Client Memo – Document & Internet Security
As computers and the internet become vital to every organization, it is important to adopt security policies to safeguard and manage these company resources. We have listed a few security policy recommendations as follows: Passwords to limit workstation and confidential information access to authorized personnel only. Passwords should be kept secured, changed at regular intervals […]
Client Memo – Reminder: 2011 Year End Tax Planning
If you have not taken advantage of the favorable and generous tax situations that are unique to this year, we strongly suggest you review the following items and discuss with us how they might benefit you – Life-changing events such as marriage, divorce, birth, death, or retirement – Not only will they change your life, […]
Client Memo – New CA Worker Classification Law
Earlier in October, California Governor Jerry Brown signed a new worker classification law imposing significant penalties on employers who misclassify employees. Effective date – January 1, 2012 Key provisions – It is unlawful to voluntarily and knowingly misclassify an individual as an independent contractor. It is unlawful to charge the misclassified employee a fee or […]
Client Memo – Work Sharing Program
This program was established by the California legislature as an alternative to layoffs by minimizing or eliminating the need for layoffs and the accompanying hardships for affected employees. What are the benefits? During a temporary slowdown of the business, if the affected employees are retained instead of being laid off, employers can spare the expense […]
Client Memo – Qualified Personal Residence Trust
What is a QPRT? It’s an irrevocable grantor trust that is formed to own your principal residence or vacation home (the “Residence”) and transfer its ownership to the ultimate beneficiaries when the trust term ends. This is commonly used as an effective method of transferring wealth to the next generation at a discounted value in […]
Client Memo – Section 179 Deduction & Bonus Depreciation
If you are considering making fixed asset purchases for your business, here are some substantial tax-saving opportunities that we would like to bring to your attention. Federal Section 179 deduction For the tax year 2011, the limit is $500,000 and the maximum dollar amount of machinery and equipment that can be purchased is $2 million. […]
Client Memo – Tax Matter Updates
California sales tax rates to decrease on July 1, 2011 – Effective July 1, 2011, the combined statewide sales and use tax base tax rate will decrease from 8.25% to 7.25%. In areas where there are voter-approved district taxes, the total tax rate related to sales and purchases will be the statewide base tax rate […]
Client Memo – Tax Change References
With numerous recently enacted tax law changes, we’ve compiled a list of helpful resources available on our website (www.fbco.com) for your reference as follows: 2010 Tax Law Changes – Extension of Bush-era tax cuts and unemployment benefits, retention of refundable tax credits, and provision of AMT relief – Bush-Era Tax Cuts Extended. Additional California enterprise […]
