Posts

Preparing Yourself and the Best People to Replace You

by 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…
retirement plan
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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…
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Two New Hires Join WFY in February

  Last month, two new hires joined Wright Ford Young & Co. in our tax and audit departments: Sarahbelle Kabigting and Nicholl Venzon. Sarahbelle was welcomed into our tax department and Nicholl was welcomed into our audit department.…
irs delays
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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…
2022 payroll tax
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2022 Payroll Tax & Auto Mileage Rate Changes

By Bonnie Thompson Beginning January 1, 2022 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…
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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…
ante up
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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.…
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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…
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WFY Attends Angels 5K and Angels Game on August 14th

On Saturday, August 14th, Wright Ford Young & Co. attended two exciting events: The Angels 5K and the Los Angeles Angels v. Houston Astros game. For the Angels 5K, around 15 of WFY's employees, families, and friends gathered to complete…
tax workaround
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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…
seven new hires
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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.…
deductible
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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…