/Tag: santa monica cpa

Tax News: Surprise Supreme Court Ruling Paves Way for Taxation of Online Sales

By |2018-06-26T18:16:58+00:00June 26th, 2018|Categories: News, Tax Planning|Tags: , , , , , , , |

In a much-anticipated ruling that confounded the expectations of many court watchers, the U.S. Supreme Court has given state and local governments the green light to impose sales taxes on out-of-state online sales. The 5-4 decision in South Dakota v. Wayfair, Inc. was met by cheers from brick-and-mortar retailers, who have long believed that the [...]

CA Disaster Victims may be Eligible for Property Tax Relief

By |2019-06-03T19:32:43+00:00February 7th, 2018|Categories: Tax Planning|Tags: , , , , , , , |

California has been hit by several disasters over the past year.  Victims may be eligible for various types of relief, but perhaps least known is California property tax relief. What is Property Tax Basis? Property taxes can be significant in California.  Our high property values mean the related taxes are often a sizable amount.  Our [...]

9 IRA Tax Tips for the 2016 Tax Year

By |2017-05-24T13:42:02+00:00March 15th, 2017|Categories: Tax Planning|Tags: , , , , , , , |

Taxpayers often have questions about Individual Retirement Arrangements, or IRAs. Common questions include: When can a person contribute, how does an IRA impact taxes, and what are other common rules. The IRS offers the following tax tips on IRAs: Age Rules. Taxpayers must be under age 70½ at the end of the tax year to [...]

Micro-donations could mean more dollars for your non-profit

By |2017-05-24T13:42:04+00:00October 5th, 2016|Categories: Non-profits|Tags: , , |

There are few better feelings when you work at a non-profit then when your organization receives a large gift. But small donations can be just as critical to your organization’s well-being. The latest trend in giving is the micro-donation- through days of giving (such as #GivingTuesday) or crowd-funded online giving sites. If your non-profit isn't already soliciting these types of gifts, [...]

“Professional skepticism”: A necessary exercise for your auditor

By |2017-05-24T13:42:05+00:00October 3rd, 2016|Categories: Audit & Accounting|Tags: , , |

CPA stands for Certified Public Accountant. Although the company pays their fees, public company auditors work for the audit committee and the public in general, not management. This “public watchdog” role demands that auditors exercise professional skepticism throughout the audit process. This role helps explain why auditors want concrete, third-party evidence to verify management’s assertions. [...]

The Tax Benefits of Selling Rather Than Trading in Business Vehicles

By |2017-05-24T13:42:06+00:00August 3rd, 2016|Categories: Tax Planning|Tags: , , |

When it’s time for a new business vehicle, you may be considering trading in your old one.  But is that the right move for you?  If you own your business vehicle, you may benefit from selling outright, instead of trading it toward your new purchase. Although a vehicle can lose value fairly quickly, tax rules [...]

GS Makes Changes to the Dress Code Policy Based on Employee Feedback

By |2017-05-24T13:42:13+00:00December 1st, 2015|Categories: News, Press|Tags: , , , , |

The notion that “Happy employees lead to a happy workplace,” has been taken to heart at the Santa Monica based accounting firm, Gumbiner Savett Inc. The firm has recently adjusted its dress code to adhere to casual Fridays every week.

Not-For-Profits and Transparency

By |2017-05-24T13:42:23+00:00August 4th, 2014|Categories: Audit & Accounting, Non-profits|Tags: , , , |

To most nonprofits “transparency” connotes the need to make financial statements more readily understandable, and suggests being open about all aspects of their operations. Since the IRS revised Form 990 several years ago to require the disclosure of a range of information, transparency has become more important for nonprofits. Protecting Your Not-For-Profit Through Transparency Reputation [...]

Fraud Detection & Prevention

By |2017-10-26T17:08:41+00:00April 23rd, 2014|Categories: Articles, Fraud Prevention|Tags: , , |

Fraud is everywhere and can range from small infractions to large scale theft. Fraud can be experienced by not only a company but by individuals. Studies have shown that the presence of anti-fraud controls correlates with a decreases in the cost and duration of fraud. Being aware of potential fraud signals can help you avoid [...]

Show Buttons
Hide Buttons