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WFY Welcomes New Hires in May and June

Wright Ford Young & Co. welcomes three new hires to our tax department and administrative department. Ricardo Tornero and Michelle Huh joined our tax department and Yesenia Alvarez joined our administrative department. We are thrilled to welcome these new hires join the WFY team. Ricardo Tornero In May, Ricardo Tornero joined the firm as a […]


Tax Guidance on Crypto and Virtual Currency

Manny Trelles, CPA Tax Manager   Recently, the IRS issued additional guidance on crypto and virtual currency. The guidance addressed concerns regarding the timing of income recognition, tax basis, and clarification on terms in cryptocurrency transactions. Cryptocurrency is a type of virtual currency that uses cryptography to secure transactions that are digitally recorded on a […]


Defined Contribution Plan Revisions Issued for 2023 Plan Years and More

Dean Smith, CPA Audit & Accounting Partner   Revisions affecting defined contribution plans (including 401(k), money purchase and ESOP plans) subject to independent audits have been issued for 2023 plan years and beyond. On February 24, 2023, The Department of Labor and Internal Revenue Service issued final forms and related revised instructions for the 2023 […]