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MANUFACTURING, RETAIL & DISTRIBUTION

 

 

In the manufacturing, retail and distribution industries, there are plenty of risks and issues businesses have to overcome. We provide help in many different areas, such as reporting, consulting, accounting, and compliance. We want you to be able to stay primed for growth without being bogged down with the financial side of your business.  

Advance Child Tax Credit

Advance Child Tax Credit information: What you need to know    The IRS created a Child Tax Credit Update Portal, it is a password-protected tool available to everyone with internet access from any device. You may check on your eligibility, payment status, or unenroll from this benefit. If you have an existing IRS account, you

Proposed Tax Relief Bills for California

Proposed Tax Relief Bills for California     California’s Governor is expected to sign several tax-related and stimulus bills that the California General Assembly sent to him.  SB 139 will authorize a second Golden State Stimulus payment up to $1,100 per California taxpayer with an AGI of $75,000 or less. How much qualifying taxpayers will receive

Outsourcing Your CFO 

Why Do So Many Businesses Use Outsourced CFO?       There are many benefits to outsourcing the Chief Financial Officer (CFO) role, especially if you own a small business. An outsourced CFO ensures you are getting the same expertise from a CFO even if you may not have the financial resources to retain or support

Preparing Your Business for Recessions 

Preparing Your Business for Recessions      We all know that recessions will come in a matter of time, and no business has immunity from an economic downturn as we have seen with the recent COVID-19 pandemic. As our economy begins to improve, here are six strategies you can implement into your business model or plan to

California's Partial PPP Conformity Bill

California’s Partial PPP Conformity Bill    On April 29, 2021, Governor Newsom signed into law Assembly Bill No. 80 (“AB 80”), providing partial conformity to the Federal tax treatment for deducting expenses paid with Paycheck Protection Program (“PPP”) loans, EIDL advance, and targeted grants. Below are some of the key highlights of the bill’s provisions:

Deducting Meals and Entertainment Expenses

Deducting Meals and Entertainment Expenses    While the Tax Cuts and Jobs Act (TCJA) of 2017 eliminated many deductions for business meals and entertainment, there are still some deductions available. Most of the deductions are in the form of business meals, but there are select exceptions of when a business can also deduct entertainment expenses.  

How to Handle a Self-Directed IRA

How to Handle a Self-Directed IRA    Traditional and Roth IRAs are great tools to use for financial, estate, and retirement planning. One way individuals “turbocharge” their IRA’s performance is to use a self-directed IRA, which is able to hold alternative investments that offer potentially higher returns. Although this is a useful feature, there could be some

Update- California PPP Tax Conformity

Update- California PPP Tax Conformity    Although it is no secret that California has yet to release information on whether or not it will partially conform state tax code to the current federal tax rules regarding forgiven Paycheck Protection Program (PPP) loans, CalCPA has shared why the delay is taking place.