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
Read More
Archives for wright ford young
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
Read More
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
Read More
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
Read More
Avoid Scammers: How the IRS Does and Does Not Contact Taxpayers
In order to help taxpayers avoid scams in which criminals impersonate IRS employees, IRS has issued a Fact Sheet in which it sets out the ways that it does and does not contact taxpayers. The IRS has been publishing this sheet for years to help taxpayers protect themselves from scammers and the warning signs. Below are the legitimate ways the IRS employees will contact taxpayers: IRS initiates most contacts with taxpayers through regular mail delivered by the U.S. Postal Service. However, there are special circumstances in which IRS will call or come to a home or business. Even then, taxpayers will
Read More
Newsletter and Updates.
accountants, accounting, audit, cpa, IRS, scammers, tax, tax help, taxation, taxpayers, wfy, and wright ford young.
accountants, accounting, audit, cpa, IRS, scammers, tax, tax help, taxation, taxpayers, wfy, and wright ford young.
Are you Taking Advantage of the New Tax Law Benefits?
Industry News and Newsletter and Updates.
accountant, accounting, act, benefits, ca, california, certified public accountants, cpa, cpa firm, distributors, law, manufacturers, new tax law, oc, orange county, orange county cpa, southern california, tax, tax changes, tax cut, tax firm, tax law, taxation, taxes, the act, wfy, and wright ford young.
accountant, accounting, act, benefits, ca, california, certified public accountants, cpa, cpa firm, distributors, law, manufacturers, new tax law, oc, orange county, orange county cpa, southern california, tax, tax changes, tax cut, tax firm, tax law, taxation, taxes, the act, wfy, and wright ford young.
What Is an Offer in Compromise with the IRS?
An offer in compromise can make you happy: “Oh boy, the IRS said yes, and my tax debts are over!” Or it can frustrate you. Let’s go over how to navigate the IRS settlement guidelines and see what an offer in compromise entails. Here’s the good news: An OIC can be a fresh start from your IRS debt. You no longer have to worry that the IRS will seize your wages or bank accounts. Your credit score will no longer show any tax liens against you — the IRS releases them all. IRS collections are put on hold and the
Read More
Industry News and Newsletter and Updates.
accountant, accounting, bankrupt, compromise, cpa, cpa firm, debt, firm, IRS, oic, tax, taxation, wfy, and wright ford young.
accountant, accounting, bankrupt, compromise, cpa, cpa firm, debt, firm, IRS, oic, tax, taxation, wfy, and wright ford young.
Earn Money from California’s Training Subsidy Program
It’s Free Money, and We Can Help You Get Your Share Do you provide formal training for your employees? Exciting news: The government wants to chip in. Yes, really. In fact, for the past 35 years the State of California has provided over $1.5 billion in training subsidies to California businesses. Smaller companies can receive up to $50,000 per year and larger companies can receive up to $375,000 per year. Never heard of this program? You’re not alone. The funding comes from a tax that every for-profit company in the state pays, the Employment Training Tax. This tax generates over
Read More
Federal Tax Depreciation Guidelines
Individual Tax Law Changes
Newsletter and Updates.
accountants, accounting, assets, bill, changes, contribution, deductible, individual, law, tax, taxation, trump, wfy, and wright ford young.
accountants, accounting, assets, bill, changes, contribution, deductible, individual, law, tax, taxation, trump, wfy, and wright ford young.