Our managing partner, Michael Kaplan, CPA, was recognized among the Los Angeles Business Journal‘s LA500, which celebrates the city’s most influential leaders and executives.
Recent reports have raised anew concerns about the impending insolvency of the Social Security program, absent congressional action. Social Security reform has long been considered a “third rail” of American politics and understandably so — the options for heading off insolvency will inevitably cause pain for significant segments of the population. Yet some in Congress […]
Are you getting ready to retire? If so, you’ll soon experience changes in your lifestyle and income sources that may have numerous tax implications. Here’s a brief rundown of four tax and financial issues you may contend with when you retire: Taking required minimum distributions. These are the minimum amounts you must withdraw from your […]
Traditional business models in many sectors have been disrupted by the COVID-19 pandemic, geopolitical uncertainty, rising costs and falling consumer confidence. If your company is planning a major strategic shift this year, management may need to comply with the updated accounting rules for reporting discontinued operations that went into effect in 2015. Discontinued operations typically […]
You may think you don’t need to make any estate planning moves because of the generous federal estate tax exemption of $12.92 million for 2023 (effectively $25.84 million if you’re married). However, if you have significant assets, you should consider establishing a living trust to avoid probate. Probate is a court-supervised legal process intended to […]
Private companies can breathe a sigh of relief: The Financial Accounting Standards Board (FASB) and the Private Company Council have agreed to give them a pass on a coming proposal that, if approved, would require expanded footnote disclosures about expenses. The reason for the exemption is that the projected costs of complying with the proposal […]
Financial statements are central to understanding any business. A public company’s balance sheet, income statement and cash flow statement enable investors, lenders, the media and other stakeholders to value the company, forecast short- and long-term performance, and determine potential credit risk, among other purposes. To ensure analysis of a company is accurate and insightful, financial […]
President Biden has signed into law the new debt ceiling agreement that he reached with U.S. House of Representatives Speaker Kevin McCarthy (R-CA). The Fiscal Responsibility Act (FRA) suspends — as opposed to raising — the debt ceiling until 2025, after the next presidential election. The FRA also makes a variety of changes related to […]
by Marijane Kantzabedian, CPA; David Lam, CISSP, CPP; and Jun Wang, CPA, MST | Check out the Startup Solutions series The rapid advancement of technology, automation, artificial intelligence (AI), and machine learning have undoubtedly transformed the way we work and conduct business. From audits to protecting data to incentivizing employees, organizations are embracing technological solutions to […]
by Jun Wang, CPA, MST | Check out the Startup Solutions series In today’s fast-paced business landscape, startups are constantly striving to push the boundaries of innovation. To support their efforts and fuel their growth, the federal government provides research and development (R&D) credits as a valuable incentive. These credits offer startups and small businesses a […]
by David Lam, CISSP, CPP | Check out the Startup Solutions series As a startup organization, minimum security measures—or rather, commercially reasonable levels— are crucial to integrate to protect data and secure systems from any potential vulnerabilities. Although securing information is a journey and not a destination, to achieve these minimum levels, you’ll want to ensure […]
by Marijane Kantzabedian, CPA | Check out the Startup Solutions series For tech startups, securing funding through venture capitalists is a go-to strategy. Being prepared for what comes next may be less obvious, though. Venture capitalist (VC) firms investigate startups from the ground up. As a firm seeks opportunities for potential investment, each facet of the […]