In the News

California Cannabis Update

California Cannabis Update

California has the largest legal marijuana market in the world and is on track to post a record $3.1 billion in cannabis sales this year, representing a 23% increase over 2018. As CPA’s and business advisors, one of the increasingly common questions we get from...

California Tax Traps on M&A Transactions

California Tax Traps on M&A Transactions

If you think it’s easy to structure the sale of a business to minimize taxes, think again. Over the last four decades, RJI CPAs has noticed a disturbing trend in California. When an owner sells the assets of a California company, they are going to pay California...

“Q of E” Your “E” Ticket to a Successful Acquisition

“Q of E” Your “E” Ticket to a Successful Acquisition

If you are thinking of buying or selling a company, you have probably heard the term “due diligence.” What does this term actually mean? Although due diligence can essentially mean validating certain claims that have been made in any context (qualitative or...

How Is the Restaurant Industry Impacted by Tax Reform?

How Is the Restaurant Industry Impacted by Tax Reform?

The Tax Cuts and Jobs Act has yielded just as many questions as answers since its inception. Restaurants structured as C-Corporations enjoy a 21% tax rate, while restaurants operating as “flow-through” entities enjoy the benefit of the 20% deduction of Qualified...

State Court Throws Contract Workers Into Upheaval

State Court Throws Contract Workers Into Upheaval

With the Dynamex decision, the California Supreme Court created new, unlegislated law with respect to the use of independent contractors; many companies continue to seek advice on how to mitigate the impact of that case. Dynamex, adjudicated in favor of California tax...

Challenges Facing the Hospitality Industry

Challenges Facing the Hospitality Industry

One of the biggest challenges for the hospitality industry is the balancing act between customer service and the related internal controls that go into running a hotel, resort or restaurant. While the benefits of exemplary customer service are obvious (e.g. more...

Pay Zero Tax on Sale of Your Business/Stock/Other Assets!?

Pay Zero Tax on Sale of Your Business/Stock/Other Assets!?

Created by the Tax Cuts and Jobs Act (TCJA), Opportunity Zones were designed to increase investment in low-income communities throughout the country. In June of 2018 over 8,000 communities in all 50 states, the District of Columbia and five U.S. territories were...

It’s Only Been 20+ Years…..Not-for-Profits, Are You Ready?

It’s Only Been 20+ Years…..Not-for-Profits, Are You Ready?

That is how long it has been since the Financial Accounting Standards Board (FASB) last modified the accounting rules and disclosure requirements for non-profit entities, including churches, schools and 501(c)3 charitable entities. All this changed with the issuance...

Could a Change in Accounting Method Save Taxes?

Could a Change in Accounting Method Save Taxes?

With the 2017 tax filing season at a close, taxpayers and their accountants are now shifting their focus to year-end planning. While most year-end planning conversations include a discussion about the timing of major purchases, the Tax Cuts and Jobs Act awards small...