Have a proud and happy Juneteenth - Saturday, June 19! Juneteenth is the oldest nationally celebrated commemoration of the ending of slavery in the United States. On June 15, 2021 the Senate passed the Juneteenth National Independence Day Act, establishing Juneteenth as a federal holiday. Happy Father's Day- Sunday, June 20 To all of the [...]
Congratulations to Shreedar Kothari, CPA; Karla Chavez Luna, CPA, MST; and Vaibhav Tandon, CPA, who were named Most Influential Minority CPAs by the Los Angeles Business Journal.
How to determine "reasonable compensation" for corporate business owners
During the pandemic, cash has been tight for many small businesses, which may make it hard to attract and retain skilled workers. In lieu of providing cash bonuses or annual raises, some companies may decide to give valued employees a share of their future profits. While corporations generally issue stock options, limited liability companies (LLCs) [...]
On March 30, the Financial Accounting Standards Board (FASB) published an updated accounting standard on events that trigger an impairment test under U.S. Generally Accepted Accounting Principles (GAAP). This simplified alternative may provide relief to private companies and not-for-profit entities that have been adversely affected by the COVID-19 pandemic. Here’s what you should know. Clarifications [...]