Archives for so cal

WFY Welcomes New Hire in May

May 19, 2022 | by | Comments Off on WFY Welcomes New Hire in May

In the beginning of May, Wright Ford Young & Co. welcomed a new hire who joined our Administrative team. We are excited to have this team member join WFY. Adriana Alcala Adriana Alcala joined our Administrative team in the beginning of May. She previously worked in the mortgage industry for six years as a loan processor. Adriana decided to switch to a different industry to have more stability and grow in her career. In her spare time, she enjoys spending time with her two children and her family. Interested in joining WFY in one of our departments? If you are
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Categories: Company News and Newsletter and Updates.
Tags: accountant, accountants, accounting, accounting career, accounting firm, audit, business, ca, california, careers, certified public accountants, cpa, cpa firm, firm, hiring, irvine, new hires, newsletter, oc, orange county, so cal, southern california, tax, tax firm, taxation, taxes, wfy, wright ford young, and wright ford young & co.

Preparing Yourself and the Best People to Replace You

May 16, 2022 | by | Comments Off on 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 move you. Life is fragile and life is short; it’s over before we know it. But if we live right, once is enough, and we are ready when the time comes. Business owners, are you ready? Our firm counsels many self-made, multi-millionaire business owners.  They are remarkable people with sharp minds and often hard personalities, but also quite soft in the
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Categories: Newsletter and Updates.
Tags: accountant, accountants, accounting, accounting firm, audit, business, business owner, ca, california, certified public accountants, cpa, cpa firm, estates, firm, irvine, law, newsletter, oc, orange county, small business, so cal, southern california, tax, tax firm, tax law, tax planning, taxation, taxes, trusts, wfy, wright ford young, and wright ford young & co.

Expect IRS Delays on Paper Filed Tax Returns

February 23, 2022 | by | Comments Off on Expect IRS Delays on Paper Filed Tax Returns

Hani Sharestan, CPA, MST Tax Partner   In amidst of the 2021 tax season, you should expect delays from the IRS in processing paper filed tax returns that require manual processing. Based on a recent published report, the National Taxpayer Advocate said in its annual report to congress the IRS continues to experience unprecedented severe backlogs in processing paper filed tax returns that require manual processing.  The report shared the following data regarding the IRS backlog of unprocessed returns and correspondence: 2 million unprocessed individual returns (Form 1040) mainly from 2020 and before; 8 million unprocessed payroll tax returns (Form
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Categories: Industry News and Newsletter and Updates.
Tags: accountant, accountants, accounting, accounting firm, audit, business, ca, california, certified public accountants, cpa, cpa firm, firm, IRS, irvine, newsletter, oc, orange county, so cal, southern california, tax, tax filing, tax firm, tax planning, tax return, tax season, taxation, taxes, taxpayer, wfy, wright ford young, and wright ford young & co.

Three New Hires Join WFY in December

December 16, 2021 | by | Comments Off on Three New Hires Join WFY in December

Wright Ford Young & Co. is excited to announce we are welcoming three new hires to our WFY team. Kyle Le and Ben Vallotton-Crellin joining our tax department as Tax Senior and Tax Staff, and Hayley Thomas is joining our audit department as Audit Staff. WFY is pleased to introduce these new hires to our team. Kyle Le In the beginning of December, Kyle Le joined our tax department as Tax Senior. He graduated from Cal State Fullerton and has almost six years of tax work experience at a local CPA firm. His specialties in tax work include tax preparation
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Categories: Company News, Job Postings, and Newsletter and Updates.
Tags: accountant, accountants, accounting, accounting firm, audit, business, ca, california, careers, certified public accountants, cpa, cpa firm, firm, irvine, new hires, newsletter, oc, orange county, so cal, southern california, tax, tax firm, wfy, wright ford young, and wright ford young & co.

WFY Attends TACA’s Ante Up for Autism Dinner and Auction

September 30, 2021 | by | Comments Off on WFY Attends TACA’s Ante Up for Autism Dinner and Auction

The Autism Community in Action (TACA) hosted their 16th annual Ante Up for Autism event on Saturday, September 25. The night involved not only fantastic dining and good company, but it also involved a live auction and silent auction. Besides raising money with auction items, TACA reached above and beyond their donation goal of $300,000 the night of the event. All of the proceeds from Ante Up for Autism went to TACA. Along with other generous sponsors, Wright Ford Young & Co. was proud to be a Royal Flush sponsor for this amazing event. Some of Wright Ford Young &
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Categories: Company News and Newsletter and Updates.
Tags: 2021, accountant, accountants, accounting, accounting firm, ante up for autism, autism, business, ca, california, certified public accountants, charity, cpa, cpa firm, donate, firm, irvine, newsletter, nonprofit, oc, orange county, so cal, southern california, sponsor, taca, tax, tax firm, taxation, taxes, the autism community in action, wfy, wright ford young, and wright ford young & co.

WFY Sponsors OCBJ’s Family-Owned Business Awards

September 2, 2021 | by | Comments Off on 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 businesses in Orange County. OCBJ hosted an eventful luncheon starting with drinks and appetizers in the VIP reception area. Shortly after, all attendees moved to the ballroom where they were seated for lunch and the awards ceremony.  The ceremony included presenter CEO of OCBJ Richard Reisman, keynote speakers Igor Olenicoff & Natalia Ostensen from Olen Properties, and the presenters of the individual awards.
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Categories: Company News, Industry News, and Newsletter and Updates.
Tags: accountant, accountants, accounting, accounting firm, awards, business, ca, california, ceremony, certified public accountants, cpa, cpa firm, family owned, family owned business, firm, irvine, large business, oc, ocbj, orange county, small business, so cal, southern california, tax, tax firm, taxation, taxes, wfy, wright ford young, and wright ford young & co.

New Law Tax Workaround for CA Pass-Through Business Owners

July 27, 2021 | by | Comments Off on 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 pass-through business owners can separately elect to pay a 9.3% entity level tax on the owner’s share of the company’s qualified taxable income which will be allowed as a federal tax deduction on the entity return. Owners who participate will receive a credit on their California individual tax return equal to the 9.3% tax paid at the entity level.  The
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Categories: Industry News and Newsletter and Updates.
Tags: accountant, accountants, accounting, accounting firm, business, business owner, ca, california, certified public accountants, cpa, cpa firm, deduction, firm, irvine, law, newsletter, oc, orange county, passthrough entity, small business, so cal, southern california, tax, tax firm, tax workaround, taxation, taxes, wfy, wright ford young, and wright ford young & co.

Seven New Hires Join WFY

July 22, 2021 | by | Comments Off on Seven New Hires Join WFY

Wright Ford Young & Co. is pleased to welcome seven new hires to our firm in June and July. Andrew Abeyta, Robert Lee, Caleb Short, Xiaoli Shu, Daniel Sur, and Esther Wood joined our tax department. Cora Hultgren joined our audit department. We are thrilled to have these new hires join our WFY team. Andrew Abeyta In July, Andrew Abeyta rejoined our firm as a Tax Senior. He graduated from CSUF and is currently in the process of studying for his CPA license. While out of the office, Andrew loves teaching at church and surfing at the Huntington Beach pier.
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Categories: Company News and Newsletter and Updates.
Tags: accountant, accountants, accounting, accounting firm, audit staff, business, ca, california, careers, certified public accountants, cpa, cpa firm, firm, irvine, jobs, new hires, newsletter, oc, orange county, so cal, southern california, tax, tax firm, tax intern, tax senior, tax staff, taxation, taxes, wfy, wright ford young, and wright ford young & co.

Tax Update on Business Meals Being 100% Deductible in 2021

June 15, 2021 | by | Comments Off on 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.
Tags: accountant, accountants, accounting, accounting firm, business, business meal, business meal deductible, business meal deduction, ca, california, certified public accountants, coronavirus, covid, covid19, cpa, cpa firm, deductible, deduction, expense, firm, IRS, irvine, oc, orange county, pandemic, reimbursement, restaurants, small business, so cal, southern california, tax, tax firm, taxation, taxes, wfy, wright ford young, and wright ford young & co.

Two New Hires Join Audit Department

June 10, 2021 | by | Comments Off on 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.
Tags: accountants, accounting, accounting firm, audit, audit department, business, ca, california, careers, certified public accountants, cpa, cpa firm, firm, irvine, jobs, new hires, oc, orange county, small business, so cal, southern california, tax firm, taxes, wfy, wright ford young, and wright ford young & co.