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Tax News

Tax News

Small Business Relief From State of California

More relief for small businesses – this time from the State of California! Governor Newsom signed an executive order on December 1st that allows the California Department of Tax and Fee Administration to grant a three month extension, without penalties, for tax returns and payments for all businesses filing a Read more…

By LSL, 3 months3 months ago
Tax News

Tax Planning 2020 – Part THREE

Part THREE: Required Minimum Distributions and 401(k)s SO much has happened this year and SO much has to be done before the year-end to help our clients make the correct decisions on their tax liabilities that we are starting our planning now, and we hope you will too. Most, but Read more…

By Jon Huckabay, 4 months3 months ago
Tax News

Tax Planning 2020 – Part TWO

Part TWO: The CARES Act, Net Operating Losses, and Cash Flow So much has happened this year and so much has to be done before the year end to help our clients make the correct decisions on their tax liabilities that we are starting our planning now, and we hope Read more…

By Jon Huckabay, 4 months3 months ago
Tax News

Tax Planning 2020 – Part ONE

Part ONE: The Pandemic (PPP loans), The Election, and Technology INSIDER’S TIP: Start Tax Planning NOW. Don’t Wait for December. INTRODUCTION TO THE SERIES So much has happened this year, and so much has to be done before the year end to help our clients make the correct decisions that Read more…

By Jon Huckabay, 4 months4 months ago
Tax Changes

PPP Loan Forgiveness: Good News, Bad News, and Oh, What a Surprise. Not!

Treasury and the SBA have issued precious little additional guidance since our Webinar last Thursday, April 30th.  But there has been a little news. The Good News For purposes of the headcount and pay rate reduction tests, if you offer to rehire a laid off employee and that employee turns Read more…

By Dave Myers, 10 months9 months ago
Tax News

You Just Got Your PPP Loan Proceeds. Now What?

We all just went through an incredibly difficult process of calculating and applying for our PPP Loan with the SBA. Our banks were just as confused as we were in what felt like a good old Oklahoma Land Rush. Would we do anything wrong that would push us to the Read more…

By Dave Myers, 11 months10 months ago
IRS News

Scammers Posing as IRS Soliciting Information for Stimulus Checks

UPDATED APRIL 30, 2020 Beware!  Scammers and criminals are out in full force now that President Trump has signed into law the CARES Act. Scammers are sending out emails similar to this one LSL Partner Pam Bustos received: The IRS will NEVER reach out directly to you via text, phone Read more…

By Melissa Hou, 11 months10 months ago
Business Advisors

The Employee Retention Credit: One More Bit of Relief from the CARES Act

If you did take out a Paycheck Protection Plan loan, you can stop reading.  Congratulations! But, we’re sorry. This provision doesn’t apply to you. If you were ineligible, this provision grants you a credit of up to $5,000 per employee during 2020.  The credit is applied first to your share Read more…

By Dave Myers, 11 months11 months ago
Tax Changes

Small Businesses with Less Than $1 Million in Taxes Owed to the CDTFA Now Have Extra 90 days to File and Make Payments

More relief for small businesses! Governor Newsom signed an executive order on March 30th that allows the California Department of Tax and Fee Administration to grant a 90-day extension, without penalties, for tax returns and payments for all businesses filing a return for less than $1 million in taxes.  Highlights Read more…

By Dave Myers, 11 months10 months ago
Tax Changes

Paycheck Protection Program Loans (PPPL): 20 critical questions answered

Please note: On April 8, 2020 we added the update below to this article originally published on March 30, 2020 Much has transpired since we wrote our original “20 Question Answered” piece. It has only been a little over a week but it seems like it’s been a year! After Read more…

By Dave Myers, 11 months10 months ago

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Having disruptions to your Finance Workflow? We’ Having disruptions to your Finance Workflow? We’ve got you covered! Join the LSL Bunch breakout session during CSMFO 2021 Tuesday, February 16 at 3:15 PM - 3:45 PM as we cover: Staffing & Turnover, Efficiency with Automation, and Keeping up with Compliance #csmfo2021
Keeping continuity amongst the chaos can be a stru Keeping continuity amongst the chaos can be a struggle for any finance department. How can you keep your ship moving forward in spite of current challenges? Mark your calendar for LSL's CSMFO breakout session! Staffing turnover, finance automation, GASB 87 compliance and more from our experts. 

Add the session to your agenda through our website at lslcpas.com/lsl-cpas-csmfo-2021-visitors/
We're excited to be on the 2021 ‘Best in Account We're excited to be on the 2021 ‘Best in Accounting’ list of accounting firms put out by Clearly Rated, who conduct client satisfaction surveys for CPA firms across the globe! A big ‘thank you’ to our clients for putting us on the list! 

See what they had to say on their website: www.clearlyrated.com/accounting/ca-usa/brea-ca/lsl-cpas-and-advisors-brea-ca
No in-person exhibit hall, no problem. This year v No in-person exhibit hall, no problem. This year visit the LSL CSMFO Virtual booth for raffles, free resources, & chat with our experts from the comfort of your desk. Give this a like if you are attending this year's CSMFO 2021 Virtual Conference! #CSMFO2021

*image CSMFO 2020*
What are some of the things you can do to increase What are some of the things you can do to increase the value of your business before you take it to market? What types of acquirers are in the market for 2021? LSL Partner Pam Bustos and Robert Fahrenhorst & Rob Connolly, from M & A firm Plethora Businesses will tell you! Webinar: 5 Strategies to Maximizing Your Business Value Before Selling – register now on our website lslcpas.com/webinars 

Can't make the live session? Register anyways, and we'll send you the recording!
When it comes time to sell your business - will yo When it comes time to sell your business - will you be paid top dollar? On this week's webinar, experts from merger & acquisitions firm Plethora Businesses will not only explain how key operational and financial opportunities boost your businesses’ appeal but also what attributes can lead to a premium valuation. Register on our website lslcpas.com/webinars
The series that keeps on giving! If you missed our The series that keeps on giving! If you missed our ‘PPP Loans 1 & 2 and the Stimulus Package: What You Need to Know’ webinar last week, never fear – the recording is here. Dave & Mark give detailed explanations on PPP Loan 1 forgiveness timing, qualifying & applying for Loan 2, Stimulus package tax impacts, and answers to the lots of questions.  Watch it here on our website lslcpas.com/webinar – scroll down to the webinar title!
Get the latest updates on all things PPP in our la Get the latest updates on all things PPP in our latest webinar! Forgiveness for PPP Loan 1, applying for PPP Loan 2, & how the Employee Retention Credit could generate significant relief for your business. LSL Partners unpack it all for you this Thursday @3:00 pm. Register now on our website lslcpas.com/webinars
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