Posts

Preparing Yourself and the Best People to Replace You
Gregory Lambourne, Esq.
Senior Planning Consultant
Plato observed that “Nothing ever is, but is always becoming.” We begin dying the day we are born. A bleak sentiment for sure, but useful if you allow it to focus and…

CA Employers Must Have Retirement Plans for Employees by June 30
By June 30, 2022, any California business owners with five or more employees are required to have a retirement plan for their employees.
California businesses with five or more employees must comply with the statewide mandate and offer…

WFY Sponsors OCBJ’s Family-Owned Business Awards
On Thursday, August 26th, Wright Ford Young & Co. was a platinum sponsor at the Family-Owned Business Awards by Orange County Business Journal (OCBJ). The luncheon honored all the nominees and winners to celebrate and recognize family-owned…

New Law Tax Workaround for CA Pass-Through Business Owners
Richard A. Huffman, CPA, MST
Tax Partner
The 2017 Tax Cut and Jobs Act limits individuals state and local tax deduction to $10,000 a year through 2025. California passed into law a workaround for tax years 2021- 2025.
Qualifying…

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…

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…

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…

WFY Introduces New Director of Marketing
This month, Wright Ford Young & Co. promoted Chanelle Bossert to Director of Marketing. Congratulations, Chanelle!
Chanelle Bossert
Before receiving the Director of Marketing position, Chanelle was previously a Marketing &…

Is Your Company Eligible for the Employee Retention Tax Credit?
Richard A. Huffman, CPA, MST
Tax Partner
By retaining employees during the pandemic, your company may be eligible for a payroll tax credit of up to $5,000 per employee in 2020 and $28,000 per employee in 2021.
The employee retention…

AI in Auditing
By Carissa DeLuca, CPA, CFE
Audit Manager
For several years now we’ve been hearing about how Artificial Intelligence (AI) is the future of seemingly just about every industry. Industries from healthcare to banking have…

Employers with Over 50 Employees Must Register with CalSavers by June 30
By June 30, 2021, nonexempt employers with more than 50 California W-2 employees must register with the CalSavers program.
For exempt employers, if you've already offered a retirement plan, you do not have to participate in the program,…

Significant Tax Provisions from Biden’s American Rescue Plan Act
Richard A. Huffman, CPA, MST
Tax Partner
The American Rescue Plan Act signed into law by President Biden includes the following significant tax provisions:
Business tax provisions:
Family and sick leave credits –…