In the News
“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...
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
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
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!?
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?
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...
Cost Segregation & Tax Reform – Opportunities for Increased Depreciation and Expensing
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?
With the Tax Reform legislation passed in December 2017 and effective for new and used fixed asset additions, businesses can elect a 100% depreciation deduction for qualified tangible personal property. Also, businesses can immediately expense more amounts under the...
Cryptocurrency (and What it Means for Your 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...
International Tax Business Booming at Irvine Firm
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...