By Rachel Gillespie, Senior Tax Manager
The California Franchise Tax Board will be sending out between 10,000 and 50,000 travel and entertainment audit notices for the 2011 and 2012 tax years. This is another reminder to always keep your receipts!
In the event you are audited, the best thing you can do is be prepared! Stay current with your documentation and avoid problematic audits by remembering to…
By Carol Wagner, Principal
With its purpose to provide health care for all individuals, the Affordable Care Act is an interesting blend of health insurance benefits, payroll considerations, and tax implications – the perfect storm for businesses. Companies can turn to professional service advisors to help weather this storm, including payroll service providers, health insurance brokers, and their tax professionals.
By Mark Sheffield, Principal
Entrepreneurs of the past wrote a long business plan, developed a product over one or two years, and hoped they could sell it. Today, because change is so rapid, flexi-planning is the best practice. This is called pivoting, which is evaluating and changing strategies and tactics every three months as necessary.
By Julie Malekhedayat, Principal
Trusts are a fundamental part of most estate plans — do you have one? Do you need one? If you do have one, do its provisions create even more trusts at your death? And if so, are they still a good idea?
Most everyone with assets will benefit by holding those assets in a revocable trust, commonly known as a living trust. Living trusts allow your heirs to transfer your assets after your death according to your wishes as outlined in the trust document, without the need for probate court oversight and approval. As the name implies, a revocable trust can be changed or completely revoked at any time before your death. It will also maintain your privacy at your death, whereas probate court proceedings are public information.
By Michael McAndrews, Principal
This quarter we are focusing on:
