• 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
    • Family Wealth & Individual Tax Planning
    • International
    • Technology
    • Nonprofit
    • Emerging Businesses
    • Manufacturing & Distribution
    • Recreation & Entertainment
    • Renewable Energy
    • Real Estate
  • 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 and Tax Updates
    • 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
    • Family Wealth & Individual Tax Planning
    • International
    • Technology
    • Nonprofit
    • Emerging Businesses
    • Manufacturing & Distribution
    • Recreation & Entertainment
    • Renewable Energy
    • Real Estate
  • 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 and Tax Updates
    • COVID-19 Articles
    • Newsletters
    • ASL Talks
    • Press Releases
    • Media
  • Careers
Search | Menu

Current Buzz

Cutting edge business wrap-up
Next
February 5, 2018

The IRS Accesses Bitcoin Transactions

By Erika Diebert, CPA, Tax Manager
ASL Technology Group

In November 2017 the IRS was successful in federal court in its quest to gain access to bitcoin transactions. They now have the records for any transaction worth more than $20,000, including exchanging bitcoins for dollars, and sending or receiving bitcoins to/from another user. The time frame of available information covers transactions between 2013 and 2015. The IRS is expecting a large number of bitcoin users to pay taxes owed on unreported transactions. We would be surprised if this was the end of the quest for information by the IRS. With 2016 and 2017 being big years for bitcoin activity, and other successful cryptocurrencies being left out of the November 2017 court order, a lot of possible unreported transactions are not covered by this subpoena.  (more…)

Share Article
Print
Categories: Winter 2018
Tags: Bitcoin, Cryptocurrencies, IRS,
February 1, 2018

For Better or Worse? Individual Taxes Under the New Tax Reform Act

By Julie Malekhedayat, CPA, Principal 
ASL Family Wealth & Individual Tax Planning Group

The most comprehensive tax law change in decades, commonly known as the Tax Cuts and Jobs Act, was signed into law on December 22, 2017. Although the corporate tax cut provisions were a highly publicized aspect of the bill, the numerous and dramatic changes to individual income tax rules will change the landscape for most taxpayers, beginning with the 2018 tax year. For some, the estate tax changes will have a material impact as well. However, as widespread as these changes are, almost all are set to last only seven years, through 2025, unless Congress acts to extend or revamp the laws before then. (more…)

Share Article
Print
Categories: Family Wealth & Individual Tax Planning, Tax Reform, Winter 2018
Tags: estate tax, Individual taxes, Tax Cuts and Jobs Act, Tax Reform,
January 30, 2018

Will Tax Reform Help My Business?

By Abe Livchitz, CPA, Senior Tax Manager
ASL Construction Group

In December, the Republican led Congress enacted the most wide ranging tax reform legislation since 1986.  Provisions will impact both personal and business tax liabilities beginning in 2018. The legislation contains changes that can both help and hurt a contractor’s bottom line. Significant provisions include: (more…)

Share Article
Print
Categories: Construction Corner, Tax Reform, Winter 2018
Tags: Abe Livchitz, C Corporations, Contractors, Tax Reform,
January 25, 2018

Captive Insurance Company Deemed Invalid by Tax Court

By Tingting Zhang, CPA, Tax Senior
ASL Tax Group

The U.S. Tax Court issued its final decision on captive insurance arrangements in Avrahami v. Commissioner, 149 T.C. No. 7 (2017). The Court held that the payments made by the Avrahamis to a micro-captive insurance company wholly-owned by Mrs. Avrahami are not insurance premiums for federal income tax purposes; therefore the deduction was not allowed for the federal income tax calculation. The captive insurance company’s elections under Section 831(b) to be treated as a small insurance company and under Section 953(d) to be taxed as a domestic corporation were also held to be invalid. This is the first Section 831(b) case that made it to trial and here is what you should know. (more…)

Share Article
Print
Categories: Winter 2018
Tags: Avrahami, Captive insurance, Tax court,
January 24, 2018

Introduction to Renewables – Part One

By Patrick Ngai, CPA, Audit Manager
ASL Renewable Energy Group

The U.S. Renewable Energy Market has been around for some time. According to the U.S. Energy Information Administration (EIA), renewable energy accounted for about 12% of total primary energy consumption and about 15% of the domestically produced electricity in the United States during 2016. Regardless of the current political climate, there is no denying that public interest in renewables is growing exponentially. (more…)

Share Article
Print
Categories: Renewable Energy, Winter 2018
Tags: greehouse gas, Patrick Ngai, renewable energy, Renewable Energy Certificate,
January 23, 2018

The New Tax Reform May Not Be Very Charitable to Nonprofits

By Helena Bouron, CPA, Senior Audit Manager
ASL Nonprofit Group

When change occurs, there are always winners and losers. With the new tax reform signed into law recently, many articles have been written about the anticipated impact these changes will have on individuals and businesses. However, the impact tax reform may have on nonprofit organizations has received limited media focus. Reform may directly impact the charitable contributions of millions of taxpayers. With tax incentives to donate most likely diminished, nonprofits may struggle to find alternative ways to replace financial support. Let’s look at these major changes that could discourage charitable giving: (more…)

Share Article
Print
Categories: Nonprofits, Winter 2018
Tags: Donations, Helena Bouron, Nonprofit Organizations, Tax Reform,

Categories

  • Updates & Alerts
  • Renewable Energy
  • Construction Corner
  • Real Estate
  • Business Taxation
  • Tax Reform
  • COVID-19
  • Summer 2022
  • Audit & Accounting Errors, Myths & Guidelines
  • Individual Retirement Accounts
  • Fraud
  • Fall 2021
  • Execs & Owners
  • 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

  • January 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.