What Do You Want To Do When You Grow Up?
No, not you - some thoughts for your kids Graduation Cap and BooksWhatever the young people in your life are considering for their futures, they are probably not factoring in the less-than-romantic notion of which jobs are in high demand or are high-paying. While it’s certainly not all about the money, it’s wise to consider things from all angles. After…
Read More »Motion Picture & Television Fund
"...dedicated to offering programs and charitable services..." Film Strip When Sobul, Primes, & Schenkel was approached to participate in an effort by the “Hollywood” business management community to raise $1,000,000 for the Motion Picture Television Fund, we stepped right up. The MPTF, as it’s known to its friends, was founded 90 years ago by luminaries Mary Pickford, Douglas Fairbanks, Charlie…
Read More »What to Save When You Give?
A donation without documentation might not be a deduction Because of several recent court cases involving charitable donations being disallowed for lack of proper documentation, we want to remind you of the vital importance of obtaining and saving receipts and paperwork for charitable contributions. The shocker is that in some of the cases the court agreed the money had been…
Read More »Don’t let a smile be your umbrella
Reviewing your insurance portfolio may reveal a potential vulnerability Basic home and auto insurance protects assets and covers expenses for run-of-the-mill mishaps. Unfortunately, some tribulations lead to trials. Lawsuit horror stories, where plaintiffs proving negligence turn a car accident into a multi-million dollar judgment, should provide a cautionary tale to the rest of us. One way to project yourself is…
Read More »New California law (and IRS) focuses on worker misclassification
Employee vs. independent contractor -- it’s not just a matter of semantics There’s nothing new about the battle between the IRS (and other agencies) and businesses that classify workers as independent contractors primarily to save money on taxes and benefits. In the past, the legal battlefield was a bit of a slippery slope based on common-law tests and loose interpretation.…
Read More »What percentage are you? The 1%,12%, 28% or 99%?
IRS audits on the rise for high income individuals and corporations Recently politicians, protestors, and the media have been debating whether or not high-income individuals and corporations are paying their so-called “fair share” of taxes.Apparently this is also an IRS concern. Steven Miller, deputy IRS commissioner for services and enforcement wants to, “assure that those at the lower end of…
Read More »Sobul Primes & Schenkel Mission Statement
A promise from our firm to our clients and ourselves You may have noticed over the years, our guiding values on stationery and newsletters such as, “Maintaining the highest level of service to our clients is at the foundation of everything we do,” and, “Freeing clients to pursue their passions, since 1981.” Or maybe you saw on our website the…
Read More »SPS Newsflash, Dec 2011
SPS Email Alert Dear Clients and Friends: In light of renewed attention and legislation surrounding the classification of workers, we want to share with you some important information. Determining whether someone you hire (or someone who provides services) is an employee or an independent contractor is crucial for every business. The decision can have significant tax, legal, and business implications.…
Read More »Newsflash – David Primes featured in Partners Magazine
From Partners Magazine, Fall 2011 Bright Lights, Big Paychecks The specialized field of entertainment industry accounting requires excellent investigation skills (to track those royalties!) – and a little hand-holding. By Fawn Fitter The PwC accountants who walk the red carpet on the night of the Academy Awards with the official vote tallies aren’t the only industry insiders to hobnob with…
Read More »Rental Property Owners Don’t Have to File 1099s After All?
President Obama signs 1099 repeal act In a recent client letter, and our February 2011 newsletter, we notified you of a new law requiring rental property landlords to file 1099s for all individuals and businesses that provide services to their properties totaling $600 or more a year. And, we told you to stay tuned for further updates. Here’s the latest.…
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