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January 21, 2018

Tax Reform Has Wide Ranging Impact

President Trump’s campaign promise of major tax reform was fulfilled on Dec 22nd when he signed H.R. 1 that had been quickly pushed through Congress. This legislation is the most widespread change to our tax system since 1986. It will have a significant impact on individuals, business entities, choice of corporate structures and multi-national businesses. The implementation of some of the changes is subject to varying interpretations so we are anxiously awaiting further guidance from the IRS. (more…)

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Categories: News, Tax Reform, Updates & Alerts
Tags: House Tax Reform Bill, San Jose CPA, Senate Tax Reform Bill, Tax Reform,
November 16, 2017

Revenue Recognition Standard and Timeline

By Deepa Bhat, CPA, Principal & Carol Wagner, CPA, Principal
ASL Assurance & Accounting

No time like the present to prepare a game plan for the new revenue recognition standard. To ensure a smooth transition from your current approach, be sure to explore all available resources, read and review practical guidance to understand how these new standards affect your business practices and then develop your implementation strategy. A brief overview of this process is outlined here:

Revenue Recognition Standard and Timeline

 

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Categories: Fall 2017, Revenue Recognition
Tags: Deepa Bhat, Implementation Timeline, Revenue Recognition Standard, San Jose CPA,
September 1, 2017

Common Legal Pitfalls and Legal Issues Affecting Start-Ups Today

Mital Makadia and David Siegel, Partners at Grellas Shah LLP, spoke at the ASL Emerging Business Group’s best practices seminar on the topic, “Common Legal Pitfalls and Legal Issues Affecting Start-Ups Today.” In this podcast, Mital and David share the most important aspects of employment law, intellectual property, and entity selection for start-ups today. To watch the whole seminar, please visit our YouTube page: ASL YouTube – Common Legal Pitfalls Affecting Start-Ups Today

https://www.aslcpa.com/wp-content/uploads/2017/08/Legal-Pitfalls-Founders-Pit-Crew_8.2017.mp3
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Categories: Uncategorized
Tags: Common Legal Start Up Pitfalls, Employment Law, San Jose CPA,
May 31, 2017

California, Surprise...Your Subcontractors Are Your Employees!

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

The issues related to proper worker classification impact many businesses, including contractors. The rules are often unclear and their application is based on each employer’s specific facts and circumstances. An Internal Revenue Service or California Employment Development Department audit resulting in the reclassification of workers can have a significant bottom line impact. As a result, it is important to correctly determine if your workers are employees or independent contractors. (more…)

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Categories: Construction Corner, Spring 2017
Tags: Abe Livchitz, Construction Contractor, San Jose CPA, worker classification,
September 13, 2016

Stop Giving Away Your Equity: How Emerging Businesses Can Get Alternative Financing

Joe Monte, the owner of TB Business Finance, spoke at the ASL Emerging Business Group’s best practices seminar on, “Stop Giving Away Your Equity: How Emerging Businesses Can Get Alternative Financing.” In this podcast, Joe shared his advice for startups on how he can help a small business with a loan. To hear more, listen to the podcast below.

https://www.aslcpa.com/wp-content/uploads/2016/09/Joe-Monte.mp3
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Categories: Uncategorized
Tags: Alternative Financing, San Jose CPA, Stop Giving Away Equity,
August 24, 2016

California Tax Reform Could Have International Tax Implications

By Sylvia Chan, Tax Senior

There has been much discussion about restructuring the California Tax System. Currently, California relies significantly on personal income tax collection to fund its state expenditures.  Tax revenue based on personal income relies heavily on the unpredictability of capital gains which makes it impossible to forecast the state’s future revenue. This puts California in a very vulnerable situation should the stock market collapse, creating an abrupt shortfall in the State budget. Most people would agree that the California tax system is outdated, unfair, unreliable and long overdue for tax reform. (more…)

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Categories: International Business Issues
Tags: San Jose CPA, Tax Haven Provision,
May 19, 2016

Using Innovation to Grow Your Emerging Business

Amie Gray, CEO of N³ Innovation, spoke at the ASL Emerging Business Group’s best practices seminar on, “Using Innovation to Grow Your Emerging Business.” In this podcast, Amie shared that innovation sustains your business and to do research to plan for what your market will look like in three to five years out. Take a listen to hear more about what Amie shares in this mini podcast.

https://www.aslcpa.com/wp-content/uploads/2016/05/AmieGray.mp3
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Categories: Uncategorized
Tags: Growth Through Innovation, N³ Innovation, San Jose CPA,
March 17, 2016

Google defends tax settlement with the U.K.

Google executives recently defended the company’s tax settlement with the United Kingdom to a select committee of the British House of Commons.

The appearance before the panel followed news of a deal the company struck with the U.K. under which it will pay £130 million ($186 million) in back taxes. British tax authorities said the amount is over and above the tax that Google would have paid for past years (or would pay for the current period). (more…)

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Categories: International Business Issues
Tags: Google Tax Settlement, San Jose CPA, UK Tax Settlement,
February 23, 2016

China Broadens Scope Of Super R&D Deduction

China has widened the number of qualifying research and development (R&D) costs that are eligible for a super deduction for Chinese corporate income tax purposes.

The country released Circular 119, which would allow Chinese resident enterprises to retroactively deduct qualifying R&D expenses incurred over the past three years, among other things. The information in the guidance is part of China’s continuing efforts to strengthen and encourage R&D innovation and development strategies. (more…)

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Categories: International Business Issues
Tags: R&D Deduction, Retroactive Deduction, San Jose CPA,
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