The Internship

As you’ve all heard, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law on March 27, 2020.  The legislation provides for $2.2 trillion in economic relief…

Tax credits and a tax exemption to lessen the burden of COVID-19 business mandates. On March 18, President Trump signed into law the Families First Coronavirus Response Act (the Act,…

As you’ve heard, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security (CARES) Act on March 27, 2020.  While details and specific applications continue to emerge, one…

President Biden’s proposals for individual taxpayers were outlined in the April 28 address to Congress and in an 18-page fact sheet released by the White House. The American Families Plan…

The Employee Retention Credit (ERC) was created as part of the CARES Act.  At that point, the credit could only be claimed if a paycheck protection program (PPP) loan was…

Prior to 2021, your business had to experience a decrease in revenue of over 50% in order to qualify for the credit. The new rules for 2021 only require a…

The Tax Cuts and Jobs Act of 2017 significantly changed the rules related to the deductibility of meal and entertainment expenses. Generally, business entertainment expenses (not including food and beverage…

At the end of 2020, Congress passed, and President Trump signed, a new law that provides for additional relief related to the coronavirus (COVID-19) pandemic. The law allows for businesses…

You’ve probably heard that the recent stimulus legislation included a provision that removes the 50% limit on deducting business meals provided by restaurants in 2021 and 2022 and makes those…

It has become a cliché in 2020, but what word other than “unprecedented” can be used to describe the events we’ve experienced this year? During such times, tax planning is…

As of this writing, you have likely exhausted your PPP loan proceeds through qualified expenses or are very close to doing so. If you’re like most, you’d like to have…

As you’ve all heard, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law on March 27, 2020.  The legislation provides for $2.2 trillion in economic relief…

Last year, most of the provisions of the massive Tax Cuts and Jobs Act (TCJA) went into effect. They included small income tax rate reductions for most individual tax brackets…

My daughter played for a nationally ranked, competitive soccer team before she graduated from high school.  After almost every game, her coach would gather the team and discuss the highs…

The Tax Cuts and Jobs Act, passed in December 2017, enacted a new tax code section, IRC 199A, which gives certain businesses a 20% deduction against their qualified business income….

We at BFBA have been busy studying hundreds of pages of new law and newly issued regulations.  As tax season gets closer we are fielding more and more questions about…

If you use your car 100% of the time for business, you can deduct all the costs related to operating the vehicle, subject to limits.  However, if you use your…

On Dec. 22, 2017, the most sweeping tax legislation since the Tax Reform Act of 1986 was signed into law. The Tax Cuts and Jobs Act (TCJA) makes small reductions…

purposes, which means states can now require out-of-state sellers with any substantial nexus within a state to collect and remit sales taxes, without regard to physical presence in that state….

The recent Tax Cuts and Jobs Act created a significant benefit for C corporations.  The corporate rate was reduced to a flat 21% vs. a maximum rate of 35% prior…

We’ve been fielding numerous questions about the new lease accounting standard, also known as Accounting Standards Update (ASU) 2016-02 (ASC 842), and thought it would be useful to provide you…

It took six years with over 100 Congressional hearings and 10 opinion papers to draft the tax reform legislation now referred to as the “Tax Cuts and Jobs Act.” President…

It took six years with over 100 Congressional hearings and 10 opinion papers to draft the tax reform legislation now referred to as the “Tax Cuts and Jobs Act.”  President…

Below are highlights of some of the most significant changes affecting individual and business taxpayers. Individuals Drops of individual income tax rates ranging from 0 to 4 percentage points (depending…

The two most common accounting methods available to businesses are the cash and accrual methods. Small businesses typically prefer to use the cash method if it is an available option…

As doubts have arisen regarding the sustainability of our nation’s social security system, more than ever, money is being poured into corporate-sponsored retirement plans.  Retirement plans are an effective way…

With the March 15 tax filing deadline upon us, many companies have just filed their tax returns or at least made a hefty payment with their extension.  Once that money…

The tax laws offer the construction industry many tax deferrals, deductions and credits. The most commonly utilized is the federal Domestic Production Activity Deduction (“DPAD”).  This is a 9% federal…

  1. Prepare a central location to gather information.  Designate one place, such as a folder or desk drawer, to store documents that you will start receiving in January and…

Contractors are typically required to report their income for financial statement purposes on the Percentage of Completion (POC) method of accounting.  However, when filing their annual tax returns, they have…

As a parent of two teenage daughters, I was recently introduced to a new term: FOMO.  If, like me, you’re not on Instagram or Snapchatting your ‘besties’, you may not…

It has become a cliché in 2020, but what word other than “unprecedented” can be used to describe the events we’ve experienced this year? During such times, tax planning is…

While often overlooked or placed on the back-burner by many businesses, developing and implementing a well-constructed document retention policy (“DRP”) can play a meaningful role in any business, including in…

The California Private Attorney General Act, or PAGA, allows private citizens to sue for civil fines and penalties for violations of certain California Labor Code provisions and has become the…

As of this writing, you have likely exhausted your PPP loan proceeds through qualified expenses or are very close to doing so. If you’re like most, you’d like to have…

On September 29, 2016, Governor Jerry Brown signed into law Senate Bill 1234 approving the implementation of CalSavers (formerly known as California Secure Choice), an automatic enrollment payroll deduction IRA…

As you’ve all heard, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law on March 27, 2020.  The legislation provides for $2.2 trillion in economic relief…

Tax credits and a tax exemption to lessen the burden of COVID-19 business mandates. On March 18, President Trump signed into law the Families First Coronavirus Response Act (the Act,…

As you’ve heard, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security (CARES) Act on March 27, 2020.  While details and specific applications continue to emerge, one…

Employees don’t leave because of money! Employees leave because of malalignment with the culture, stagnation in their role and/or… drumroll… they hate their boss. I had a conversation with a…

This phrase became well-known when used by President Ronald Regan repeatedly during the 1980’s.  This phrase, and these words, though, are just as important today.  When it comes to internal…

Everyone’s talking about the labor shortage… There aren’t enough people to hire. How do I get my company’s name out there? How do I become an employer of choice? These…

Last year, most of the provisions of the massive Tax Cuts and Jobs Act (TCJA) went into effect. They included small income tax rate reductions for most individual tax brackets…

My daughter played for a nationally ranked, competitive soccer team before she graduated from high school.  After almost every game, her coach would gather the team and discuss the highs…

The Tax Cuts and Jobs Act, passed in December 2017, enacted a new tax code section, IRC 199A, which gives certain businesses a 20% deduction against their qualified business income….

On January 29, 2019, PG&E Corporation and its primary operating subsidiary, Pacific Gas and Electric Company (together “PG&E” or the “Debtors”), filed voluntary Chapter 11 petitions in the United States…

After years of deliberation, the new revenue recognition standard is finally here.  The standard has been met with much criticism, concern, and confusion within the construction industry.  The interpretations and…

Specifically those in the construction and real estate industries.  After all, work is plentiful, margins are high, and generally, companies are making money.  In these times, many business owners and…

I’m often asked when should a business consider adopting a nonqualified deferred compensation plan.  Businesses use deferred compensation plans for different reasons and different goals. The goals are usually a…

Hachiko was a familiar sight at the Shibuya train station in Tokyo, Japan. Each evening he would go down to the station to greet his owner Mr. Ueno on his…

The recent Tax Cuts and Jobs Act created a significant benefit for C corporations.  The corporate rate was reduced to a flat 21% vs. a maximum rate of 35% prior…

It is never too soon to consider an exit strategy from your business. Depending upon the industry in which your business operates, there will be multiple exit options to consider. During…

When it comes to IT security, your network is being tested every day by rogue, external attackers looking to profit from weak infrastructures and unsuspecting employees. As contractors and material…

Among many other daily activities, when we shop online, log into our work computers, sign up for any service that requires personal information, and apply for loans or credit, we…

At the end of 2020, Congress passed, and President Trump signed, a new law that provides for additional relief related to the coronavirus (COVID-19) pandemic. The law allows for businesses…

If you’ve obtained a PPP Loan then you are likely in one of the following categories. You’ve applied for and have received forgiveness. You’ve applied and are awaiting a response….

BFBA is honored for the 2nd year in a row to be recognized in the  Construction Executive Magazine as one of the “Top 50 Construction Accounting Firms” and still the #1…

BFBA, LLP. is pleased to announce that the firm has been admitted as the newest member in North America for PrimeGlobal, one of the five largest associations of independent accounting…

As of this writing, you have likely exhausted your PPP loan proceeds through qualified expenses or are very close to doing so. If you’re like most, you’d like to have…

On September 29, 2016, Governor Jerry Brown signed into law Senate Bill 1234 approving the implementation of CalSavers (formerly known as California Secure Choice), an automatic enrollment payroll deduction IRA…

As you’ve all heard, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law on March 27, 2020.  The legislation provides for $2.2 trillion in economic relief…

Tax credits and a tax exemption to lessen the burden of COVID-19 business mandates. On March 18, President Trump signed into law the Families First Coronavirus Response Act (the Act,…

As you’ve heard, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security (CARES) Act on March 27, 2020.  While details and specific applications continue to emerge, one…

Employees don’t leave because of money! Employees leave because of malalignment with the culture, stagnation in their role and/or… drumroll… they hate their boss. I had a conversation with a…

Last year, most of the provisions of the massive Tax Cuts and Jobs Act (TCJA) went into effect. They included small income tax rate reductions for most individual tax brackets…

On January 29, 2019, PG&E Corporation and its primary operating subsidiary, Pacific Gas and Electric Company (together “PG&E” or the “Debtors”), filed voluntary Chapter 11 petitions in the United States…

We at BFBA have been busy studying hundreds of pages of new law and newly issued regulations.  As tax season gets closer we are fielding more and more questions about…

For me, I joined BFBA immediately after graduating from CSUS. I was assigned a Buddy and a Mentor, but I wasn’t too sure what that meant. I realized how thankful…

Specifically those in the construction and real estate industries.  After all, work is plentiful, margins are high, and generally, companies are making money.  In these times, many business owners and…

“Before BFBA became the region’s largest locally owned accounting firm, there were four guys at a table in a dark corner of the Black Angus Steakhouse in Citrus Heights. It…

Ben Brown, managing partner at BFBA, offers his insight into family business planning. For more from Brown, check out “Mapping the Next Move” first published in the October issue of…

I’m often asked when should a business consider adopting a nonqualified deferred compensation plan.  Businesses use deferred compensation plans for different reasons and different goals. The goals are usually a…

Salary, benefits, size, types of clients? How about the thing that will contribute to your overall happiness that is just as important? The thing that I’m talking about is firm…

purposes, which means states can now require out-of-state sellers with any substantial nexus within a state to collect and remit sales taxes, without regard to physical presence in that state….

One of our core principles at BFBA has always been to help our employees reach their potential and enjoy a rewarding work experience. We believe that when our employees achieve their best,…

Sacramento, Calif., July 27, 2015 – BFBA, LLP announces a merger with Sacramento-based Zezoff, Yuen & Co. CPAs (ZY). The merger will allow BFBA to expand and bolster the scope of…

Salary, benefits, size, types of clients? How about the thing that will contribute to your overall happiness that is just as important? The thing that I’m talking about is firm…

Below are five things to do while interning that will set you apart from others.  Additionally, most of these can also be applied at the start and throughout your careers….

1. Do not treat Meet the Firms like an interview. Not treating Meet the Firms like an interview seems counterintuitive, but there is a method to the madness. Interviews are…

“Busy season.”  I remember being in school and hearing about it, but never fully understanding what it meant.  Between the swirl of rumors and horror stories about the hours, I…

The Employee Retention Credit (ERC) was created as part of the CARES Act.  At that point, the credit could only be claimed if a paycheck protection program (PPP) loan was…

Prior to 2021, your business had to experience a decrease in revenue of over 50% in order to qualify for the credit. The new rules for 2021 only require a…

You’ve probably heard that the recent stimulus legislation included a provision that removes the 50% limit on deducting business meals provided by restaurants in 2021 and 2022 and makes those…

It has become a cliché in 2020, but what word other than “unprecedented” can be used to describe the events we’ve experienced this year? During such times, tax planning is…

COVID-19 has impacted many areas of our lives, including how we recruit new employees. At our local universities, almost all on-campus recruitment activities have gone virtual. BFBA will continue to…

and the bus ride was almost as fun as the actual game. Some of us ended up watching very little of the game and spent time chatting, eating, and exploring…

For me, I joined BFBA immediately after graduating from CSUS. I was assigned a Buddy and a Mentor, but I wasn’t too sure what that meant. I realized how thankful…

Here is a glimpse into our Halloween festivities. Thank you to the students that joined us!

“Before BFBA became the region’s largest locally owned accounting firm, there were four guys at a table in a dark corner of the Black Angus Steakhouse in Citrus Heights. It…

At BFBA, our tax and audit teams go beyond their everyday job roles to help develop one another and foster strong relationships, both internally and with the clients we serve….