The SPSCPA Blog

This holiday season, the Water Buffalo Club along with the Watts Rams, the LA Rams, and the LAPD passed out toys and grocery store gift cards.

Marta Botten (Principal at SPS) has landed on another list of honorees. Marta was honored on Trusted Advisor's The Future of Business Management list.

Los Angeles Business Journal has released its top 100 accountants of 2022, and our own Rick Schenkel (Managing Shareholder) has made the cut!

The current issue of Variety includes their list of Elite Business Managers. We are happy to share that SPS’s own Steve Levitt (Shareholder), Rick Schenkel (Managing Shareholder), and Marta Botten (Principal) were included on the list.

Sobul, Primes, and Schenkel’s partner Steve Levitt was featured in Variety’s article “Biz Managers Advise Clients on Real Estate Investments Amid Shifting Market.”

This article by SPS's Abhi Parikh, CPA, MST discusses the tax issues related to the forgiveness of PPP loans.

The law known as the Tax Cuts and Jobs Act allows a qualified business income (QBI) deduction that can provide valuable tax savings to individual taxpayers who receive income from passthrough entities, such as S corporations, partnerships, and sole proprietorships.

The internet is a jungle full of predators, and your credit is their prey. According to the FBI’s Internet Crime Complaint Center, most cybercrimes committed in 2017 were related to internet shopping. A record 15 million people were victimized by identity fraudsters in 2016. This surge was impelled by a 40% increase in card-not-present fraud. Criminal hackers are becoming alarmingly Read More »

In 1986, two years into Ronald Reagan’s second term, the Democrats regained a Senate majority. David Pryor, a Democratic senator from Arkansas, used his new position as chairman of the Senate Subcommittee on Oversight of the Internal Revenue Service, to launch an attack on what he called the IRS’ “questionable, overreaching activities”. Among the IRS’ “overzealous, heavy-handed, and often illegal Read More »

There’s a new type of investment fund available called “Opportunity Funds” that might benefit two groups of people. Interestingly, these groups are often not well-acquainted with each other: 1) those who have large investment profits and  2) low-income communities. Let’s begin with a few facts that help show why “opportunity funds” might be an idea whose time has come: At Read More »