In the News
Cryptocurrency (and What it Means for Your Taxes)
Bitcoin had a banner year in 2017. Though it's been around for almost a decade, the explosive growth experienced in 2017 has piqued the interest of investors and the IRS alike. As Bitcoin and other cryptocurrencies become more mainstream, savvy investors are advised...
International Tax Business Booming at Irvine Firm
By PETER J. BRENNAN Manuel Ramirez is reluctant to add employees. When the chairman of RJI International CPAs was asked if he might add, say, 10 more this year, he quickly said, “I hope not.” Ramirez, who doesn’t want the complexities...
Internal Controls – A Key Ingredient to Success!
Few restaurant and franchise owners would cite internal controls among the key ingredients to success. However, restaurant internal controls are crucial to operating a self-reliant business and minimizing financial mistakes and threats. Restaurants tend to experience...
Upcoming Changes to the Measure of Inventory
Confucius said, “Life is really simple,but we insist on making it complicated”. This truth can be said for the accounting profession and some of its related accounting pronouncements. With complex derivative instruments, hedging transactions, share-based compensation,...
Crossing State Lines: Complexities of State Business
Many state governments are placing an increased emphasis on ensuring that out- of-state businesses that should be paying sales and income taxes are registered and are paying the proper amount of taxes. Many states have discovery departments for the very purpose of...
Capitalize on the Hot M&A Market?
Last year, the value of Merge & Acquisition (M&A) transactions reached a record high with aggregate deals in excess of $4.8 trillion. This exceed the previous high in 2007 which surprassed $4.1 trillion. Read More
Who is Watching Over your Finances?
The Securities and Exchange Commission (SEC) requires all listed companies to have an audit committee (or equivalent) as part of its Board of Directors. Highly effective audit committees are comprised of “independent” members with at least one financial expert. Read...
Due Diligence and Quality of Earnings
If you are thinking of buying or selling a company, you have probably heard the term ‘due diligence’. What does this term actually mean? Read More
IRS Loses Third Captive Case
On September 21st, 2015 the U.S. Tax Court ruled in favor of an insurance company, R.V.I. Guaranty Co., Ltd. & Subsidiaries v. Commissioner. It is the third major captive insurance case ruled in favor of taxpayers within the last two years and it comes on the heels of...
Simplify to Innovate
Taking something complex and making it as simple as possible is an important aspect of innovation. To quote one of the great innovators of our time, Steve Jobs, “Simple can be harder than complex. You have to work hard to get your thinking clean to make it simple. But...