Bonnie Thompson Accountant Beginning January 1, 2020, the following changes go into effect for the withholding of payroll taxes and reimbursement of auto mileage: SOCIAL SECURITY The wage base for withholding social security tax has increased to $137,700 The social security tax rate will be 6.2% for both employers and employees for a maximum expense of $8537.40 For Medicare, the rate is still 1.45% each for employers and employees with no limit this year. Continuing in 2020 employees earning in excess of $200,000 will be subject to a mandatory additional 0.9% Medicare tax withholding regardless of their individual tax
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Archives for Newsletter and Updates
WFY Donates Items to Orangewood Foundation’s Holiday Gift Drive
It’s a time for giving and WFY has done just that. This holiday season, WFY collected dozens of gifts to be donated to Orangewood Foundation’s annual Holiday Gift Drive. For every holiday season, the Orangewood Foundation collects items off a wish list they curated to help young adults transition from the foster system into independent adulthood. Items such as pillows, cooking utensils, portable chargers, etc. are gathered by dozens of people each year. This gift drive helps prevent the ongoing cycle of homelessness with young adults in the Orange County area which many experience in their lifetime. WFY makes an
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NYCM Runner Sabrina Reguero Raises Money for Team for Kids
At Wright Ford Young & Co., we are proud to support our community whether it’s locally or nationally. Sabrina Reguero, the daughter of WFY’s tax director Melodie Reguero, decided to run for a cause at the New York City Marathon on Sunday November 3rd. The marathon course started from Staten Island and went all the way to Central Park in Manhattan. Sabrina ran the 26.2 mile marathon in 5 hours and 7 minutes. She raised approximately $3,000 for the organization Team for Kids on her behalf, almost $400 more than her required minimum. WFY and its employees generously contributed to
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Tax Director Melodie Reguero on Tax Planning at Bruin Professionals
On Wednesday, November 20th, our WFY Tax Director Melodie Reguero presented at the Orange County Bruin Professionals meeting. Ms. Melodie Reguero spoke on tips about year-end tax planning along with Cheryl Gee from UBS. Year-end tax planning is especially critical this time of year to proactively reduce a taxpayer’s risk exposure and tax liability before the new year. If you are interested in tips about year-end tax planning, read our article on Year-End Tax Saving Moves for Individuals. Reguero regularly attends Bruin Professionals meetings, which is diverse group of UCLA alumni who are established in business. The group focuses on
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Proud Sponsor of the OCCF’s 30th Anniversary Annual Meeting
Wright Ford Young & Co. was proud to be a Gold Partner sponsor of the Orange County Community Foundation’s 30th Annual Meeting at the Hotel Irvine on November 20th. Over 730 attendees shared in the inspirational tributes and recognized success of the OCCF’s philanthropic impact on Orange County individuals, families, and businesses over the last three decades. The Wright Ford Young & Co. colleagues and guests who joined the celebration were Bob Wright, Dean Smith, Andy Bautista, Richard Huffman, Janet Kim, Albert Yang, Darin Schott, Carissa DeLuca and Brad Weber. To find out more about OCCF, click here.
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What is the California Consumer Privacy Act (CCPA)?
The California Consumer Privacy Act (CCPA) will start on January 1st, 2020, and will affect more than 1,000,000 businesses in California. The following shows a basic understanding of CCPA and what it’s about.
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Meeting with Congressman Kevin Brady
Wright Ford Young & Co. partners Richard Huffman and Hani Sharestan met congressman Kevin Brady, the main architect of the recent tax law changes TCJA, and had the opportunity to discuss tax policy and the economy. Congressman Brady shared successes and opportunities resulting from the various tax reduction measures but emphasized that more challenges are ahead.
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Year-End Tax Saving Moves for Individuals
Since 2019 is coming to a close now is the time to take action to proactively reduce your tax liability before the new year. Included are a few strategies that may help with your tax situation: Harvest stock losses while substantially preserving one’s investment position. This can be accomplished by selling the shares and buying other shares in the same company or another company in the same industry to replace them, or by selling the original shares then buying back the same securities at least 31 days later.2. Apply a bunching strategy to deductible contributions and/or payments of medical expenses.
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WFY Sponsors TACA’s 13th Annual Ante Up for Autism Benefit Gala
WFY was proud to be a Full House Sponsor of TACA’s 13th Annual “Ante Up for Autism” benefit gala. The Autism Community in Action’s (TACA) Orange County chapter held its 13th annual “Ante Up for Autism” fundraising gala on Saturday October 26, 2019 at the Waterfront Beach Resort in Huntington Beach. Wright Ford Young & Co. was proud to continue its long standing support of TACA through a program sponsorship of the very successful event. TACA is a national nonprofit 501(c)(3) organization founded in 2000 by Glen and Lisa Ackerman with the mission to provide education, support and hope to
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Company News and Newsletter and Updates.
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WFY Partner Kahni Bizub as Panelist at 2019 Business Owner Summit
On November 8th, WFY Senior Tax Partner, Kahni Bizub, will be one of the panelists for WealthWise Financial Services’s 2019 Business Owner Summit. The 2019 Business Owner Summit is a day-long event which includes discussing topics such as scaling your business, income tax strategies, retirement plans strategies, and more. The keynote speakers are Jacob M. Gerber, an equity & multi-asset investment director, and E. Luke Farrell, a fixed income investment director. Kahni Bizub’s specialty is tax planning and compliance services for closely-held and family-owned businesses and their key executives in the service, manufacturing, and distribution industries. She has served some
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Company News and Newsletter and Updates.
accountant, accountants, accounting, business owner summit, ca, california, certified public accountants, cpa, cpa firm, newsletter, oc, orange county, southern california, tax, tax firm, taxation, taxes, wealthwise, wfy, wright ford young, and wright ford young & co.
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