Orange County & San Diego CPA firm
Working capital equals the difference between current assets and current liabilities. Organizations need a certain amount of working capital to run their operations smoothly. The optimal (or “target”) amount of working capital depends on the nature of operations and the industry. Inefficient working capital management can hinder growth and performance. Benchmarks The term “liquidity” refers […]
Updated accounting rules for long-term leases took effect in 2019 for public companies. Now, after several deferrals by the Financial Accounting Standards Board (FASB), private companies and private not-for-profit entities must follow suit, starting in fiscal year 2022. The updated guidance requires these organizations to report — for the first time — the full magnitude […]
The COVID-19 pandemic is still adversely affecting many businesses and not-for-profit organizations, but the effects vary, depending on the nature of operations and geographic location. Has your organization factored the impact of the pandemic into its financial statements? You might not have considered this question since last year if your organization prepares statements that comply […]
What is it like to be a Haskell & White Intern? Our accounting internship is designed to give students an accurate picture of the day-to-day life of a staff accountant. Interns receive the necessary training to utilize the software, understand the specific responsibilities and collaborate with team members to complete tasks associated with a current […]
Low interest rates and other factors have caused global merger and acquisition (M&A) activity to reach new highs in 2021, according to Refinitiv, a provider of financial data. It reports that 2021 is set to be the biggest in M&A history, with the United States accounting for $2.14 trillion worth of transactions already this year. […]
Real estate is top of mind when it comes to businesses that create passive income streams or losses. Ownership in other types of companies can also create passive income. Investments also produce passive income and losses. Understanding passive income streams and how to account for them is vital to creating tax planning strategies. A real […]
The COVID-19 relief bill, signed into law on December 27, 2020, provides a further response from the federal government to the pandemic. It also contains numerous tax breaks for businesses. Here are some highlights of the Consolidated Appropriations Act of 2021 (CAA), which also includes other laws within it. Business meal deduction increased The new […]
The Consolidated Appropriations Act of 2021 (the CAA 2021) signed into law on December 27, 2020, is a further legislative response to the coronavirus (COVID-19) pandemic. The CAA 2021 include-along with spending and other non-tax provisions, and tax provisions primarily affecting individuals-the numerous business tax provisions briefly summarized below. The provisions are found in two […]
Here is an overview of key provisions in the COVID relief legislation (the Consolidated Appropriations Act of 2021, or “the Act,” signed into law on Dec. 27, 2020) that affect individuals. Recovery Rebate/Economic Impact Payment Direct-to-taxpayer recovery rebate The Act provides for a refundable recovery rebate credit for 2020 that will be paid in advance […]
Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2021. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements. January […]