Archives for accountants

Making Large Gifts Now Won’t Harm Estates After 2025

November 29, 2018 | by | Comments Off on Making Large Gifts Now Won’t Harm Estates After 2025

On November 20th, the IRS announced individuals taking advantage of the increased gift and estate tax exclusion amounts in effect from 2018 to 2025 will not be adversely impacted after 2025 when the exclusion amount is scheduled to drop to levels before 2018. The Treasury Department and the IRS issued proposed regulations which implement changes made by the 2017 Tax Cuts and Jobs Act (TCJA).  As a result, individuals planning to make large gifts between 2018 and 2025 can do so without concern that they will lose the tax benefit of the higher exclusion level once it decreases after 2025.
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Categories: Industry News and Newsletter and Updates.
Tags: accountant, accountants, accounting, audit, business, ca, california, certified public accountants, cpa, cpa firm, deduction, estate, estate and trusts, estates, exclusion, firm, IRS, tax, tax firm, tax reform, taxation, taxes, TCJA, trusts, wfy, wright ford young, and wright ford young & co.

Tax Saving Moves to Improve Your Tax Situation

November 29, 2018 | by | Comments Off on Tax Saving Moves to Improve Your Tax Situation

Since 2018 is coming to a close now is the time to take action to proactively reduce your tax liability before the new year.  Included are a few strategies that may help with your tax situation: Harvest stock losses while substantially preserving one’s investment position. This can be accomplished by selling the shares and buying other shares in the same company or another company in the same industry to replace them, or by selling the original shares, then buying back the same securities at least 31 days later. Apply a bunching strategy to deductible contributions and/or payments of medical expenses. Beginning
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Categories: Industry News and Newsletter and Updates.
Tags: accountant, accountants, accounting, audit, ca, california, certified public accountants, contributions, cpa, cpa firm, deduction, distributions, gifts, ira, qcd, rmd, stock, tax, tax firm, tax specialists, taxation, taxes, wfy, wright ford young, and wright ford young & co.

WFY Welcomes New Partner Cyndi LeBerthon

November 1, 2018 | by | Comments Off on WFY Welcomes New Partner Cyndi LeBerthon

Wright Ford Young & Co. would like to welcome our newest addition to the firm: Cyndi LeBerthon, CPA.  With more than 15 years of public accounting experience, Cyndi has joined WFY as Partner in the Audit Department. Cyndi is responsible for planning and supervising audit and review engagements in a wide range of industries, including distribution, manufacturing, professional service, technology and hospitality.  Having extensive experience in Employee Benefit Plan audits and ERISA regulations, she also works with plan sponsors in private and public sectors performing annual DOL required audits of their 401(k), 403(b), ESOP, and Pension and Welfare Benefit Plans.
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Categories: Newsletter and Updates.
Tags: accountants, accounting, audit, benefit plans, cpa, cpa firm, cyndi leberthon, dol, esop, firm, news, partner, tax, tax firm, taxation, wfy, wright ford young, and wright ford young & co.

WFY is Hiring

October 24, 2018 | by | Comments Off on WFY is Hiring

Wright Ford Young & Co. is seeking qualified candidates to join our growing team! We are hiring hard-working, dedicated people who are willing to learn and flourish in their careers.  Full-time positions are available for the following departments: Tax Department Staff Preparer Estates & Trusts Department Senior Supervisor Manager Audit Department Staff If interested in any of the positions above, please go to our Careers page or directly contact the following: Tax Department: Richard Huffman, rhuffman@cpa-wfy.com Estates & Trusts Department: Marisa Alvarado, malvarado@cpa-wfy.com Audit Department: Jeff Myers, jmyers@cpa-wfy.com    
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Categories: Newsletter and Updates.
Tags: accountants, accounting, accounting firm, audit, cpa, cpa firm, department, estates, estates & trusts, hiring, manager, positions, senior, staff, supervisor, tax, taxation, trusts, wfy, wright ford young, and wright ford young & co.

WFY Sponsors Veterans Legal Institute’s American Patriots Ball

October 3, 2018 | by | Comments Off on WFY Sponsors Veterans Legal Institute’s American Patriots Ball

On Saturday, September 22nd, some of Wright Ford Young & Co.’s Partners attended Veterans Legal Institute’s The American Patriots Ball, an event honoring and celebrating veteran empowerment.  Veterans Legal Institute is an organization that provides pro bono legal assistance to homeless, at risk, disabled and low income current and former service members. The Ball included hundreds of community and business leaders that gathered on Saturday which featured dancing, dining, and a live auction. Not only did WFY sponsor the event, they also commended the following honorees and organizations: Philip V. Brozenick for Veteran of the Year, Rochelle Karr for Veteran
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Categories: Newsletter and Updates.
Tags: accountants, accounting, american patriots ball, ca, certified public accountants, cpa, irvine, orange county, southern california cpa, tax, taxation, veterans, veterans legal institute, wfy, and wright ford young.

Landmark SCOTUS Decision on Sales Tax Collection Requirements

August 8, 2018 | by | Comments Off on Landmark SCOTUS Decision on Sales Tax Collection Requirements

The U.S. Supreme Court recently issued a ruling that could have a dramatic impact on American retailers, and not only those who primarily operate on the Internet.  In what has been called the Wayfair sales tax case, the court on June 21, 2 018 said that states can impose sales taxes on businesses even if they do not have a physical presence in the state. The ruling effectively overturns Quill Corp. v. North Dakota, which was a Supreme Court decision handed down in 1992.  In that case, the court said that the Commerce Clause in the U.S. Constitution forbids states from imposing sales tax
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Categories: Industry News.
Tags: accountants, accounting, certified public accountants, cpa, cpa firm, sales tax, sales tax collection, sales tax collection requirements, scotus, tax, taxation, taxes, wfy, and wright ford young.

California Competes Tax Credit

July 25, 2018 | by | Comments Off on California Competes Tax Credit

The California Competes Tax Credit is an income tax credit for businesses wanting to stay and grow in California. The purpose is to attract and retain employers in California industries with high economic multipliers and that provide their employees good wages and benefits. Any business can apply. The credit applies to any type of business expecting to increase headcount and/or make a capital investment in California.  Businesses compete for these tax credits by asking for a percentage return on investment. California plans to grant $230 Million in Cal Competes tax credits to California businesses over three separate application rounds in
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Categories: Industry News and Newsletter and Updates.
Tags: accountants, accounting, california, california competes, california competes tax credit, certified public accountants, cpa, cpa firm, credit, income tax, income tax credits, roi, tax, tax credit, tax credits, tax firm, taxation, wfy, and wright ford young.

WFY Expands Firm with Three New Hires

July 24, 2018 | by | Comments Off on WFY Expands Firm with Three New Hires

Wright Ford Young & Co. continues to grow the firm with three new hires: Andrew Abeyta, Cameron Lee, and Jennifer Nguyen.  All three are the newest additions to WFY’s Tax Department.  WFY is pleased to welcome these new hires to the WFY team. Andrew Abeyta In the beginning of July, Wright Ford Young & Co. welcomed Andrew Abeyta as Tax Staff. He graduated from Cal State Fullerton in 2016 and jumped into public accounting straight after that. Andrew’s previous experience in accounting includes working at another CPA firm after college. In his spare time, he’s passionate about photography and teaches 5th
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Categories: Newsletter and Updates.
Tags: accountants, accounting, cpa, cpa firm, growth, new, new hires, new staff, tax, tax department, tax firm, taxation, wfy, and wright ford young.

IRS To Issue More ACA Penalties

June 26, 2018 | by | Comments Off on IRS To Issue More ACA Penalties

The IRS began issuing Affordable Care Act (ACA) penalty assessments in its Letter 226J tax notice in November 2017. These notices are being sent to employers who the IRS identified through its recently developed Affordable Care Act Compliance Validation System “ACV” System, as having failed to comply with the ACA’s employer mandate.  So far, the IRS has issued more than 30,000 of these notices containing employer shared responsibility payments (ESRPs) assessments of more than $4.4 billion. Under the ACA, organizations with 50 or more full-time employees and full-time equivalent employees, are required to offer minimum essential coverage to at least
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Categories: Industry News and Newsletter and Updates.
Tags: aca, accountants, accounting, affordable care act, audit, certified public accountants, cpa, esrp, IRS, penalties, tax, taxation, tigta, wfy, and wright ford young.

WFY Continues to Grow Firm with New Hires

June 26, 2018 | by | Comments Off on WFY Continues to Grow Firm with New Hires

Wright Ford Young continues to grow the firm with four new hires: Marisa Alvarado, Nicholas Valdez, Collin Sidler, and Cameron Bauer.  Marisa and Nicholas are the newest additions to WFY’s Estates & Trusts Department while Collin and Cameron are the newest additions to the Audit Department.  WFY is pleased to welcome these new hires to the WFY team. Marisa Alvarado Wright For Young & Co. welcomed Marisa Alvarado as its Estates & Trusts Tax Partner in June. Marisa has over 30 years of experience in public accounting with the last 20 years in High Net Worth Advanced Estate Planning. She has worked
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Categories: Newsletter and Updates.
Tags: accountants, accounting, audit, audit staff, certified public accountants, cpa, department, employees, estates, new hires, tax staff, taxation, trusts, wfy, and wright ford young.