CBIZ Acquires San Francisco Bay Accounting Provider Shea Labagh Dobberstein
“We share an unwavering commitment to client service and growing our business by cultivating relationships,” commented James Dobberstein.
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SLD Ranked Among INSIDE Public Accounting’s 2021 Top 200 Firms
Shea Labagh Dobberstein is proud to be among IPA’s Top 200 group of firms.
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A Closer Look at Tax Returns for Nonresident Aliens
Nonresident aliens who were involved in business in the U.S. during the tax year must use Form 1040-NR to file their income tax return. Learn more on our blog.
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Changes to Health Savings Account Limits for 2022
The IRS has announced changes for health savings accounts (HSAs) for 2022. HSAs are associated with high-deductible health plans. Learn more on our blog.
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Department of Labor Withdraws FLSA Independent Contractor Final Rule
The Department of Labor withdrew the “Independent Contractor Status Under the Fair Labor Standards Act” final rule in May 2021. Learn more.
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Is an ESOP Right for Your Company?
An ESOP is a type of employee benefit plan similar to profit sharing. A company can set up trust funds where it contributes new shares of stock or cash to buy existing shares. Learn more by reading our blog.
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Understanding Cash Payment Requirements
Cash transactions of more than $10,000 will need to be reported to the IRS. You can file Form 8300 electronically through the Financial Crimes Enforcement Network’s BSA E-Filing System. Learn more on our blog.
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GRATs & IDGTs: Two Options to Consider for Multigenerational Wealth Transfer
If you are thinking of moving your assets to your children, grandchildren, or your descendants, consider a GRAT or an IDGT. Learn more on our blog.
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Considerations for a Successful Return to the Office
As lockdown restrictions begin to ease, many businesses are looking at having employees return to the office. Read our blog to learn more.
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How Do Cash Balance Plans Compare to Other Retirement Plans?
It’s worth learning more about cash benefit plans if you are a business owner. Learn more on how they can help secure a financial stable future on our blog.
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The Tax Angle of Selling a Home
Are you considering putting your home on the market? There is a lot to consider before doing so, taxes being one of them. Read our article for a summary of the rules you will face when you put your house on the market.
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Are You Considering Investing in Real Estate?
Investments always come with some risk, and real estate is certainly no exception. There’s a wide range of variables to consider and few guarantees. So, how can you tell where your money is best spent – and how does real estate fit into your current portfolio?
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What Are the Federal Laws Surrounding Employment Records Retention?
What are the federal laws surrounding employment records retention? We’ve compiled an overview of the most common federal laws that apply to employment records retention.
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What is Directors and Officers Liability Insurance?
Directors and officers (D&O) liability insurance is coverage that protects corporate directors, officers and their spouses from personal losses should […]
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COVID-19 Impact on Retirement Plans: And Now for Some Good News…
In 2020, how did 401(k) plan participants fare with their retirement plans amidst the COVID-19 pandemic? We’re now learning the reality—and it’s not as dim as once predicted.
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The Latest Changes to the Employee Retention Tax Credit
The employee retention credit (ERC) is still around; although, it’s been upgraded with the passage of the second relief bill […]
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Can COVID-19 Vaccines be Mandated by Employers?
Can COVID-19 Vaccines be Mandated by Employers? Read our article and see what businesses can do if an employee refuses to get vaccinated.
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What Are the Rules on Hazard Pay?
Since COVID-19 began, there has been a lot of discussion on whether employees should receive hazard pay. Visit our article to learn more about hazard pay rules and best practices.
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The Essential Components of a Well-Designed Estate Plan
What are the pieces in a well-designed estate plan? Read our article for an overview that could help you understand why everyone needs one.
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Is Remote Online Notarization the Future of Notary?
Often times you may have to go through the tedious process of finding a notary — and the pandemic has made it more difficult. What is the future of notarization?
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Major Changes Come to Kiddie Tax
The SECURE Act has repealed a change to Kiddie Tax that was made in the Tax Cuts and Jobs Act. This change is effective from 2020 onward. Click through for the details on the current and retroactive changes on this often-misunderstood tax.
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Nick Lawrence, CPA, MBT, Promoted to Principal
Nick Lawrence, CPA, MBT, has been promoted to Principal at Shea Labagh Dobberstein.
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By the Numbers: The Key Adjustments for 2021
As the year unwinds, the government can change a variety of numbers that affect tax and other financials. Read our newsletter for a review of the 2021 changes to learn more about how these could affect your or the company you manage.
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Managing Risk in Estate Planning
Does your estate plan stand the test of time? Here is a breakdown and pointers on reducing liabilities with the right insurances and protections.
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Forbes Names Shea Labagh Dobberstein a Top Firm of 2021
Shea Labagh Dobberstein (SLD) has been awarded for the second time on the Forbes list of America’s Best Tax and Accounting Firms.
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What Employers Should Know About Unemployment Tax
If you have employees, make sure to report and pay unemployment taxes to the IRS. Read through our article for the rules of how to set aside amounts for the tax and report it on Form 940.
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James Dobberstein, CPA, Appointed President of DFK International/USA
The Managing Principal of Shea Labagh Dobberstein, James Dobberstein, CPA, has been appointed President of DFK International/USA.
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Spending Behavior May Be Key to Retirement Savings: Key Observations
A recent study shed light on how spending patterns, not just savings, can impact 401(k) plan participants savings. Revealed here are commentaries on the implications of the research findings.
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Spending Behavior May Be Key to Retirement Savings: Key Observations
A recent study sheds light on why savings alone may not provide the full financial picture when it comes to retirement savings rates among 401(k) participants with similar incomes. The implications of the research findings for plan sponsors will be explored here in the second article of our two-part series.
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Shea Labagh Dobberstein Named a Best of the Best Firm
“…Through their efforts and dedication, our professional staff have made this achievement possible,” said James R. Dobberstein, Managing Principal at SLD.
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SLD Ranked Among INSIDE Public Accounting’s 2020 Top 200 Firms
Shea Labagh Dobberstein is proud to be among IPA’s Top 200 group of firms.
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Spending Behavior May Be Key to Retirement Savings: Research Results
Why do participants with similar incomes have different retirement savings rates? A recent study sheds light on why savings alone may not provide the full financial picture.
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What Your 401(k) Could Look Like in the Future: DC 3.0
What’s next for retirement plans? Future plan characteristics are likely to include plan consolidation, hyper-customization, and retirement income solutions.
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SECURE Act: Implications for Plan Sponsors in 2020
The SECURE Act is the first comprehensive legislation effecting retirement plans in over a decade. Plan sponsors should start assessing the consequences of the Act now, especially as many provisions are effective in 2020.
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Shea Labagh Dobberstein to Work with Companies in Crisis
SLD has formed a new Financial Advisory Services (FAS) practice focused on providing accounting and analysis to companies in turnaround, workout or transition.
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How the CARES Act Impacts 401(k) Plans
Plan sponsors should be aware of three provisions that impact 401(k) plans, following the recent passage of the $2 trillion coronavirus-relief legislation.
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Are Your Target Date Funds Putting You at Risk?
Should plan sponsors have concerns about offering TDFs in the plan investment menu despite their popularity? The short answer is “yes.” TDFs can increase a plan sponsor’s fiduciary liability.
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Employee Benefit Plan Newsletter – January 2020
Despite the popularity of target date funds, should sponsors have concerns about offering them in the plan investment menu? The […]
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401(k) Hardship Withdrawals Become Easier
The IRS issued a final rule in September 2019 that not only makes it easier for participants to take a hardship withdrawal, but eases the plan sponsor requirements.
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SLD Named Among Forbes’ 2020 List of ‘America’s Top Recommended Tax & Accounting Firms’
“This speaks to the high caliber of work our experienced professionals consistently exhibit, as well as the firm’s ceaseless commitment to helping our clients attain their goals.”
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Year-End Tax Planning Moves in 2019
We have compiled a list of action items for individuals and businesses that may help you save tax dollars.
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SLD Ranked Among INSIDE Public Accounting’s 2019 Top 200 Firms
Shea Labagh Dobberstein is proud to be among IPA’s Top 200 group of firms.
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75 Years and Counting…
Shea Labagh Dobberstein is proud to be part of the Bay Area’s history as it marks its 75th year in business in 2019.
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Employee Benefit Plan Newsletter – May 2019
There is concern that fiduciaries are not sufficiently educated about their basic responsibilities, especially their administrative oversight duties. Is your […]
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Will 2019 Be the Year That Major Retirement Plan Legislation Finally Gets Passed?
Two proposed bills could bring new opportunities for plan sponsors and participants. Key objectives of the bills include increasing coverage and savings, reducing the cost and administrative burden for plan sponsors, and facilitating lifetime income options.
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Is Your Plan Committee in Need of Fiduciary Training?
There is concern that fiduciaries are not sufficiently educated about their basic responsibilities, especially their administrative oversight duties. Does your plan committee need training?
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Shea Labagh Dobberstein Welcomes Its Newest Principal, Linda Spain de Bruin
SLD is pleased to announce that effective January 01, 2019, Linda Spain de Bruin, MBA, has been named a Principal of the firm.
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Employee Benefit Plan Newsletter – December 2018
Many small businesses don’t have a solid grasp of their retirement plan fees, according to a survey conducted by The […]
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401(k) Contribution Limits to Increase in 2019
The IRS recently announced the 2019 cost-of-living adjustments for a host of retirement plan limits.
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Retirement Plan Fees: Lack of Understanding Can Cost You
Limited knowledge of retirement plan fees can be detrimental to workers’ retirement savings, as well as to managers and owners who serve as fiduciaries to the plan.
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Lessons Learned from Class-Action Lawsuit Decision
What are the fundamentals of ‘good process’ for 401(k) plans? This is discussed and should be of interest to all plan sponsors.
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Year-End Tax Planning Moves in 2018
We have compiled a list of action items for individuals and businesses that may help you save tax dollars.
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A. L. Nella Joins Shea Labagh Dobberstein
SLD has expanded its tax practice in the Bay Area by merging in A. L. Nella, a long-time San Francisco-based tax firm, effective November 1st.
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Shea Labagh Dobberstein Selected as a Best of the Best Firm for the Fourth Year in a Row
Shea Labagh Dobberstein repeats as Best of the Best award winner for 2018. Streak runs to four years in a row.
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Shea Labagh Dobberstein Relocates San Francisco Office
The firm has taken the entire 32nd floor of the 43-story landmark high-rise in the heart of the Financial District.
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States can require online sellers to collect tax across state lines – Supreme Court ruling
A recent Supreme Court ruling broadened the reach of states to impose sales and use tax obligations on remote sellers (including online and catalogue retailers) by putting an end to the physical presence test for establishing nexus for sales and use tax purposes.
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Employee Benefit Plan Newsletter – April 2018
Target-Date Funds are typically managed to achieve a large account balance and to minimize the volatility of that balance. However, […]
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Survey on DC Plans: Plan Sponsors Are Concerned
BlackRock’s 2018 Defined Contribution Pulse Survey highlights a growing concern among plan sponsors that their employees may have to delay retirement due to saving shortfalls.
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Next Generation Target-Date Funds: Giving a Clearer View of the Path to Retirement
TDFs aren’t always managed in a way conducive to achieving a predictable, stable income stream in retirement. It may be worth considering an innovative TDF offering from Dimensional Fund Advisors (DFA).
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Shea Labagh Dobberstein CPAs Expands Bay Area Presence with New Office
SLD’s new Walnut Creek branch will accommodate the Firm’s growth, providing a stronger local presence in the vital 680 Corridor, and new accessibility for the Firm’s clients and staff.
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Engelman Accountancy Corporation Joins Shea Labagh Dobberstein
The tax and accounting practice of Engelman Accountancy Corporation has joined Shea Labagh Dobberstein, effective January 1, 2018.
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Employee Benefit Plan Newsletter – October 2017
Target-Date Funds (TDFs) have become the Qualified Default Investment Alternative (QDIA) of choice for most 401(k) plans. Read more about the positive impact that TDFs have had for participants, plan sponsors and DC plans in general…
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Does Plan Design Matter? New 401(k) Research Released
Do you think the current 401(k) system is working? Do you think more data and analysis is necessary to inform […]
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Target-Date Funds: A Simpler Investment Choice
Target-Date Funds (TDFs) have become the Qualified Default Investment Alternative (QDIA) of choice for most 401(k) plans. Read more about the positive impact that TDFs have had for participants, plan sponsors and DC plans in general…
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SLD Launches COR2E Accounting Solutions
SLD COR2E ACCOUNTING SOLUTIONS provide end-to-end accounting services, from processing daily transactions to year-end tax and audit preparations.
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SLD Recognized as ‘Best of the Best’ Firm for 2017
“Our team here has worked hard to ensure our clients are served with the most talented, responsive and consistent accounting and advisory services possible,” said James R. Dobberstein, Managing Principal at SLD.
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SLD Walks in the Fight Against Alzheimer’s
SLD was one of the top 25 fundraisers for the 2017 Walk to End Alzheimer’s® in San Francisco as it celebrated its 25th Anniversary! Together, we raised over $5,000 to support Alzheimer’s care, support and research.
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Our Clients, Their Stories
What did our clients have to say? Watch SLD’s newest video to listen in and find out!
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Shea Labagh Dobberstein Wins Awards from INSIDE Public Accounting (IPA) for Third Straight Year
SLD has again been named an IPA 200 Firm and has received the distinction of a 2017 IPA 200 Fastest-Growing Organic Growth Firm. “…The expertise of the SLD team and our dedication to meeting the needs of our clients has led to this achievement…” said James Dobberstein.
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San Francisco-Based Accountancy is DFK International Firm of the Year 2017
Shea Labagh Dobberstein named DFK International Firm of the Year 2017.
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Why should my organization consider outsourced accounting?
If you’re not an accountant, it’s time to stop struggling with issues and concepts that aren’t a part of your core business. Working with an expert on an outsourced basis can not only make your life easier, but bring visible improvements to your business.
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How Technology is Changing the Way Our Children Learn
Learn about how the professionals of tomorrow are learning in the classroom. “It’s a long way from blackboards and chalk.”
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Restaurants: Take a Bite Out of Your Taxes
Did you know that many businesses fail to remove assets that have long since been disposed of or sold from their reportable base, and are unnecessarily paying taxes?
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Employee Benefit Plan Newsletter – May 2017
Employees depend on plan sponsors to manage the plan in the best interest of all participants. A poorly designed investment menu can cripple participant outcomes and investment performance. Behavioral finance research suggests that participants are overwhelmed when offered too many investment options. The negative impacts of this are discussed on Page 3.
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2017 Hot Topics for Defined Contribution (DC) Plans
Plan sponsors plan to have an elevated focus on employee financial wellness in 2017. Do you know that plan initiatives don’t need to be large and costly to make a big impact? Here’s why…
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401(k) Investment Menus: Does Your Plan Investment Menu Design Have a Negative Impact on Your Participants?
A poorly designed investment menu can cripple participant outcomes and investment performance. Behavioral finance research suggests that participants are overwhelmed when offered too many investment options.
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Take a Peek Inside Shea Labagh Dobberstein
We’re continuing to recruit the best talent in the industry. Meet our team in this short video!
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Real Estate Newsletter – March 2017
Over the past several months, Congress and the IRS promulgated tax provisions, extending tax savings opportunities that benefit real property owners and clarifying new rules regarding the Foreign Investment Real Property Tax Act (“FIRPTA”). Some of these provisions allow taxpayers to accelerate deductions or claim tax credits. In this newsletter, you will learn about some of the provisions affecting real property, as well as recent trends in multi-family housing within the San Francisco Bay Area.
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Recent Tax Extenders and Guidance Affecting Real Property Owners
A summary of some of the recent provisions affecting real property.
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Shea Labagh Dobberstein Launches New Recruiting Video
Doors are open to you at Shea Labagh Dobberstein. To find out more, and get to know the firm’s culture and number one asset – its exceptional people – watch our recruiting video.
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Shea Labagh Dobberstein Appoints Three New Principals
Shea Labagh Dobberstein is pleased to announce that three of its directors have been promoted to principals: Marc Armstrong, CPA, CFA, MBT; Liza T. Belale, CPA; and Chika Shimada, CPA.
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How Proposed Tax Policy Changes Are Influencing Tax Moves
Currently, the proposals outlined by both the President-Elect and House Republicans “simplify” the personal income tax code. Key policy proposals […]
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Multi-family Housing Trends in the San Francisco Bay Area
What’s fueling this nationwide trend? Both millennials and empty nesters from the baby boomer generation. While age may be the […]
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Post-Election Tax Policy Update
Get up to speed with a first look at some of the likely tax impacts from the 2016 election… Special report now available!
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The U.S. Economy, Real Estate Market, and the Elections: A Discussion on 2017 & Beyond
Over 100 attendees gained insight into the upcoming local real estate and national economy, and how it will be moved by the results of the upcoming general election from leading economist, Tim McGee.
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How 3D Printing Will Shape the Future of Manufacturing and Accounting
Every pivotal change in the modus operandi of producing goods has created a similar effect- Resulting in what most of […]
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Restaurant Newsletter – Fall 2016
In this newsletter, discover the top three strategies that yield sales tax savings, and how significant savings can often be achieved by a simple inventory of assets.
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Tax Policy and the 2016 Presidential Election
Key Candidate Positions on Tax Policy : Democratic Candidate Hillary Clinton According to the Tax Policy Center, Hillary Clinton’s […]
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Top Three Strategies to Save on Sales Tax for Restaurants
Discover top three strategies that yield sales tax savings for restaurants.
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1031 Exchange – Defer Your Capital Gains
Getting taxed on your capital gains is a part of life, but a 1031 Tax Deferred Exchange can help you […]
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SLD Named a ‘Top 10 Fastest-Growing Best of the Best’ firm for 2016 by INSIDE Public Accounting (IPA)
For a consecutive year, SLD has been named a ‘Best of the Best’ firm by IPA, a leading accounting trade publication.
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SLD Named an INSIDE Public Accounting (IPA) 200 Firm for 2016
SLD has been named an INSIDE Public Accounting (IPA) 200 Firm for 2016 for another year in a row, moving up 15 spots from the 2015 ranking.
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Essential Internal Controls For Your Restaurant
Internal controls can help minimize risk and reduce the likelihood of fraudulent activities taking place. Fraud is a prevalent issue […]
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The PATH Act: A Start Toward Rational Recovery Periods for Real Property Assets
Many will remember the extreme overreaction that Congress undertook with the 1986 Tax Act. ACRS was replaced with MACRS and, […]
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IRS Issues Guidance Regarding the Deferral of Gift Card Income
Recent IRS guidance clarifies opportunity for the deferral of gift card income.
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Real Estate Newsletter – July 2016
The real estate industry in the Bay Area continues its upward trend—although there is talk about a plateau being reached or at least being in sight. The increase in construction activity and valuations have been very strong. Only time will tell if the future holds a correction or merely a pause in the upward trajectory.
The main focus of this issue will be on depreciation. On Page 2, we discuss depreciation in the context of cost segregation—from the §1031 exchange vantage point and from a “repair vs. capitalize” vantage point. On Page 3, we explain the newly enacted PATH Act provisions as they affect the real estate industry. In combination, these articles explore the intersection of bonus depreciation with cost segregation and like-kind exchange (an exercise in three-dimensional chess).
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Litigation Storms Touching Ground on Smaller 401(k) Plans
Lately, litigation has been initiated against plan sponsors or providers of large plans. A recent lawsuit brings to light the disturbing fact that even sponsors of small- and mid-sized 401(k) plans are now at risk.
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Employee Benefit Plan Newsletter – July 2016
In previous articles, we have discussed the positive impact that 401(k) plan design features such as auto enrollment and auto escalation have had on both participation and savings rates. A less well-known and relatively new feature, auto portability, is the subject of this article. This feature not only makes it easy for both employees and plan sponsors to move retirement account balances when they change jobs, but can help increase overall retirement savings. Turn to Page 3 for more information about the potential of this feature and why you should be aware of it.
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Auto Portability – Addressing the Needs of a Mobile Workforce
Auto portability not only makes it easy for both employees and plan sponsors to move retirement account balances when they change jobs, but can help increase overall retirement savings.
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Cost Segregation – Two Applications
A discussion of depreciation in the context of cost segregation—from the §1031 exchange vantage point and from a “repair vs. capitalize” vantage point.
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Section 179D – Best Tax Break You’ve Never Heard Of
Do you know that under Section 179D of the international revenue code, taxpayers are allowed to expense up to $1.80 per square foot of the cost of improvements that increase energy efficiency?
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Real Estate Newsletter – April 2016
Welcome to the first issue of SLD’s Real Estate newsletter providing important news and advice for real estate professionals.
In today’s challenging economy, where real estate holdings are subject to shifting dynamics in the market, SLD’s real estate experts can provide clients peace of mind and stability.
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Restaurant Tips and Taxes – What Employers Should Know Beyond the Tax Credit
Here are four basic ‘tips’ industry professionals need to know: The Tip Tax Credit. You can receive a tax credit on your […]
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Litigation Storms Impacting the 401(k) Climate
Steps plan sponsors can take to help guard against potential litigation as even smaller plans are now at risk.
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Designing Employer Contributions to Encourage Greater Participant Savings
While matching contributions provide added incentive for employees to participate in a defined contribution (DC) plan, tailoring employer contributions can help maximize participant contribution rates. For instance, plan sponsors may want to reduce the matching percentage and increase the cap to see if the savings rate would increase without negatively impacting the participation rate.
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Employee Benefit Plan Newsletter – March 2016
Our last two newsletters featured articles about two common “auto” features used by defined contribution (DC) plans to improve participation and savings rates. Numerous studies have documented the positive impact these features have had. Beyond such auto features, there are a number of other practices that should be explored to help drive successful retirement outcomes. A plan’s approach to employer contributions, for instance, can be designed to maximize the employee’s contributions. Turn to Page 3 for a discussion of how this could be accomplished.
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Tax Extenders Made Permanent
This change will significantly decrease the after-tax cash flow cost of leasehold improvements and should provide a boost for all aspects of the real estate industry – from development through design, construction and occupancy.
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How to Help Increase Your Participants’ Retirement Savings: Auto Escalation
Numerous studies have found that in order to accrue adequate money to achieve a secure retirement, the average plan participant needs to contribute between 10–15% of their annual salary. Considering that default contribution rates for plans utilizing automatic enrollment are generally in the 3% to 6% range, it is a marked gap, and one that plan sponsors can help remedy.
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Employee Benefit Plan Newsletter – January 2016
Over the past thirty-plus years, defined contribution (DC) plans have become the primary means for the average worker to accumulate wealth to provide for a financially secure retirement. With longer life expectancies and increased health care costs, it is more important than ever for employees to adequately save for retirement. Accordingly, it is crucial that employees effectively utilize DC plans to achieve this objective. Unfortunately, several surveys and studies have concluded that this may not be happening.
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New EBSA Report Finds Deficiencies in Audit Quality
According to a U.S. Department of Labor Employee Benefits Security Administration (EBSA) Report issued May 2015, 39% of 400 audits reviewed by EBSA contained major deficiencies. This latest report indicates that the quality of employee benefit plan audits has not improved, but has, in fact, been worsening over previous studies.
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Recent Supreme Court Ruling Puts Onus on Employee Benefit Plan Sponsors…
A ruling by the Supreme Court in the case Tibble vs. Edison International last month makes it clear that plan sponsors have an ongoing fiduciary duty to monitor the investments in 401(k) plans. Although the Supreme Court decision was narrowly focused on the statute of limitations issue, there are broader implications that plan sponsors will need to consider.
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2015 Year-End Tax Planning
Businesses seeking to maximize tax benefits through 2015 year-end tax planning may want to consider several general strategies, such as use of traditional timing techniques for income and deductions, and the role of the tax extenders which were just renewed over the weekend.
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Service at the Internal Revenue Service Slides in 2015
By: Ryan Svoboda | November 2015 Every year, a somewhat unknown group by the name of the National Taxpayer Advocate (NTA) provides […]
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Does my 401k plan need an audit?
By: Adam P. Buttery | October 2015 For 401k plans, the number of participants in the plan at the beginning […]
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Bill Wright to Expand Advisory Practice
Shea Labagh Dobberstein appoints Bill Wright to expand Advisory practice July 2014 Bill Wright, an experienced ‘private-company’ mergers and acquisitions […]
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Shea Labagh Dobberstein Named to Inside Public Accounting Best of the Best Firms List for 2015
Shea Labagh Dobberstein, a leading CPA firm in the Bay Area, has been named to INSIDE Public Accounting’s (IPA) Best of the Best firms list for 2015. Of over 500 firms that participated across the country, only 60 were awarded this designation for their strong financial and operational performance.
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Foreign Bank Account Report (FBAR)
The following is related to the subject of foreign bank accounts and other offshore assets. As you may know, the […]
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Yvonne Wu Promoted to Audit Senior
The firm is pleased to announce the promotion of Yvonne Wu to Audit Senior Staff Accountant. Yvonne joined SLD nearly three years ago and has been a key Audit Staff Accountant providing outstanding service to our clients. This experience, in conjunction with her overall strong skill set, will enable her to take on the greater leadership responsibilities of an Audit Senior Staff Accountant.
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Validity of “Swap and Drop” Transactions Confirmed by BOE
The California Board of Equalization has held that a “Swap and Drop” transaction has qualified for tax-deferred treatment under Section 1031. This decision counters the Franchise Tax Board’s longstanding view that such transactions preclude taxpayers from the requisite holding of the replacement property for use in a trade or business. While not precedential, the ruling should provide some comfort to real estate investors engaging in these types of transactions.
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The IRS is Turning its Eye Toward Employee Benefit Plans; the DOL is Increasing its Budget.
Why is audit quality important? Audit quality is important because the Department of Labor can assess a potential civil penalty of up to $50,000 for an audit that it rejects as being deficient. The assessment is made against the plan administrator, not the plan auditor.
Written by: Adam Buttery, Director – Accounting and Auditing Services
Read MoreThe Key Benefits to “On‐Shoring” Your Production Process
The United States manufacturing industry’s employment levels peaked in the late 1970’s; however, since that time period off shoring of jobs has dominated and the manufacturing industry and employment levels as a whole have declined. In the past few years, though, there has been a significant move to “Re‐Shore” jobs within the manufacturing industry. We’re finding that some of the main reasons companies initially chose to offshore their production process are the same reasons why companies are bringing these jobs back to the United States.
Written By: Adam Buttery, Director – Accounting and Auditing Services
(with Tax input by Karen Souza, Director – Tax Services)
Falling Short: The Coming Retirement Crisis and What to Do About It
Recommended reading for benefit plan sponsors which highlights the challenges individuals face in their attempt to achieve a secure retirement.
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Employee Benefit Plan Newsletter – August 2015
Welcome to the first issue of SLD’s Employee Benefit Plan newsletter providing important news and advice for benefit plan sponsors.
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Avoid These Four Choices on Your Way Toward a Secure Retirement
A summary of the main choices made by DC plan participants that negatively impact the participant’s ability to accumulate sufficient retirement savings.
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Increase Participation Rates in Your Plan: Auto Enrollment
Automatic enrollment features have proven to be an effective means of increasing plan participation. In addition to helping to improve participant outcomes, the increased participation can help plans comply with the non-discrimination requirements.
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$125 million wholesaler distributor of speciality supplies
Tax and Audit | Complex ESOP ownership
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Will Your Employees Be Prepared for Retirement? Increase Participation Rates in Your Plan
Beginning in the 1980s, US corporations began transitioning from traditional defined benefit (DB) to defined contribution (DC) plans (what are more commonly known as “401(k) plans”) as the primary retirement plan offered to their employees. This transition shifted the primary responsibility for an employee’s retirement readiness from the employer to the employee.
Many have suggested that this transition has had a negative impact on the US retirement system. To determine if this claim is valid or not requires a look at whether DC plans are effective in helping employees accumulate enough to enjoy a financially secure retirement.
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Federal Tax Developments
Learn about significant recent federal tax developments that may impact you.
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San Francisco Bay Area Apartment Valuations
So what’s driving today’s appetite for real estate risk in the apartment sector in particular? We think it is principally […]
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