Milestones in Leadership 2014 Key Takeaways (part 1)

Posted by Hector Olguin on May 15, 2014

We had a great day last week at the Milestones in Leadership Summit at the Ritz-Carlton Laguna Nigel. It was wonderful to see some of our clients and to meet some new people.

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Tags: Entrepreneurship

The 8 Requirements for an S Corporation

Posted by Hazel Ho on May 01, 2014

People often ask me what is an S corporation, what are the requirements to be an S corporation or whether a certain action will revoke an S election?  So let’s discuss S corporations today.

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Tags: Entrepreneurship, Tax

Silver Linings – Accounting in the Cloud

Posted by Robert Hicks on April 10, 2014

The Cloud

We hear the term bandied about with impunity in everyday conversations. Our smartphones remind us that we ought to set up our cloud storage sync so our family photos don’t obliterate what little space we have in our device’s memory. Sales representatives tout the fiscally friendly advantages of accessing apps hosted in the cloud: “Don’t buy that software license, save money and use it through our software as a service!” Amidst all the banter and casual handling of what has become a high frequency conversation piece, we may find ourselves thinking, “is it really so great, all this cloud surfing?” or even “what IS the cloud?” Herein I will dissolve the riddle of “what’s remote and accessible and used all over!?” and describe how, when it comes to accounting, it seems that the cloud does, indeed, have a silver lining.

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Tags: Entrepreneurship, cloud accounting

Rethinking Deferred Compensation for Your Key People

Posted by Monte Harrick on March 19, 2014

A new method of providing pre-tax investment opportunities to key employees

Many business owners and companies utilize 401(k) plans or similar type plans for their employees. And they should. 401(k) plans have the most attractive features of any investment available in the marketplace, (i) pre-tax deferrals on compensation, and (ii) tax deferred compounding on those dollars. 

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Tags: Entrepreneurship, Compensation

5 Tax Tips to Properly Itemize Deductions

Posted by Cheuk Wong on March 06, 2014

It is that time again to gather your documents and get organized to file taxes. Here are five tips to help you properly itemize your deductions and minimize your taxes.

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Tags: Entrepreneurship, Tax

Minimum Daily Requirements To Run Your Small Business

Posted by Hector Olguin on February 25, 2014

After your morning cup of coffee and your stop at the PO Box, you drop off your kids at school and give her the last of your cash (5 bucks), and you arrive at your office. Whew, it's 9:30am already!

It’s time to check on the office staff and the warehouse before you actually make it to your office and login to check vitals. Here is where the magic happens, right??? At least that is what you were told in MBA School.

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Tags: Entrepreneurship

You and The Home Office Deduction

Posted by Hazel Ho on February 11, 2014

One question that I often get asked is how much can I deduct for my home office. My aim with this article is to help you understand the rules and how they may apply in your situation. Here we go!

If you use part of your home for business, you may be able to take advantage of the home office deduction. 

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Tags: Entrepreneurship, Tax

Working On Your Business

Posted by Hector Olguin on January 28, 2014

The other day, I had an interesting conversation with one of our firm partners, Rex Ours. Rex and I were discussing potential new candidates for our Tax Manager opening. During the first round phone interview with the partner, one candidate stated his salary expectation which was substantially higher than what we were originally thinking for that position. The natural question was, are we willing to pay that much? Rex answered, “Yes . . . 

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Tags: Entrepreneurship, Book review

What Type of Tax Help Does Your Company Really Need?

Posted by David Knecht on January 22, 2014

The decision regarding a tax return preparer for your company hinges on two key factors:

Growth & Complexity

Even two companies in the same industry with the exact same amount of revenue can differ in the amount of tax help they need. 

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Tags: Entrepreneurship, Tax