Wright Ford Young & Co. is pleased to announce Byron Culp as our new Director of Business Development. Byron Culp joined Wright Ford Young & Co. in January of 2024 and has been providing his financial expertise for more than two decades. Byron provides financial guidance and solutions throughout the Orange County marketplace, with the personal mission of helping local companies grow. Targeted industries and businesses include wholesalers, distributors, manufacturers, importers/exporters, professional services, medical, waste management, and non-profit organizations, to name a few. Beyond his professional commitments, Byron is deeply involved in community service, serving on the Board of Directors
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Archives for Company News
WFY Announces Nancy Van Lanen as New Estates & Trusts Tax Partner
Wright Ford Young & Co. is pleased to announce Nancy Van Lanen as our new Estates & Trusts Tax Partner. The firm provides tax, audit, estate & trust, and business consulting services to closely held companies, private foundations, family-owned businesses, and high net worth individuals. Nancy Van Lanen joined Wright Ford Young & Co. in November of 2020 as the Estates & Trusts Tax Director. Nancy has over 20 years of experience in tax compliance. She has extensive expertise providing high net worth clients and business owners with tax consulting, planning, and compliance for trusts, estates, and gifting. Prior to
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ASU 2016-13 Current Expected Credit Loss Effective for Private Companies in 2023
Carissa DeLuca, CPA, CFE Audit Manager ASU 2016-13 Financial Instruments-Credit Losses, which covers the Current Expected Credit Loss model (also known as CECL), is effective for private companies for years beginning after 12/15/2022. The accounting standard is not just applicable to mortgage banks, but can also impact trade receivables, loan receivables and reinsurance receivables and more for companies in all industries. Previously, US GAAP required an “incurred loss” methodology for credit losses and loss recognition once probable. Under the old method, historic loss percentages were a common and appropriate method of measurement of credit losses. CECL will require
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Decoding the Menu: Navigating Meals Expenses Tax Deductibility in 2023 – 50% vs. 100%
As 2023 unfolds, it’s crucial for business owners and professionals to understand the ever-evolving landscape of tax regulations, especially when it comes to meal expenses. The deductibility of these expenses can significantly impact your bottom line. In this blog post, we’ll delve into the specifics of meals expenses tax deductibility for 2023, distinguishing between the 50% and 100% deduction rules, and offering insights to help you make informed financial decisions. The 0% Deduction Rule: Treating clients to an entertainment event, such as concert tickets, sports games, etc., are now 0% deductible since this came into effect with the 2018
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WFY’s Tax Department Welcomes Two New Hires
In the beginning of December, we welcomed two new hires to our tax department: Mary Sidhum and Matthew Herrera. WFY is pleased to have Mary and Matthew join our growing firm. Welcome to the WFY team! Mary Sidhum Mary Sidhum started with WFY in the beginning of December as our newest Tax Director. Mary has a Bachelor’s degree in Accounting and continued her education by receiving her Master’s degree in Taxation from Golden State University. After receiving her degrees, Mary has worked in public accounting for over 15 years. Outside of the office, Mary enjoys hiking, traveling, watching her
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Audit Partner Jennifer Haddad Featured in Manage HR Magazine
Our Audit Partner, Jennifer Haddad, was featured in Manage HR Magazine’s November 2023 ESOP Edition. In this article, Jennifer discusses how WFY navigates the complexities of ESOPs and what’s right for your business. In addition to Jennifer’s discussion, WFY was also named one of the Top 10 ESOP Services Providers of 2023 for Manage HR Magazine. To read the full article, go to https://www.managehrmagazine.com/wright-ford-young-co Wright Ford Young & Co. is headquartered in Irvine, CA and is the largest single office CPA firm in Orange County. WFY is a full service corporate accounting firm offering audit, tax, estate and
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New Audit Senior Joins WFY’s Audit Department
This month, Wright Ford Young & Co. had the pleasure to welcome a new Audit Senior to our firm: Diana Bocanegra. Welcome to the WFY team! Diana Bocanegra Diana Bocanegra graduated from Cal State University, Los Angeles, and started working in a small accounting firm. Initially, she worked in taxation for a year before moving to audit. After moving to audit, Diana worked at RSM for nearly six years and her career flourished. Diana enjoys spending time with her family, friends, and her three dogs in her free time outside of the office. Interested in joining WFY in one of
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WFY Celebrates 50 Years by Donating to Others
by Chanelle Bossert Director of Marketing In August, Wright Ford Young & Co. celebrated 50 years of service among clients, friends, and colleagues. Over 200 guests joined the celebration which included casino games, music, an array of hors d’ oeuvres, and many laughs shared among friends in the local business community. To commemorate their 50 years of service, Wright Ford Young & Co. committed to donating $50,000 to local charities on behalf of the six raffle winners who participated in the casino games. Each winner had the opportunity to direct their winnings to a local charity of their choice.
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New Hires Join WFY’s Tax and Audit Departments
In July, Wright Ford Young & Co. welcomed five new hires to our audit department and tax department. Shane Kuhlman, Angela Manaloto, Joshua Salinas, and Devin Huffman joined our tax department while Andrew Wakefield joined our audit department. We are excited to have these new additions to our growing firm. Welcome to the WFY team! Shane Kuhlman In July, Shane Kuhlman joined WFY’s tax department as one of our three Tax Interns. Shane recently graduated from CSU Fullerton with his degree in Business Administration with an emphasis on Accounting. This is his first internship in his accounting career and he’s
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WFY Welcomes New Hires in May and June
Wright Ford Young & Co. welcomes three new hires to our tax department and administrative department. Ricardo Tornero and Michelle Huh joined our tax department and Yesenia Alvarez joined our administrative department. We are thrilled to welcome these new hires join the WFY team. Ricardo Tornero In May, Ricardo Tornero joined the firm as a Tax Senior in our tax department. He graduated from CSU Fullerton with his Bachelor’s degree in Accounting. Before coming to WFY, Ricardo has been working in the public accounting industry since 2015. Ricardo loves traveling when he can and trying new and exciting food. Michelle
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