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Author Archives: Karen Turner

Announcements OC REGISTER NAMES RJI CPAS A WINNER OF THE TOP WORKPLACES 2022 AWARD
December 10, 2022in Announcements 0 Comments 0 Likes

OC REGISTER NAMES RJI CPAS A WINNER OF THE TOP WORKPLACES 2022 AWARD

RJI CPAS Ranks #19 of 86 in the Small Companies Category Irvine, California, December 10, 2022 – The Orange County Register has awarded RJI CPAs a Top Workplaces 2022 honor.

by Karen Turner
Insights Standard business mileage rate will increase for the second half of 2022
June 15, 2022in Insights 0 Comments 0 Likes

Standard business mileage rate will increase for the second half of 2022

The IRS recently announced that it’ll increase the standard mileage rate for qualified business driving for the second half of 2022. The adjustment reflects the soaring cost of gasoline this

by Karen Turner
Announcements DFK WELCOMES NEW EXECUTIVE DIRECTOR
June 1, 2022in Announcements 0 Comments 0 Likes

DFK WELCOMES NEW EXECUTIVE DIRECTOR

RJI CPAs welcome the appointment of a top international accountant as executive director at DFK International. DFK, a top ten global association of independent accounting, tax and business advisory firms,

by Karen Turner
Insights Proposed regs for inherited IRAs bring unwelcome surprises
May 27, 2022in Insights 0 Comments 0 Likes

Proposed regs for inherited IRAs bring unwelcome surprises

Back in late 2019, the first significant legislation addressing retirement savings since 2006 became law. The Setting Every Community Up for Retirement Enhancement (SECURE) Act has resulted in many changes

by Karen Turner
Announcements OCBJ Best Places to Work 2022
May 26, 2022in Announcements 0 Comments 0 Likes

OCBJ Recognizes RJI CPAs as a one of OC’s Best Places to Work 2022

The Orange County Business Journal has recognized RJI CPAs a one of Orange County’s Best Places to Work in the small companies’ category. Our employees communicated what it’s like to

by Karen Turner
Insights New State Laws Affect Businesses for the Good and the Bad
March 30, 2022in Insights 0 Comments 0 Likes

New State Laws Affect Businesses for the Good and the Bad

A bill Governor Gavin Newsom signed into law in February has positive tax implications for businesses, while a second bill requires certain companies to provide workers with COVID-19 sick leave

by Karen Turner
Insights Why a Cost Segregation Study is a Good Idea
March 25, 2022in Insights 0 Comments 0 Likes

Why a Cost Segregation Study is a Good Idea

Accelerate Depreciation Deductions to Reduce Taxes and Boost Cash Flow The COVID-19 pandemic has resulted in many companies conserving cash and not buying much equipment during the past year. An

by Karen Turner
Announcements OC REGISTER NAMES RJI CPAS A WINNER OF THE TOP WORKPLACES 2021 AWARD
December 14, 2021in Announcements 0 Comments 0 Likes

OC REGISTER NAMES RJI CPAS A WINNER OF THE TOP WORKPLACES 2021 AWARD

RJI CPAS Ranks #11 of 85 in the Small Companies Category Irvine, California, December 14, 2021 – The Orange County Register has awarded RJI CPAs a Top Workplaces 2021 honor.

by Karen Turner
Insights U.S. House passes the Build Back Better Act
November 23, 2021in Insights 0 Comments 1 Likes

U.S. House passes the Build Back Better Act

The U.S. House of Representatives passed a crucial part of President Biden’s agenda by a vote of 220-213 on November 19. The Build Back Better Act (BBBA) includes numerous provisions

by Karen Turner
Insights Don’t Forget to Factor 2022 Cost-of-living Adjustments Into Your Year-end Tax Planning
November 16, 2021in Insights 0 Comments 0 Likes

Don’t Forget to Factor 2022 Cost-of-living Adjustments Into Your Year-end Tax Planning

The IRS recently issued its 2022 cost-of-living adjustments for more than 60 tax provisions. With inflation up significantly this year, mainly due to the COVID-19 pandemic, many amounts increased considerably

by Karen Turner
Insights Potential Tax Law Changes Hang Over Year-end Tax Planning for Individuals
November 15, 2021in Insights 0 Comments 0 Likes

Potential Tax Law Changes Hang Over Year-end Tax Planning for Individuals

As if another year of the COVID-19 pandemic wasn’t enough to produce an unusual landscape for year-end tax planning, Congress continues to negotiate the budget reconciliation bill. The proposed Build

by Karen Turner
Insights The Infrastructure Investment and Jobs Act includes Tax-related Provisions You’ll Want to Know About
November 15, 2021in Insights 0 Comments 0 Likes

The Infrastructure Investment and Jobs Act includes Tax-related Provisions You’ll Want to Know About

Almost three months after it passed the U.S. Senate, the U.S. House of Representatives has passed the Infrastructure Investment and Jobs Act (IIJA), better known as the bipartisan infrastructure bill.

by Karen Turner
Insights Businesses Must Navigate Year-end Tax Planning with New Tax Laws Potentially on the Horizon
November 15, 2021in Insights 0 Comments 0 Likes

Businesses Must Navigate Year-end Tax Planning with New Tax Laws Potentially on the Horizon

The end of the tax year is fast approaching for many businesses, but their ability to engage in traditional year-end planning may be hampered by the specter of looming tax

by Karen Turner
Insights Bolster Wealth Management with Trusts
August 25, 2021in Insights 0 Comments 0 Likes

Bolster Wealth Management with Trusts

by Karen Turner
Media Coverage Capping 1031 Exchanges Is a Recipe for Stagnation in Commercial Property Redevelopment
August 5, 2021in Media Coverage 0 Comments 0 Likes

Capping 1031 Exchanges Is a Recipe for Stagnation in Commercial Property Redevelopment

Opinion: Capping 1031 Exchanges Is a Recipe for Stagnation in Commercial Property Redevelopment

by Karen Turner
Insights New CA SALT Cap Workaround Saves Federal Taxes
August 4, 2021in Insights 0 Comments 0 Likes

New CA SALT Cap Workaround Saves Federal Taxes

What is the CA Salt Cap Workaround? California has joined the growing list of states that have enacted a SALT cap workaround. California Governor Gavin Newsom recently signed Assembly Bill

by Karen Turner
Insights Consider Taxes Before Moving Out of State
June 24, 2021in Insights 0 Comments 0 Likes

Consider Taxes Before Moving Out of State

With so many people working remotely these days, it has become common to think about moving to another state — perhaps for better weather, to be closer to family or

by Karen Turner
COVID-19 Will Changes to CA’s PPP Loan Bill Affect Your Business?
April 21, 2021in COVID-19 0 Comments 0 Likes

Will Changes to CA’s PPP Loan Bill Affect Your Business?

2020 California PPP Law Explained California enacted a law in late 2020 allowing businesses to exclude PPP loan amounts under the federal CARES Act for state tax purposes, but denying

by Karen Turner
Announcements Manuel Ramirez Joins DFK/USA Executive Committee
September 8, 2020in Announcements 0 Comments 0 Likes

Manuel Ramirez Joins DFK/USA Executive Committee

September 4, 2020: DFK/USA is pleased to announce the addition of Manuel Ramirez to the Executive Committee. Comprised of nine officers, the Executive Committee, is authorized to act on behalf

by Karen Turner
Announcements Get to Know RJI CPAs: Meet Ian Lawson, Audit & Assurance Director
September 8, 2020in Announcements 0 Comments 0 Likes

Get to Know RJI CPAs: Meet Ian Lawson, Audit & Assurance Director

When Ian isn’t focusing on practice development and client retention for RJI CPAs, he can be found on the golf course or driving down the coast with the top down

by Karen Turner
COVID-19 IRS Guidance Provides RMD Rollover Relief
July 1, 2020in COVID-19 0 Comments 0 Likes

IRS Guidance Provides RMD Rollover Relief

The CARES Act was enacted in an attempt to mitigate the economic effects of the COVID-19 pandemic. Among other things, it extends favorable tax treatment to qualified individuals who take

by Karen Turner
COVID-19 New Law Improves PPP Loan Flexibility & Forgiveness
June 29, 2020in COVID-19 0 Comments 0 Likes

New Law Improves PPP Loan Flexibility & Forgiveness

The recently approved Paycheck Protection Program Flexibility Act (PPPFA) provides businesses with much-needed flexibility regarding the use of Paycheck Protection Program (PPP) funds and eases the requirements for full loan

by Karen Turner
COVID-19 IRS Denies Deductions for Expenses Paid by PPP Loans
June 8, 2020in COVID-19 0 Comments 0 Likes

IRS Denies Deductions for Expenses Paid by PPP Loans

The IRS has recently confirmed that they will not allow taxpayers to claim tax deductions for expenses that were paid by PPP loans that were forgiven, even for recurring expenses

by Karen Turner
COVID-19 Good News for Small Businesses as Senate Passes PPP Reform Bill
June 8, 2020in COVID-19 0 Comments 0 Likes

Good News for Small Businesses as Senate Passes PPP Reform Bill

The U.S. Senate passed the House version of the Paycheck Protection Program Flexibility Act on June 3, 2020, easing restrictions on how small businesses can use their PPP loan funds

by Karen Turner
COVID-19 SBA Clarifies Good Faith Certification for PPP Loans
June 8, 2020in COVID-19 0 Comments 0 Likes

SBA Clarifies Good Faith Certification for PPP Loans

On April 23, the Small Business Administration (SBA) issued a warning that businesses with substantial access to liquidity may not qualify for Paycheck Protection Program (PPP) loans. Concerned that their

by Karen Turner
COVID-19 House Proposes More Flexibility for PPP Program. Will Senate Follow?
May 29, 2020in COVID-19 0 Comments 0 Likes

House Proposes More Flexibility for PPP Program. Will Senate Follow?

The U.S. House of Representatives passed a bill on May 28, 2020 that would make it easier for businesses to have their Paycheck Protection Program (PPP) loans forgiven by reducing

by Karen Turner
COVID-19 Missed or Denied a PPP Loan? Good News, Here Are Some Alternatives
May 5, 2020in COVID-19 0 Comments 0 Likes

Missed or Denied a PPP Loan? Good News, Here Are Some Alternatives

The Paycheck Protection Program (PPP) loan is anticipated to quickly run through its second round of $310 billion in funding due to high demand, which will leave many small business

by Karen Turner
COVID-19 New Funds Now Available for PPP and EIDL Loans
April 27, 2020in COVID-19 0 Comments 0 Likes

New Funds Now Available for PPP and EIDL Loans

On April 24 the Paycheck Protection Program (PPP) Increase Act of 2020 was signed into law. The Act is an interim stimulus plan designed to provide relief to small businesses

by Karen Turner
COVID-19 How to Achieve Maximum PPP Loan Forgiveness
April 24, 2020in COVID-19 0 Comments 0 Likes

How to Achieve Maximum PPP Loan Forgiveness

If you received a Paycheck Protection Program (PPP) loan, you have probably already started thinking about the next step – determining how much of the loan will be forgiven. Qualifying

by Karen Turner
COVID-19 New COVID-19 law makes favorable changes to “qualified improvement property”
April 20, 2020in COVID-19 0 Comments 0 Likes

New COVID-19 law makes favorable changes to “qualified improvement property”

The law providing relief due to the coronavirus (COVID-19) pandemic contains a beneficial change in the tax rules for many improvements to interior parts of nonresidential buildings. This is referred

by Karen Turner
COVID-19 The IRS announces new COVID-19-related assistance for taxpayers
April 13, 2020in COVID-19 0 Comments 0 Likes

The IRS announces new COVID-19-related assistance for taxpayers

The IRS and the U.S. Department of Treasury have announced new relief for federal taxpayers affected by the coronavirus (COVID-19) pandemic. The IRS had already extended certain deadlines to file

by Karen Turner
COVID-19 Answers to questions about the CARES Act employee retention tax credit
April 7, 2020in COVID-19 0 Comments 0 Likes

Answers to questions about the CARES Act employee retention tax credit

The recently enacted Coronavirus Aid, Relief, and Economic Security (CARES) Act provides a refundable payroll tax credit for 50% of wages paid by eligible employers to certain employees during the

by Karen Turner
COVID-19 Coronavirus (COVID-19): Tax relief for small businesses
March 23, 2020in COVID-19 0 Comments 0 Likes

Coronavirus (COVID-19): Tax relief for small businesses

Businesses across the country are being affected by the coronavirus (COVID-19). Fortunately, Congress recently passed a law that provides at least some relief. In a separate development, the IRS has

by Karen Turner
COVID-19 What you need to know about the Families First Coronavirus Response Act
March 20, 2020in COVID-19 0 Comments 0 Likes

What you need to know about the Families First Coronavirus Response Act

President Trump has signed into law the Families First Coronavirus Response Act. Among other things, the new law temporarily requires certain employers to provide expanded paid sick and family leave

by Karen Turner
COVID-19 BREAKING: U.S. Treasury Secretary now says tax filing deadline is moved to July 15
March 20, 2020in COVID-19 0 Comments 0 Likes

BREAKING: U.S. Treasury Secretary now says tax filing deadline is moved to July 15

U.S. Treasury Department Secretary Steven Mnuchin announced that the 2019 income tax filing deadline will be moved to July 15, 2020 from April 15, 2020, because of the coronavirus (COVID-19)

by Karen Turner
COVID-19 The IRS extends the federal income tax payment deadline
March 20, 2020in COVID-19 0 Comments 0 Likes

The IRS extends the federal income tax payment deadline

After U.S. Treasury Secretary Steven Mnuchin’s announcement that the deadline for paying federal income taxes would be extended, the IRS released guidance on March 18 outlining the details. IRS Notice

by Karen Turner
Insights The IRS provides guidance on meal and entertainment deductions
March 4, 2020in Insights 0 Comments 0 Likes

The IRS provides guidance on meal and entertainment deductions

The IRS has released proposed regulations addressing the deductibility of meal and entertainment expenses in tax years beginning after December 31, 2017. Among other things, the proposed regs clear up

by Karen Turner
Insights How business owners may be able to reduce tax by using an S corporation
February 18, 2020in Insights 0 Comments 0 Likes

How business owners may be able to reduce tax by using an S corporation

Do you conduct your business as a sole proprietorship or as a wholly owned limited liability company (LLC)? If so, you’re subject to both income tax and self-employment tax. There

by Karen Turner
Insights The SECURE Act likely to affect your retirement and estate plans
February 10, 2020in Insights 0 Comments 0 Likes

The SECURE Act likely to affect your retirement and estate plans

In late 2019, the first substantial legislation related to retirement savings since 2006 became law. The Setting Every Community Up for Retirement Enhancement (SECURE) Act brings numerous changes to the

by Karen Turner
Insights Numerous tax limits affecting businesses have increased for 2020
January 27, 2020in Insights 0 Comments 0 Likes

Numerous tax limits affecting businesses have increased for 2020

An array of tax-related limits that affect businesses are annually indexed for inflation, and many have increased for 2020. Here are some that may be important to you and your

by Karen Turner
Insights The SECURE Act changes the rules for employers on retirement plans
January 27, 2020in Insights 0 Comments 0 Likes

The SECURE Act changes the rules for employers on retirement plans

The Setting Every Community Up for Retirement Enhancement (SECURE) Act is the first significant retirement-related legislation in more than a dozen years. It brings many changes that affect employers of

by Karen Turner
Insights Wayfair revisited — It’s time to review your sales tax obligations
January 6, 2020in Insights 0 Comments 0 Likes

Wayfair revisited — It’s time to review your sales tax obligations

In its 2018 decision in South Dakota v. Wayfair, the U.S. Supreme Court upheld South Dakota’s “economic nexus” statute, expanding the power of states to collect sales tax from remote

by Karen Turner
Insights Small Businesses: It may not be not too late to cut your 2019 taxes
December 16, 2019in Insights 0 Comments 0 Likes

Small Businesses: It may not be not too late to cut your 2019 taxes

Don’t let the holiday rush keep you from taking some important steps to reduce your 2019 tax liability. You still have time to execute a few strategies, including: 1. Buying

by Karen Turner
Insights IRS updates rules for using per diem rates
December 10, 2019in Insights 0 Comments 0 Likes

IRS updates rules for using per diem rates

The IRS recently issued guidance on how businesses, self-employed individuals and qualified employees can use the per diem rules to substantiate their business travel expenses for tax purposes. The guidance

by Karen Turner
Insights Holiday parties and gifts can help show your appreciation and provide tax breaks
December 2, 2019in Insights 0 Comments 0 Likes

Holiday parties and gifts can help show your appreciation and provide tax breaks

With Thanksgiving behind us, the holiday season is in full swing. At this time of year, your business may want to show its gratitude to employees and customers by giving

by Karen Turner
Insights Two valuable year-end tax-saving tools for your business
November 26, 2019in Insights 0 Comments 0 Likes

Two valuable year-end tax-saving tools for your business

At this time of year, many business owners ask if there’s anything they can do to save tax for the year. Under current tax law, there are two valuable depreciation-related

by Karen Turner
Insights IRS Updates Rules for Mileage-Related Deductions
November 22, 2019in Insights 0 Comments 0 Likes

IRS Updates Rules for Mileage-Related Deductions

The IRS has issued new guidance updating the rules for using optional standard mileage rates when calculating “above-the-line” deductions for the costs of operating an automobile for certain purposes. IRS

by Karen Turner

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