Previous Articles
How dealerships can rev up car sales with 8 simple tips
This article explores eight practical tips that can help rev up your dealership’s sales engine, making the sales process less stressful and more productive. LEARN MORE
Tax strategies for high earners
Savvy high earner tax strategies can make your money work smarter, not harder. LEARN MORE
How much is your business really worth?
Valuing your business is not an exact science, but rather an art that involves using different methods and factors to estimate how much your business is worth in the current market. LEARN MORE
Timing end of year business expenses
Companies should be aware that in addition to their expenses, the timing of those expenses plays a pivotal role in optimizing tax liabilities and setting the stage for a prosperous year. LEARN MORE
2024 manufacturing industry trends
Having surmounted challenges in recent times, the manufacturing landscape is on the brink of a significant transformation. LEARN MORE
How a construction company can build an ESOP
Construction company owners can use this plan to structure a sustainable exit strategy while ensuring the ongoing success of the business. LEARN MORE
IC-DISC, explained
By leveraging IC-DISC effectively businesses can strategically position themselves for financial success in the competitive landscape of international trade. LEARN MORE
Why do people fall behind on taxes?
In 2022 alone, Americans owed over $120 billion in back taxes, penalties, and interest, according to the IRS. Here’s why: LEARN MORE
What are estimated Taxes?
Let’s explore the concept of estimated taxes, their importance, how they relate to your tax returns, and the IRS requirements. LEARN MORE
HENRY; High earner, not rich yet
Let’s explore where you stand in this financial spectrum and the small changes that can make a big difference in your financial goals. LEARN MORE
Is it a bad idea to have a family member be your accountant?
People grapple with the decision about whether to bring on a family member to act as their accountant… LEARN MORE
CA’s section 121 exclusion explained
The basics of Section 121 Exclusions, ownership and use test, exclusions and exemptions… LEARN MORE
How car dealers are making the switch from gas to electric vehicles
How car dealers can become the center of the electric vehicle community… LEARN MORE
Why wealthy people continue to work
How do these high-net-worth individuals manage to reach the point in their lives when they can sit back and say, “I don’t need any more money”? LEARN MORE
Finding your path from millionaire to multi-millionaire
Don’t be content with just accepting current circumstances. Our pro-active approach is designed to develop your overall financial goals. LEARN MORE
When is the best time to sell a house for you tax situation?
When planning to sell your home, the best time of the year is based on a number of factors, including tax liability. LEARN MORE
California’s October 16th, 2023 tax deadline
For California residents in FEMA declared disaster counties both the federal and state governments extended the filing date for taxes to October 16, 2023. Which is fast approaching… LEARN MORE
The best time of year to get a new accountant is…
If you’re looking for a new accountant, when is the best time of the year to start your search? LEARN MORE
How to close a car dealership
Manufacturing and supply chain issues during the pandemic coupled with concerns about the post-pandemic economy plus a possible recession have forced many independent car dealerships to close their doors. LEARN MORE
Business travel expense deduction rules
The IRS scrutinizes travel expenses carefully for potential abuses, and no one wants to find themselves on the other end of a tax audit…LEARN MORE
DIY tax software nightmares
Most tax software has hidden or additional fees and lacks an actual person to answer when you call. What else can go wrong… LEARN MORE
Profit-killing car dealership practices
If the financial department isn’t being managed efficiently, this could end up having a negative impact on dealership profits – in other words, you’re losing money. LEARN MORE
The benefits of setting up a retirement plan for your small business
Why are 401(k) retirement plans so popular for small businesses and their employees? LEARN MORE
Should you get a second opinion on your taxes?
Having another “set of eyes” reviewing your return may result in an increase in your tax refund or a decrease in how much you owe the IRS. LEARN MORE
How to make sure your business survives a recession
Recessions can create uncertain times for businesses, especially small businesses, but surprisingly, they can also provide opportunities for growth and success. LEARN MORE
How technology can simplify complex tax scenarios
Tax professionals need to keep abreast of the ever-changing technologies as they relate to managing the taxes of their business clients…LEARN MORE
How to handle unexpected tax bills
Millions of American file their taxes every year, expecting to get a refund. Instead they receive an surprising tax bill from the IRS. LEARN MORE
Tax Day, 2023
Tax day customarily falls on April 15. But in 2023 that date falls on a Saturday and the following Monday is Emancipation Day… LEARN MORE
What percentage can you donate?
Your charitable donation must be made to a qualified organization and the amount of your deduction is subject to specific limits…LEARN MORE
How “Giving Tuesday” turned into “Tax Write-off Tuesday”
Each year brings a variety of tax-smart giving strategies for donating to worthy causes. LEARN MORE
Did you miss the S Corp tax deadline?
What should you do if you miss the filing deadline to avoid steep penalties and fines?.LEARN MORE
How to hire an accountant that is perfect for your business
Why have a CPA firm instead of an in-house accountant take care of all your accounting needs and how to choose the perfect one for you and your business. LEARN MORE
How to handle your salary increase
At first glance, a raise might seem like extra income. But, because of taxes and retirement contributions, your take-home pay might be much smaller than you expected. LEARN MORE
Understanding seasonality for your business
Forecasting your sales goals around seasonality will also help you prepare for a peak season and survive any sudden events. LEARN MORE
Money mistakes that entrepreneurs make
Entrepreneurs can easily make mistakes, from overspending, to taking too much or insignificant risk. LEARN MORE
How your business can handle inflation
Ensure your business has the tools it needs to make informed decisions for a broader view of where your business is — and where it’s going. LEARN MORE
Mid year tax review topics
June is the perfect time to schedule a mid-year tax review for your business because your CPA will have more time to spend with you, and can provide you with a better understanding of your tax and financial situation heading into 2023.LEARN MORE
Why we love the Inland Empire
People and businesses alike are moving to the IE its natural beauty, diversity and so much more. Here’s why we love the I.E.LEARN MORE
Post-COVID construction industry trends
The construction industry has made a cogent recovery from the 2020 recession, but it has also experienced impeding conditions that are expected to persist. LEARN MORE
The car chip shortage saga is just beginning
The global shortage of semiconductor chips has created problems for manufacturers, especially the automobile industry. The shortage of chips has resulted in major reductions in inventory as well as inflated car prices. LEARN MORE
Construction industry pay stubs
Construction pay stubs contain a lot of information. Why? Because the person doing the construction accounting is dealing with complex and unique payroll situations due to a number of factors. LEARN MORE
Common business tax mistakes
Some avoidable common mistakes made by small business owners who prepare their own taxes include, but are not limited to: LEARN MORE
Every business needs PR, even yours
PR is for the best of times and the worst of times. Having a PR professional on your team can gain the attention your company deserves and that will translate into business growth. LEARN MORE
How to sell your business post pandemic
Many businesses were seriously affected by the COVID pandemic. While it’s true that some ended up thriving, others barely survived, and unfortunately, others failed. LEARN MORE
IT business consulting services
IT assessments can help you achieve a better understanding of how technology can support the key overall goals and objectives of your business. LEARN MORE
CPA firm peer review process
CPA firms enrolled in the AICPA Peer Review Program undergoes a peer review process every three years to ensure they are are performing at a high standard as it applies to its accounting and auditing practices. LEARN MORE
How to prepare your first P&L statement
A P&L is a statement showing the revenue or “money in” and expenses or money out” of your business and is required by the IRS.LEARN MORE
The mistakes your accountant makes could cost you
What happens if your accountant makes an error on your return? Who is liable for it? Is your accountant versed in California tax audits? Here are some common mistakes… LEARN MORE
The manufacturing executive’s guide to corporate taxes
A principal issue for a CFO is the ever-changing tax environment. LEARN MORE
How much will a CPA cost for an SMB?
If you’re like many small business owners, you may be hesitant about hiring an accountant because of the added expense. LEARN MORE
Top 3 challenges of starting a not-for-profit
In addition to many of the common problems that other startups face, non-profits must overcome some additional challenges that are unique to their sector. LEARN MORE
Car dealer management tactics with inventory shortages
To combat the lack of inventory on the lot and maintain cash flow, dealership management should consider the following strategies: LEARN MORE
Start looking for a new CPA in Q4
Ready to hire a new CPA for your business and/or to help with your personal finances, here are some key factors to consider…LEARN MORE
When is the best time of year to buy a house for your tax situation?
First learn how the closing date affect your taxes and what expenses are allowable tax deductions. Depending on your tax liability purchasing now may be in your best interest. LEARN MORE
4 IRS secrets
The truth about the IRS is that it does its darndest to keep certain facts under wraps because taxpayers could use information about payment options, for example, to defer paying their taxes. LEARN MORE
End of year tax planning tips that really work
Tips on creating a tax planning strategy, reduce AMT tax, year-end capital gains and losses and charitable contributions…LEARN MORE
The worst type of mail; IRS notice of intent to levy
If you receive a Notice of Intent to Levy from the IRS, you should speak to a tax professional in order to protect your assets from IRS seizure.. LEARN MORE
Car dealership audit tips
What does a “perfect dealership do? Compliance training for one, assuring the teams are up to date on changes in compliance laws and processes…LEARN MORE
How a financial advisor can help your business
The question should be what can’t we assist you with when it comes to personal and business finances. Cash flow, tax requirements, savings strategies, succession planning just too name a very few…LEARN MORE
Unique employee benefits
Attracting top talent is crucial to the growth of your business. Here are some job perks offered by U.S. companies…LEARN MORE
Are tax refunds good or bad?
When you get the big refund check from the IRS, you may feel like you’ve hit the jackpot. Is it a good thing? Here are the pros and cons…LEARN MORE
What happens if you don’t pay taxes?
If you fail to pay your taxes on time, you’re not only assessed a penalty, but interest will accrue on the amount you owe the IRS. LEARN MORE
Meals and entertainment deductions for businesses in 2021
Expenses for entertaining your clients is no longer deductible. However, the Consolidated Appropriations Act of 2020 temporarily makes meals and entertainment 100% deductible if the food and beverage is purchased at a restaurant. LEARN MORE
Top 3 common tax mistakes
Making mistakes on your tax returns can be costly. You may miss out on a larger refund, or end up owing the IRS more, or those mistakes could trigger an audit. LEARN MORE
What would happen if you don’t file your taxes next year?
You will pay more money due to the interest that accumulates on any money you already owe as well as the penalties that the IRS will assess for not filing. LEARN MORE
Make this the last year that you stress about tax season
Here are some easy tips for you to minimize stress this tax season. LEARN MORE
Which small businesses are the most profitable?
According to the SBA, there are more than 30 million small businesses in the U.S. They are the backbone of the U.S. economy. Is your business on the shortlist? LEARN MORE
Employee benefit plan audit services
Companies offering benefit plans are required to submit an annual audit. Does your accounting firm have the designation to perform these compliance audits? LEARN MORE
Some of the biggest companies here in San Diego
San Diego’s future for building a brand and scaling a company in the tech industry is very positive. LEARN MORE
How COVID-19 is changing the construction industry
Adoption of construction technology and other extensive changes due to the pandemic will probably remain in place, post-COVID, and could be for the better.LEARN MORE
Should your accountant be in the same age group as you?
The age of your accountant isn’t the only factor to consider…LEARN MORE
Car dealership forecasting for 2021
The auto industry experienced its weakest year in close to a decade in 2020. However, forecasting is predicting that new vehicle sales will range from 15.5million to 16 million in 2021. LEARN MORE
Giving to charity as a business
Charitable contributions from your business is a great way to give back to your community. As an added benefit, those donations may qualify for business tax deductions. LEARN MORE
When is tax day in 2021?
In 2020, the Treasury Department and the IRS extended the tax filing dates for businesses and individuals. However, the current dates for filing in 2021 have not been extended. LEARN MORE
Balance sheet rules for S corps
An S corporation is a business entity that passes almost all of its finances through to its shareholders. These finances include: income, losses, tax deductions, tax credits… LEARN MORE
What are the tax impacts of hiring more employees?
One example is hiring full time, part time, or seasonal employees, reporting and depositing taxes is no different. However not part of employee withholdings is FUTA paid for by employers only. LEARN MORE
Preparing for taxes in 2021
There will be a number of tax changes for 2021 how can you personally and professionally make the most of them? LEARN MORE
CA business tax basics
Small businesses make up a majority of all businesses operating in California and are a crucial part of the state’s economy. For SMB owners, understanding their tax obligations may be challenging…LEARN MORE
3 keys to avoiding business audits
While statistics show that one out of a hundred businesses are audited by the IRS every year, you want to avoid being that one business. LEARN MORE
3 construction accounting mistakes to avoid
Construction companies face some unique challenges when it comes to the accounting side of their business. Each job results in direct as well as indirect costs that can be broken up into a variety of categories, making it complicated to keep track of…LEARN MORE
4 reasons that car dealers go bankrupt
An accounting error can cause a domino effect, creating inventory issues and other costly decisions. We provide services and on-site training specifically tailored to the automotive dealership industry in California. LEARN MORE
What is ERISA?
The federal government passed the Employee Retirement Security Act (ERISA) in order to provide Americans with protection against misuse of their retirement contributions and more. GYL will help your business with full compliance…LEARN MORE
Quickbooks training in San Diego
QuickBooks is a great tool when setup properly. As part of our business services you will get all the software benefits and a CPA to improve finances, avoid over-taxation and protect your investments plus more. LEARN MORE
Rancho Cucamonga coronavirus resources
The Rancho Cucamonga community, like other communities across the U.S., is facing a public health crisis as a result of the COVID-19 pandemic. The pandemic is also affecting the financial health of small businesses as well as individuals. LEARN MORE
Tax rules specific to the construction industry
While most states don’t impose sales or use tax on construction services, they do consider contractors to be consumers of the supplies and materials used in their projects, and, therefore require contractors to pay a sales or use tax at the time of purchase. LEARN MORE
We represent construction companies against the IRS
The construction industry has some of the most complex and often-litigated tax intricacies. Having experienced representation during an audit is essential to a successful outcome. LEARN MORE