• Skip to main content
  • Skip to the end
  • People
  • Services
    • Tax
    • Assurance & Accounting
    • Accounting Solutions for Business
    • Estates & Trusts
    • Business Advisory
      • Start-up Advising
      • Corporate Governance
      • Internal Control
      • Growth Management
      • Succession Planning
    • Valuation
      • Valuation Services
      • ESOPs
      • Start-up Funding
      • Stock Options
      • Valuation Process
    • Litigation Services
    • Benefit Plans
  • Expertise
    • Construction
    • Emerging Businesses
    • Family Wealth & Individual Tax Planning
    • International
    • Manufacturing & Distribution
    • Nonprofit
    • Real Estate
    • Recreation & Entertainment
    • Renewable Energy
    • Technology
  • Resources
    • Estate Planning Podcast
    • Estate Planning Year-End Check Up
    • Insight on Estate Planning Blog
    • Founder’s Pit Crew
    • International Tax Articles
    • Nonprofit Insights Blog
    • Tech Company Life Cycle Chart
    • Tech Blog
  • News & Events
    • COVID-19 Articles
    • Newsletters
    • ASL Talks
    • Press Releases
    • Media
  • Careers
  • About
    • About Us
    • Our Mission
    • Our Community
    • Associations
  • Contact
  • File Sharing
  • Pay Online
  • About
    • About Us
    • Our Mission
    • Our Community
    • Associations
  • Contact
  • File Sharing
  • Pay Online
ASL
  • People
  • Services
    • Tax
    • Assurance & Accounting
    • Accounting Solutions for Business
    • Estates & Trusts
    • Business Advisory
      • Start-up Advising
      • Corporate Governance
      • Internal Control
      • Growth Management
      • Succession Planning
    • Valuation
      • Valuation Services
      • ESOPs
      • Start-up Funding
      • Stock Options
      • Valuation Process
    • Litigation Services
    • Benefit Plans
  • Expertise
    • Construction
    • Emerging Businesses
    • Family Wealth & Individual Tax Planning
    • International
    • Manufacturing & Distribution
    • Nonprofit
    • Real Estate
    • Recreation & Entertainment
    • Renewable Energy
    • Technology
  • Resources
    • Estate Planning Podcast
    • Estate Planning Year-End Check Up
    • Insight on Estate Planning Blog
    • Founder’s Pit Crew
    • International Tax Articles
    • Nonprofit Insights Blog
    • Tech Company Life Cycle Chart
    • Tech Blog
  • News & Events
    • COVID-19 Articles
    • Newsletters
    • ASL Talks
    • Press Releases
    • Media
  • Careers
Search | Menu

Current Buzz

Cutting edge business wrap-up
Next
July 21, 2021

Paycheck Protection Program Updates – July 2021

PPP Loan Payments May Be Due for Some Borrowers – PPP loan borrowers have ten months after their “Covered Period” ends (anywhere between 8 and 24 weeks after receiving loan proceeds) before loan payments are required. Borrowers can apply for forgiveness at any time before the loan matures but will need to start making payments if they apply after this ten-month period. For those who received a PPP loan at the beginning of the COVID pandemic, it may be close to the end of their ten-month window, and payments may be required soon. (more…)

Share Article
Print
Categories: COVID-19, Summer 2021
Tags: COVID-19, Paycheck Protection Program, SBA Loans,
July 21, 2021

Tax Considerations for the Sale of Real Estate

By Ivette Carrasco, CPA, Tax Manager
ASL Real Estate Group

There are different tax treatments to consider when selling your real estate property. The property can be classified as a primary residence, a real estate rental, an investment property, or a second home/vacation rental. The applicable tax consequences on the sale of a property depends on how the asset was classified in the current and prior tax years. It is important for real estate owners to be aware of the various tax implications that a real estate sale can trigger. (more…)

Share Article
Print
Categories: Real Estate, Summer 2021
Tags: Investment property, Ivette Carrasco, Real Estate, Rental real estate, Vacation rental,
July 21, 2021

Fraud Trends in the Construction Industry

By Deepa Bhat, CPA, CFE, ACA, Principal
ASL Construction Group

The COVID-19 pandemic created challenging circumstances for many Bay Area construction contractors. The combination of government orders and fear of virus transmission led to the delay or cancellation of many scheduled projects. And unfortunately, even prior to the COVID-19 pandemic, construction companies were dealing with another challenging situation, employees and vendors perpetrating fraud schemes against the company. According to the ACFE 2020 Report to the Nations, the median fraud-related loss experienced by construction companies was $200,000 per incident (based on investigations that occurred between January 2018 and September 2019). This means, construction is in the top six of the highest median loss experienced, behind mining at $475,000; energy at $275,000; real estate at $254,000; telecommunications at $250,000; and health care also at $200,000. This unfavorable ranking reflects the need for construction companies to do more to prevent and detect fraud schemes to limit losses. (more…)

Share Article
Print
Categories: Construction Corner, Summer 2021
Tags: Certified Fraud Examiners, construction companies, Construction Fraud, Deepa Bhat,
July 14, 2021

New Infrastructure Plan - A “Once in a Generation” Investment in Renewable Energy

By Steve Carter, CPA, Principal
ASL Renewable Energy Group

In March 2021, President Biden announced his $2.3 trillion infrastructure bill, The American Jobs Plan. The package targets both traditional and non-traditional infrastructure, for example, roads, bridges, and water systems as well as the caregiving industry. The Plan also calls for substantial investments in research and development and expanding broadband internet access to rural areas.

Renewable energy is a focal point of the Plan, from calls to upgrade and modernize existing electrical infrastructure to investing in electric vehicles and clean energy. Part of the Plan looks to involve the private sector while other financing options include tax credits and incentives. (more…)

Share Article
Print
Categories: Renewable Energy, Summer 2021
Tags: Infrastructure bill, Renewable Energy Companies, Steve Carter, Tax Credits,
July 7, 2021

Unforeseen Consequences - Tax Treatment of Litigation Proceeds and Expenses

When a company is involved in litigation—as either a plaintiff or a defendant—it is essential that the management team and legal counsel consider the potential tax implications of the action as early as possible. Advance planning and consultation can have a major impact on both the tax treatment of any proceeds and the deductibility of attorneys’ fees and other expenses. (more…)

Share Article
Print
Categories: Business Taxation
Tags: Business Tax Planning, Legal fees, Litigation, TCJA,

Categories

  • Updates & Alerts
  • Business Taxation
  • tax
  • Execs & Owners
  • Winter 2023
  • Construction Corner
  • Real Estate
  • Individual Retirement Accounts
  • Renewable Energy
  • Tax Reform
  • COVID-19
  • Summer 2022
  • Audit & Accounting Errors, Myths & Guidelines
  • Fraud
  • Fall 2021
  • Emerging Businesses
  • Summer 2021
  • Nonprofits
  • Winter 2021
  • Family Wealth & Individual Tax Planning
  • Valuation Services
  • Human Resources
  • Winter 2020
  • Fall 2019
  • Revenue Recognition
  • Summer 2019
  • Spring 2019
  • Winter 2019
  • Fall 2018
  • Summer 2018
  • Spring 2018
  • Winter 2018
  • Operations Management
  • International Business Issues
  • The Musings of our Authors

Archives

  • March 2023
  • February 2023
  • December 2022
  • November 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • August 2019
  • July 2019
  • May 2019
  • February 2019
  • December 2018
  • November 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • September 2017
  • August 2017
  • July 2017
  • May 2017
  • February 2017
  • November 2016
  • August 2016
  • June 2016
  • February 2016
  • March 2015
  • January 2015
  • September 2014
  • February 2014

subscribe:
asl advisor

Subscribe today to receive the ASL Advisor!

Sign Me Up!
Contact Us Join Our List Follow
Privacy Policy | Site Map | Design by HDSF
© 2023 Abbott, Stringham & Lynch - Silicon Valley CPA Firm - 1901 South Bascom Avenue, Suite 105, Campbell, CA 95008
Phone: 408-377-8700 - Fax: 408-377-0821 - info@aslcpa.com

Accounting | Tax | Audit | Consulting – Abbott Stringham & Lynch is a top 30 CPA firm serving San Jose, the heart of Silicon Valley and the greater Bay Area. Our experienced team offers audit, accounting, tax, valuation, and consulting services to companies and individuals. With expertise in the areas of real estate, construction, technology, nonprofit, emerging business, international, family wealth & individual, recreation and entertainment, and renewable energy. San Jose CPA – Silicon Valley CPA. Regretfully, we are unable to refund payments made through our online processing system.