safe Harbor CPAs is a team of tax advisors serving individuals based in San Francisco.
The government is preparing for inflation by addressing the wage cap for SSI and cost of living adjustments. “
– Chun Wong
SAN FRANCISCO, CALIFORNIA, UNITED STATES, Jan 6, 2022 /EINPresswire.com/ – Safe Harbor LLP, a top rated San Francisco CPA company at http://www.safeharborcpa.com/, is pleased to announce a new Announce post on inflation and its impact on tax preparation for 2021. For SSI and other government benefits, cost of living adjustments will be made in 2022. The Bay Area CPA team is ready to assist with tax preparation for individuals and business owners in the San Francisco area.
“The government is preparing for inflation by addressing the wage cap for SSI and cost of living adjustments. This means Bay Area residents and business owners may need to update their accounting practices in 2022 to stay compliant, ”said Chun Wong, Managing Partner at Safe Harbor LLP. “We just got a new post highlighting a lot of these changes. If people need help preparing, please feel free to contact us.”
Bay Area residents and business owners can see the new post at https://www.safeharborcpa.com/san-francisco-tax-preparation-cpa-social-security-wage-cap-and-benefit-amounts-increase-for- . 2022 /. The new post provides details on changes to Social Security Benefits or SSI. An additional Medicare tax could also be in sight. The San Francisco accounting firm manages tax preparation for individuals and local businesses. Services may include bookkeeping (https://www.safeharborcpa.com/book-keeping-financial-accounting/), tax advice, and audited finance. The firm provides a variety of tax services to Bay Area individuals including the following: specialty taxes, multi-state taxes, international taxes, and year-end tax returns. The CPAs can assist high net worth individuals with specific accounting requirements and tax returns. Interested persons can view the individual tax preparation page at https://www.safeharborcpa.com/individual-income-tax/. Safe Harbor can help manage new COLA policies and ease bracket creep for Bay Area residents as inflation looms on the horizon.
THE BEST SAN FRANCISCO TAX PREPARATION FOR INDIVIDUALS PREVENTS THE IMPACT OF INFLATION FOR 2022
Here is the background to this release. The U.S. government is preparing for inflation by adjusting the cost of living in 2022. Social security and supplementary insurance benefits (SSI) will increase by 5.9 percent. FICA and OASDI taxes will also be increased for the coming year. The insured income will rise to $ 147,000. An increase in the cost of living adjustments, or COLA, can amount to a tax increase for Bay Area residents and businesses. Early tax planning could help mitigate the impact and avert costly mistakes for the 2022 tax season. A team of tax advisors in San Francisco can help individuals mitigate cost spikes and comply with regulations during a possible inflation.
ABOUT SAFE HARBOR LLP – A PROFESSIONAL CPA COMPANY IN SAN FRANCISCO
Safe Harbor LLP (http://www.safeharborcpa.com) is an accounting firm specializing in accounting and tax services for individuals and companies throughout the San Francisco Bay Area and Greater California. Safe Harbor CPAs help individuals and businesses with tax preparation, defense against IRS exams and audited degrees. The company also provides accounting services including AP / AR, payroll, and inventory management. The company prides itself on friendly yet professional service and uses the latest internet technology to provide high quality customer service.
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January 06, 2022 07:21 GMT
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