On February 26th, Beyond Blindness hosted their 60th Anniversary Gala at the Marconi Automotive Museum in Tustin. Wright Ford Young & Co. was one of the table sponsors at the gala. The special anniversary gala was a dining in the dark experience to the attendees. It also had many other fun elements including immersive exhibits, a silent and live auction, and featured speaker Paralympic gold medalist Becca Meyers. As live entertainment, Empowering Arts performed live ensemble music for the event. Empowering Arts is a non-profit organization founded by student artists. Their goal is to positively impact the community through music
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Archives for Newsletter and Updates
Expect IRS Delays on Paper Filed Tax Returns
Hani Sharestan, CPA, MST Tax Partner In amidst of the 2021 tax season, you should expect delays from the IRS in processing paper filed tax returns that require manual processing. Based on a recent published report, the National Taxpayer Advocate said in its annual report to congress the IRS continues to experience unprecedented severe backlogs in processing paper filed tax returns that require manual processing. The report shared the following data regarding the IRS backlog of unprocessed returns and correspondence: 2 million unprocessed individual returns (Form 1040) mainly from 2020 and before; 8 million unprocessed payroll tax returns (Form
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Industry News and Newsletter and Updates.
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accountant, accountants, accounting, accounting firm, audit, business, ca, california, certified public accountants, cpa, cpa firm, firm, IRS, irvine, newsletter, oc, orange county, so cal, southern california, tax, tax filing, tax firm, tax planning, tax return, tax season, taxation, taxes, taxpayer, wfy, wright ford young, and wright ford young & co.
Update on CA Passthrough Entity Elective Tax Credit
Richard A. Huffman, CPA, MST Tax Partner The California Passthrough Entity Elective Tax Credit (CA PTE) meant for S-corporations and partnerships was initially flawed due to certain entities being excluded and the resulting California credit being limited to the tentative minimum tax base which in most cases prevented S-corporation shareholders, partnership partners, and LLC members from the intended tax benefit. The California legislators have expanded the CA PTE tax benefits by addressing these issues which has resulted in the following changes which were recently signed into law: Eliminate the tentative minimum tax limitation on the CA PTE. Allow tiered
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WFY Welcomes Ashley Sieracki to Firm
Wright Ford Young & Co. welcomed Ashley Sieracki to our WFY team in February. She will be working closely with Greg Lambourne, our Senior Planning Consultant, on Estate & Tax. WFY is excited to introduce Ashley to our team. Ashley Sieracki In the beginning of February, Ashley Sieracki joined our WFY team as a Planning Assistant. This is her first time working at an accounting firm, but she assisted Greg Lambourne with Estate & Tax planning at Brown & Streza LLP for over four years prior to WFY. Before working in Estate and Tax planning, Ashley had a career as
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New Hires Join WFY in January
In January, Wright Ford Young & Co. welcomed four new hires to our WFY team: Greg Lambourne, Ella Sanchez, Janeth Quinones, and Sam Martinez. Greg Lambourne is mainly working in our estate & trust department. Ella Sanchez, Janeth Quinones, and Sam Martinez will be joining our tax department as Tax Interns. WFY is excited to introduce these new hires to our team. Greg Lambourne In the beginning of January, Greg Lambourne joined our WFY team as a Senior Planning Consultant. He received his Juris Doctor degree from the University of Notre Dame and a degree in Economics with minors in
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Stopping CA SDI Withholding Can Help You Save
Thomas S. Kim, CPA Tax Director In California, if you are an officer and sole shareholder of a corporation, you can stop the California State Disability Insurance (SDI) withholding from your wages by making an exclusion election with the CA Employment Development Department (EDD). Depending on your wages, you can save up to $1,601.60 in 2022. For 2022 CA SDI withholding purposes, the taxable wage limit is $145,600 for each employee at 1.10%. Therefore, the maximum saving would be $1,601.60, if you qualify for this election. You can make the election by filing Form DE 459 (Sole Shareholder/Corporate Officer
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2022 Payroll Tax & Auto Mileage Rate Changes
By Bonnie Thompson Beginning January 1, 2022 the following changes go into effect for the withholding of payroll taxes and reimbursement of auto mileage. SOCIAL SECURITY The wage base for withholding social security tax has increased to $147,000. The social security tax rate will be 6.2% for both employers and employees for a maximum expense of $9114.00 For Medicare, the rate is still 1.45% each for employers and employees with no limit this year. Continuing in 2022, employees earning in excess of $200,000 will be subject to a mandatory additional 0.9% medicare tax withholding regardless of their individual tax
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Three New Hires Join WFY in December
Wright Ford Young & Co. is excited to announce we are welcoming three new hires to our WFY team. Kyle Le and Ben Vallotton-Crellin joining our tax department as Tax Senior and Tax Staff, and Hayley Thomas is joining our audit department as Audit Staff. WFY is pleased to introduce these new hires to our team. Kyle Le In the beginning of December, Kyle Le joined our tax department as Tax Senior. He graduated from Cal State Fullerton and has almost six years of tax work experience at a local CPA firm. His specialties in tax work include tax preparation
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Company News, Job Postings, and Newsletter and Updates.
accountant, accountants, accounting, accounting firm, audit, business, ca, california, careers, certified public accountants, cpa, cpa firm, firm, irvine, new hires, newsletter, oc, orange county, so cal, southern california, tax, tax firm, wfy, wright ford young, and wright ford young & co.
accountant, accountants, accounting, accounting firm, audit, business, ca, california, careers, certified public accountants, cpa, cpa firm, firm, irvine, new hires, newsletter, oc, orange county, so cal, southern california, tax, tax firm, wfy, wright ford young, and wright ford young & co.
WFY Title Sponsors Events for The Priority Center and VLI
On Monday, November 8th, Wright Ford Young & Co. was the title sponsor for two events presented by two amazing nonprofit organizations. The Priority Center hosted their 20th Annual Golf Tournament and Veterans Legal Institute hosted their Annual Lawyers for Warriors fundraising event. The Priority Center hosted their 20th Annual Golf Tournament at Dove Canyon Golf Club. Each team of participants played the 18-hole course with various contests such as longest drive and closest to the pin. After playing the course on a sunny southern California day, The Priority Center hosted an auction with multiple prizes and awarded the winners
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WFY Sponsors Events for HOPE Int. and In STEPPS Academy
In the beginning of October, WFY sponsored two events: HOPE International’s Living in Dreams and In STEPPS Academy’s Golf Classic. WFY was a Pathway Sponsor at HOPE International’s Living in Dreams Dinner and Auction on Thursday, October 7th. The event consisted of a wonderful dinner followed by silent and live auctions. HOPE International’s mission is to invest in the underserved families and communities around the world. They have equipped more than 2.2 million people in the last 24 years. They’ve helped build back homes and communities from economic shocks and emergencies and continue to do so for years to come.
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