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CPAs Talk Tech Biz

A blog for the owners, founders, and executives of privately held technology companies.
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By ASL Guest
•
February 3, 2020

Planning for the Unexpected

By Patrick Ngai, CPA, Audit Manager

Proactive and careful planning is an essential part of managing a successful Silicon Valley business. Executives often spend the closing months of the year engaged in a comprehensive analysis of business performance and identifying future goals and benchmarks. Typically, this process includes a close look at sales numbers, account management, production timelines, new service/product innovation and budgeting. In addition, time is spent reviewing department performance, conducting individual employee reviews and determining whether it is time to bring additional resources to the table. While all of these are necessary tasks to maintain the vitality of a business, it is important to also dedicate time to planning for the unexpected. Businesses in California need to operate against the backdrop of natural disasters such as earthquakes and wildfires. For this reason, it is imperative to have a disaster recovery plan in place should the unexpected occur. Below is a summary of key planning issues to consider. (more…)

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Categories: The Musings of our Authors
Tags: Cyber security, Disaster recovery planning, Insurance protection, Natural disasters, Patrick Ngai,
By ASL Guest
•
December 16, 2019

2019 Technology Round Up

By Patrick Ngai, CPA, Audit Manager

Here we are, well into the month of December 2019.  It seems like almost yesterday when I wrote the article, Top Tech Trends in 2018.  As they say, time waits for absolutely nobody.  As we prepare to say goodbye to the 2010s as a decade, I would like to take a minute to summarize five technology trends from the past twelve months. (more…)

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Categories: The Musings of our Authors
Tags: Facial recognition, IoT devices, Patrick Ngai, Security breaches, Technology trends, WeWork,
By ASL Guest
•
February 6, 2019

ASC 842 - Leases, the OTHER New ASC

By Patrick Ngai, CPA, Audit Manager
ASL Technology Group

When ASC 842 – Leases (“ASC 842”) was first published in 2016, the effective date for non-public entities was scheduled for 2020.  The date seemed so far away that most people took the, “we will cross that bridge when we come to it” approach.  To be fair, most people were too concerned about the new revenue recognition standard (ASC 606) to worry about anything else.  (more…)

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Categories: The Musings of our Authors, Updates & Alerts, Winter 2019
Tags: ASC 842, Lease Accounting, Leasing Standard, Patrick Ngai,
By ASL Guest
•
December 19, 2018

Top Tech Trends in 2018

By Patrick Ngai, CPA, Audit Manager

About two years ago, I took on a bigger role within the ASL tech group.  On a weekly basis, I scour the internet and look for news and articles that highlight the various subsectors of the technology world.  As we are approaching the end of 2018, I would like to share with you five (plus one bonus) articles that I found the most intriguing.  (more…)

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Categories: The Musings of our Authors
Tags: Artificial Intelligence, Cryptocurrencies, Internet of Things, Patrick Ngai,
By ASL Guest
•
November 12, 2018

Corporations Are Expanding Globally, Without Leaving the US

By Sylvia Chan, CPA, Tax Manager

The Tax Cut and Jobs Act (TCJA), P.L. 115-97 enacted in December 2017 has brought about exciting changes to the tax world.  I would like to draw your attention to a provision that was written specifically to encourage U.S. companies to expand their operations globally without leaving the United States.  Some technology companies have moved their intangible assets offshore to low-income tax jurisdictions and shifted the related income outside the United States.  While tax-avoidance may not always be the primary motive, it was an inevitable truth that the U.S. Treasury was losing a portion of its revenue due to this income shifting tactic.  (more…)

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Categories: Fall 2018, Updates & Alerts
Tags: FDII, Foreign Derived Intangible Income, GILTI, Global Intangible Low-Taxed Income,
By ASL Guest
•
September 12, 2018

GDPR: Controllers, Processors and the Subject (That’s You!)

By Danny Stumpf, IT Manager

Today, most companies rely on partnerships and subcontractors to deliver their services: marketing consultants, bill collectors, diagnostic labs, and so on. It may surprise you to learn how many different parties are involved in something as simple as buying a cup of coffee. Not only is your transaction recorded by the coffee shop, merchant provider, and ultimately your credit card company, but it is likely at least one of these will archive the purchase in a system maintained by another organization (such as a third-party data warehouse). (more…)

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Categories: GDPR, Updates & Alerts
Tags: Controllers, GDPR, Processors,
By ASL Guest
•
August 28, 2018

What Can You Do to Prevent Identity Theft Online?

By Guest Blogger: Ed Correia, Founder of Sagacent Technologies

The majority of us are online regularly and during these interactions, businesses collect vast amounts of data about their clients. Your business gathers multiple pieces of information, such as birthdays, addresses, and purchasing preferences, not to mention credit card and other billing records. Right there, you now have all the information a hacker would need for identity theft. Not only does it cost your clients, but it costs businesses globally around $221 billion a year. (more…)

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Categories: Updates & Alerts
Tags: Data Destruction Policy, Data Protection, Identity Theft, Identity Theft Prevention,
By ASL Guest
•
August 15, 2018

Payroll Withholding Confusion – Are You Withholding Enough from Your Paycheck?

By Sheila Foley, Accounting Consultant 

The Tax Cuts and Jobs Act was enacted in late December, 2017 and it significantly altered the tax laws applicable to individual taxpayers. The significant changes included: reduction in tax rates and modification of brackets, increase in the standard deduction, repeal of personal exemptions, limitation on deductions for state and local taxes, mortgage interest, home equity loan interest and elimination of deduction for miscellaneous itemized deductions. (more…)

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Categories: Tax Reform, The Musings of our Authors, Updates & Alerts
Tags: Payroll withholding, Tax Cuts and Jobs Act, Taxpayers, Withholding Calculator,
By ASL Guest
•
July 3, 2018

GDPR, What It Means for Your Marketing List

By Sarah Renard, Senior Marketing Coordinator

It’s that time again, to send your monthly or quarterly company e-newsletter to your list of hundreds, if not thousands of subscribers. So you go through your routine of adding new clients/prospects/contacts since your last e-mail blast to your existing list, build your newsletter and click ‘send’ then move on to your next ‘to do list’ item. Unfortunately, the recent GDPR regulations may cause a hiccup in your routine. (more…)

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Categories: GDPR, The Musings of our Authors
Tags: European union, GDPR, Lawful basis, Marketing lists,
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