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So far Thomson Reuters has created 336 blog entries.

What is Fair Value?

In recent years, the accounting rules for certain balance sheet items have transitioned from historical cost to “fair value measurements.” Examples of assets that may currently be reported at fair value are asset retirement obligations, derivatives and intangible assets [...]

By |2021-05-14T14:05:39-04:00May 14th, 2021|Categories: Audit, Blog|Tags: , , |0 Comments

California Gas Tax Changes

New excise tax rates on gasoline and diesel fuel are announced for California. The CA Dept. of Tax and Fee Administration (CDTFA) announced that the adjusted excise tax rates for gasoline (motor vehicle fuel) and diesel fuel for the [...]

By |2021-05-12T13:07:56-04:00May 13th, 2021|Categories: Blog, California, SALT, Tax|Comments Off on California Gas Tax Changes

Employers Must Rehire COVID-19 Layoffs in these Industries

California Governor Gavin Newsom signed “Right to Recall Legislation for Certain Industries.” This statewide policy affects employers in the hospitality and business services industries, including hotels, airports and large event centers. Employers must offer to rehire qualified former employees [...]

By |2021-05-12T12:56:01-04:00May 12th, 2021|Categories: Blog, California, SALT, Tax, Uncategorized|Comments Off on Employers Must Rehire COVID-19 Layoffs in these Industries

Classifying Contractors and Employees

Many businesses use independent contractors to help keep their costs down. If you’re among them, make sure that these workers are properly classified for federal tax purposes. If the IRS reclassifies them as employees, it can be a costly [...]

By |2021-05-10T13:14:21-04:00May 10th, 2021|Categories: Blog, Tax|Tags: , , , |Comments Off on Classifying Contractors and Employees

Receivables May Be a Source of Cash in Tough Times

Many companies are continuing to struggle financially during the COVID-19 pandemic. If cash is tight, what can your business do to shorten its cash cycle? The answer could lie in your outstanding accounts receivable. Here are five strategies to [...]

By |2021-05-07T12:27:57-04:00May 7th, 2021|Categories: Audit, Blog|Comments Off on Receivables May Be a Source of Cash in Tough Times

California Tax Payment Plans

Do you owe California personal income tax that you can’t pay? The CA Franchise Tax Board encourages you to pay as much as you can to limit late payment penalties and interest and to prevent collection actions. If you [...]

By |2021-05-05T13:37:08-04:00May 6th, 2021|Categories: Blog, California, SALT, Tax|Comments Off on California Tax Payment Plans

The Biden Administration Proposes Far-Reaching Tax Overhaul

President Biden recently announced his $1.8 trillion American Families Plan (AFP), the third step in his Build Back Better policy initiative. The announcement followed the previous releases of the proposed $2.3 trillion American Jobs Plan and the Made in [...]

By |2021-05-05T14:31:45-04:00May 5th, 2021|Categories: Blog, Tax|Comments Off on The Biden Administration Proposes Far-Reaching Tax Overhaul

2016 California Tax Refund Deadline

Do you have a California refund coming to you from 2016? Taxpayers normally have four years to file a claim for a CA tax refund (while for federal tax, taxpayers have three years). The four-year statute of limitations begins [...]

By |2021-05-05T13:48:02-04:00May 5th, 2021|Categories: Blog, California, SALT, Tax|Comments Off on 2016 California Tax Refund Deadline

Employee Education Assistance

Providing education assistance to employees? Follow these rules Many businesses provide education fringe benefits so their employees can improve their skills and gain additional knowledge. An employee can receive, on a tax-free basis, up to $5,250 each year from [...]

By |2021-05-03T17:19:37-04:00May 3rd, 2021|Categories: Blog, Tax|Comments Off on Employee Education Assistance

Time Off Liabilities

Liabilities for unused time off mount as pandemic lingers During the pandemic, many employees have postponed using their allotted paid time off until COVID-related restrictions are lifted and safety concerns subside. This situation has caused an increase in accruals [...]

By |2021-04-30T11:23:30-04:00April 30th, 2021|Categories: Audit, Blog, COVID-19|Tags: , , , , , |Comments Off on Time Off Liabilities
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