/Lori Shrout

About Lori Shrout

Lorraine (Lori) Shrout is an Enrolled Agent with extensive experience in tax compliance, consultation, and training. Lori has worked in large to mid-sized public accounting firms for over twenty years and enjoys helping clients better understand tax laws and recognize potential tax issues by identifying strategies to minimize the overall tax burden.

New Rules for Independent Contractors

By |2020-03-04T19:21:02+00:00December 19th, 2019|Blog, News|

California’s new AB 5 law, also known as the Dynamex bill, is changing the landscape of worker classification in the state.  The legislation has left business owners, and the workers they use, scrambling to understand the facts and how it will apply to them.  The new rules are complex and are not uniform across [...]

5 tax planning considerations during the Trump administration

By |2017-05-24T13:42:03+00:00February 17th, 2017|News, Tax Planning|

There is a lot of speculation about how tax law may change with the new administration being very vocal about the need for tax reduction. Most agree that changes are coming, the question is if any changes will take effect retroactively to cover the 2017 year, or if 2018 would be the target start date. [...]

Post-Election Tax Planning Considerations

By |2017-05-24T13:42:03+00:00December 16th, 2016|Tax Planning|

There is a lot of speculation about how tax law may change after the recent elections, with the incoming administration being very vocal about the need for tax reduction. With the proposed tax cuts, traditional wisdom of accelerating deductions and deferring income still makes sense. Push your income into 2017 wherever possible, with the hope [...]

Home is Where Your… Well, It Depends

By |2017-05-24T13:42:09+00:00January 18th, 2016|Uncategorized|

Tax Deductions for Commuting Expenses Did you know that your home (where you sleep at night) may not be considered your home for tax purposes? That’s right. Your tax home is generally your normal place of business. It is where you report for work each day. If you do not have a main work [...]

How to Manage Someone Else’s Finances

By |2017-05-24T13:42:09+00:00January 18th, 2016|Uncategorized|

Managing Finances for the Elderly or Ill Many people find themselves helping ill or elderly loved ones manage their finances. The situation tends to be emotionally charged, leaving even the most financially savvy overwhelmed and unprepared for the task. With an estimated 10,000 baby boomers turning 65 every day, the odds are high that [...]

Children and Acting Income… Plan Wisely

By |2017-05-24T13:42:12+00:00January 17th, 2016|Uncategorized|

When Your Child is the Next Big Thing GS manager, Lori Shrout recently had an article published in CPA Magazine regarding children and entertainment earnings. Living in Los Angeles, many families face this situation and can plan wisely for their little stars. Lori offers some great tips for you: Many parents hope for that [...]

Blunders Made when Starting a New Business

By |2017-05-24T13:42:12+00:00January 13th, 2016|Business Advice|

According to the Small Business Administration, one-third of small businesses fail during the first two years. Over half fail in the first five years. If you are starting a small business, it is important to take an honest look at yourself, your business idea, and the marketplace. Be aware of the common mistakes typically made by new businesses so you can avoid becoming a statistic.

Closing Out Financial Records for the Recently Deceased

By |2017-05-24T13:42:14+00:00October 28th, 2015|Estate & Trusts|

There is nothing easy about losing a loved one. Matters tend to get even more difficult if you are the person in charge of finalizing the financial matters for the decedent. No matter the value of the assets left behind, there are always loose ends to address.

Preparing for the Cadillac Tax on High Cost Health Plans

By |2017-05-24T13:42:14+00:00October 7th, 2015|Tax Planning|

News stories recently have been mentioning a new Cadillac Tax, but it’s not a tax on cars.  The Cadillac tax is the Affordable Care Act’s tax on high cost health plans, which is set to start in 2018.  The tax targets so-called Cadillac health plans, which are plans with the most generous level of benefits [...]

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