CME Tax and Financial Services

02/20/2026

Let's talk about audit. Whenever we submit a report to a government agency (IRS, FTB, EDD, CDTFA, etc.) there is a chance of being audited. The process goes like this.

Step 1. Your tax return is picked.

Step 2. Your documents are matched with other documents. For example, if you submitted your federal tax return, the IRS will match it with the matching documents sent to the IRS. For example, if your W-2's and other documents match with other documents you have on file, they will let it be and you wouldn't even know you've been audited. If there are questions regarding your documents, they will write you a letter asking you to explain how you've arrived with the amount. They'd ask you to submit additional documents to support your position.

Step 3. They will scrutinize your return by comparing them with your previous years' tax returns and with your industry. If there are discrepancy, they will ask for more documents.

If you need consultation regarding audit, please message us or call us.

02/17/2026

What is S.E.O.? S.E.O. stands for search engine optimization. It's essentially the search engine's algorithm that allows you to go on top of the search list. Facebook, X, Google, etc. have different methods of doing it. As a small business, it's especially important for us to have a basic grasp of it. We're slowly improving our online presence. Pretty soon, we will get our name out there as a tax and financial services firm in the online environment. Meanwhile, if you are in DTLA, you can call us and schedule for an consultation.

What makes SEO? Fresh content, interaction, and of course, search words. Of course, since this is Facebook, social interaction is encouraged. It is a social media site after all.

02/12/2026

I really like plants. Our office is full of it. I maintain our office plants. More often than not, I'm successful at cultivating them. This gives me a break from doing taxes.

This spider plant is grown on fish tank water! My business partner removed it from a shared pot with snake plants since it's competing with it. It's been thriving ever since!

02/12/2026

Reasons to delay filing your taxes:
1.) You're waiting for all of your documents:
- if you miss a tax document (W-2's, 1099's, 1098's), you will receive a letter in a couple of years from the IRS telling you about changes in your tax returns. The IRS has a copy of those previously mentioned tax documents and matches it with what you submitted.

2.) You have an earned income credit the previous year.
- if you are receiving an earned income credit last year, chances are high that you'll receive it this year. The IRS releases refund for earned income credit by February 15 so it's better to file less than a few days before February 15 than at the beginning of tax season when the IRS will hold your refund until February 15.

3.) You have a dependent only you can claim.
- similarly, the earliest refund someone with child tax credit can receive is on February 15. If you don't have an ex or a sibling you need to race filing with, it's better to wait a few days before February 15 than the first few days of the opening of the tax season.

Here are a few reasonable points for filing after February 15. There's nothing people can do for documents that hasn't arrive other than to call the company. However, it doesn't mean to wait until April 15 to file the returns. Between February 15 to April 15, there is a 2 month window people can file their returns with no interest and penalties.

02/11/2026

Years ago, I was overwhelmed with the idea of using social media and internet to advertise. I want to delegate that so that I could focus on tax preparation and book keeping. We had someone qualified to do that.

They were supposed to be experienced with marketing. So my only instruction was to work with SEO to make the company more visible and to post at Craigslist. Nonetheless, it wasn't getting the results I want.

I decided to work the social media again. I looked at my logo and I asked myself, "does it look like a financial services logo to you?" The answer is no.

There are colors we associate with certain services. For food, the color is red, yellow, and green. For financial services, it's blue and green. Blue is the color of safety. Green is the color of money. It's not peach, which is the color of makeup.

At the same time, I like the term "late 1900's". It makes people feel like it's a stable institution when in reality, it's the years leading up to the 21st century.

That being said, I'm quite satisfied with the new logo. It evokes the feeling of stability and expertise - both of which we have through our years of experience.

I will slowly improve our online presence. I'm slowly fixing our FB page. When I have more time, I'll build our website.

02/10/2026

The IRS receives a copy of your year end tax forms such as 1099's, W-2's, and 1098's. If you didn't file them with your tax returns, expect the IRS to write you a letter adjusting your tax returns within a year or two.

CME provides customers with general Tax Services, IRS Audit, and Financial and Tax Consultations.

02/08/2026

We just updated the logo. Our company has been established in 1994. What do you think of the new logo?

02/04/2026

The amount you pay/ refund you will receive when you file your taxes balances out with the amount that was taken out from your pay check or estimated taxes you pay.

When you file your taxes, you are computing the amount of taxes you owe from the previous year. If you overwithhold/overpay, you get a refund. If you didn't pay enough, you pay the balance. That being said, having a refund is similar to lending Uncle Sam money which he will pay when you file your taxes. If you underwithhold/underpay, you will pay the balance when you file your taxes. Both filing and payment are due on April 15 but there are exceptions to this rule.

CME provides customers with general Tax Services, IRS Audit, and Financial and Tax Consultations.

02/03/2026

Planning for next week's tasks. Do you still use a manual planner?

01/30/2026

What tax questions would you like to ask a tax pro?

02/01/2025