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Top 4 Reasons Why Delaying Your Tax Filing May Be A Mistake

03.31.20

On Tuesday, March 17th, Treasury Secretary Steven Mnuchin announced that individual taxpayers get a ninety-day reprieve to pay the income tax they owe, making the revised federal tax filing deadline July 17th, 2020. This applies to individual filers who are due to pay up to $1 million in taxes. Corporate filers get the same length of time to pay up to amounts due on up to $10 million in taxes.

During that three-month deferral period, taxpayers won’t be subject to interest and penalties.

This applies to Federal taxes, while each state is making its own deferral decisions. California has announced a 60-day deferral, making June 15th, 2020 the new state filing deadline.

Feeling relieved? Did you readily decide to delay your filings? Before you do, consider these top 4 things as the revised deadlines might NOT be the right choice for you.

1. Need a refund? If you are in a position to gain a refund, there is no reason to delay filing your taxes. The sooner you file, the sooner your refund can be sent to you. In a world of uncertainty, who knows if the IRS may see a shutdown – which would mean a delay in your refund. So, for those positioned for a refund – the time to file is now.

2. Looking to refinance? If you are looking to do so, you will need to supply tax returns. This means the sooner you file the sooner you will have access to these necessary documents.

3. Interested in potential bailout funds or government assistance? Again, in this situation, you will most likely need to supply tax returns, so the sooner you file the sooner you will have these readily available.

4. Commercial credit lines of interest? We are in unchartered waters. However, memories of 2008 loom when we saw many commercial credit lines pulled from businesses. As the window of opportunity may close to obtain commercial credit lines, now is the time to take advantage of what is available. Part of the commercial credit lending process involves current tax returns, so yet again, delaying your filings may not be the wisest choice.

One thing that remains certain is this – the team at Semaphore in Irvine is accessible, and working round the clock to support their clients. When they say “we’ve got your back”, they mean it. They remain committed to exceptional service, support and unbiased information to help their clientele navigate this turbulence so we can all move forward to brighter horizons. Learn more: SemaphoreHQ.com

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Just in time for The Great American Takeout 2

03.31.20

Just in time for The Great American Takeout 2, Sol Agave at Kaleidoscope in Mission Viejo has launched curbside take-out from 11 a.m. to 7 p.m. daily, as well as delivery through Doordash. The award-winning Mexican restaurant is offering an abbreviated menu of its favorites, and all purchases $40 and higher will receive a free butter cake.

The take-out and delivery menu include a Sol Bowl (organic mix greens, frijoles de la olla, rice, aioli, guacamole, pico, queso, and a choice of skirt steak, chicken, carnitas, mahi-mahi or veggies); Sol Agave Salad (organic greens, sautéed peppers and onions, roasted corn, jicama, avocado, queso fresco, balsamic vinaigrette and a choice of chicken, steak or shrimp); Burrito Mojado (rice, beans, cheese, pico de gallo, chicken or steak, and red or green sauce); Taquitos Al Gusto (manchego cheese rolled in corn tortillas and served crispy over shredded greens and topped with sour cream, guacamole and “trocka” salsa, along with a choice of chile Verde or short ribs); Shrimp Taquitos (jumbo Mexican shrimp stuffed with a creamy Dungeness crab filling, wrapped in a crispy corn tortilla and served with roasted pepper aioli and cilantro aioli).

There’s also Tacos de Honga (skirt steak, portobello mushrooms, grilled onions, and cheese served on a hot skillet, and served with salsa morita, rice, refried beans and hand-made tortillas); Chile Verde (slow-cooked pork in their chef’s special tomatillo and onion sauce, Veracruz white rice, and hand-made tortillas); Sol Agave’s Signature Famous Carnitas (chef’s famous Mexican braised pork, served with rice, refried beans, sour cream, guacamole, salsa cruda, and hand-made corn tortillas); Chile Colorado (slow-braised short ribs in a red roasted chile and beer sauce, served with Veracruz white rice and hand-made tortillas); and Fajitas De la Casa (sautéed peppers and onions, sour cream, guacamole, rice, refried beans and handmade corn tortillas with a choice of chicken, steak or shrimp.)

In addition, Sol Agave has launched its own Agave Mexico margarita mix, so customers can make their own margaritas at home. The premium mix is $8 for a bottle, or buy three for $20.

Sol Agave is located on the top level of Kaleidoscope at 27741 Crown Valley Pkwy., off the 5 Fwy. in Mission Viejo. For more information, call 949.446.8058 or visit solagave.com or order through Doordash.

Riptide Rockin’ Sushi & Teppan Grills, one of South County’s most popular sushi restaurants, is open for take-out with curbside pick-up, their own delivery service or through Doordash or Uber Eats. The Mission Viejo restaurant is open nightly, except on Mondays and Tuesdays. Pick-up starts at 5 p.m., and phone orders can be placed starting at 4 p.m. Visit their website or call 949.282.0181.

Riptide Sushi is located in Kaleidoscope at 27741 Crown Valley Parkway, Mission Viejo.

RTE (Ready to Eat) BBQ, is offering a Take-Home Ramen Kit selling take-home ramen kits which are delicious as well as fun for the whole family! Available by pre-order only, the kits include noodles, soup, bamboo shoots, nori, and scallions. A 3-serving pack is $18; the 5-serving pack is $25, and the 10-serving pack is $45. Text them for more information and to place an order: 949.229.6879.

RTE is located inside Union Market Mission Viejo at Kaleidoscope at 27741 Crown Valley Parkway, Mission Viejo.

 

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