Monthly Archives June 2021

Tax Update on Business Meals Being 100% Deductible in 2021

Angela Tang, CPA Estate & Trust Supervisor   The cost of business meals were considered a deductible expense since 1986, the problem is only 50% of such costs were allowed as a deduction until now.  The latest 2020 stimulus bill saw many changes and one of the which is the business meal deduction.  A temporary exception for 2021-2022 is the 100% business meal deduction for meals “provided by a restaurant.”  The government is attempting to help the restaurant industry impacted by the Covid-19 shutdown by intentionally incentivizing business owners to patronize restaurants. In order to qualify for the business meal
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Categories: Industry News and Newsletter and Updates.

Two New Hires Join Audit Department

This week, Wright Ford Young & Co. welcomed two new hires to our firm. Joy Uba and Lele Kyles will be joining our audit department. We are pleased to have these new hires join our WFY team. Joy Uba Joy Uba joined us in beginning of June as our newest Audit Senior.  She graduated from CSU Long Beach and earned a degree in Business Administration with a concentration in Accounting.  Before starting with WFY, Joy has been working as an auditor the past four years.   In her free time, she enjoys photography, reading, and working with computers. Lele Kyles Lele
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Categories: Company News and Newsletter and Updates.

WFY Partners Jeff Myers & Cyndi LeBerthon Host Upcoming Webinar

Our WFY Partners Jeff Myers, CPA, and Cyndi LeBerthon, CPA, will be presenting at MGI’s Efficiently Conducting Employee Benefit Plan Audits on June 23, 2021. If you’re looking to learn what’s new and what peer reviewers are looking for when they review employee benefit plan audits, this webinar is for you. Jeff and Cyndi will go in-depth with important topics on employee benefit plan audits. They will also cover other topics like common deficiencies and tips on working in a remote environment while performing employee benefit plan audits. Jeff Myers is WFY’s Managing Partner and oversees the audit department as
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Categories: Company News, Industry News, and Newsletter and Updates.