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The SPSCPA Blog - Page 6 of 12

 

Is it more taxing to give or to receive?

Gift or Estate Tax Sobul Primes and Schenkel CPA Los Angeles

Changes to gift and estate taxes Although it didn’t receive as much publicity as other parts of the American Taxpayer Relief Act of 2012 (ATRA), estate and gift taxes also got a makeover by our representatives. Congress permanently increased the maximum estate and gift tax rate to 40% for estates of decedents dying after 2012, with an exclusion of $5,000,000, Read More »

Strategies! Sobul, Primes & Schenkel looks to the future

Tax Planning Advice - Sobul Primes Schenkel CPA Los Angeles

Now’s the time to start planning for 2013 tax liabilities Though just a few months have passed since April 15th, it’s never too early to consider strategies for the new tax year. It’s especially important this year because of the many changes as a result of the American Taxpayer Relief Act of 2012, not to mention the tax changes resulting Read More »

Newsflash: Summary of New Tax Law

Tax Law Sobul Primes Schenkel CPA Los Angeles

Dear Clients and Friends, As you may have heard, the President signed and enacted the American Taxpayer Relief Act into law to avoid the “Fiscal Cliff.” The major federal tax provisions are as follows: The Bush-era tax cuts are made permanent and individual income tax rates remain the same for all except the newly defined “high income” taxpayers.  The income Read More »

FUN Raiser!

Howie Mandel Water Buffalo Club Funraiser SPS CPA Los Angeles

The Water Buffalo Club and Howie Mandel are in it for the kids Though water buffaloes are an endangered species in Southeast Asia, they were in plentiful supply at the Skirball Cultural Center October 13, 2012, during a wildly successful evening of fund raising and fun hosted by Howie Mandel! The Water Buffalo Club (WBC) – a local service organization Read More »

Life on Hollywood’s A-list! Twice!

SPS2 on The Hollywood Reporter’s Power Business Manager List The Hollywood Reporter’s October 12, 2012, special section, THR’s Power Business Managers, named two of SPS’s own, Steve Levitt and Rick Schenkel, on their list of 25 power business managers. In addition to highlighting Steve and Rick, the article discusses the trials and tribulations of managing Hollywood’s elite. You can read Read More »

New law for employers with commissioned employees

Commissioned Employees Advice - Sobul, Primes & Schenkel CPA Los Angeles

Signed contracts will be required January 1, 2013 Like so many things, it started with a lawsuit. In the 1990s an out-of-state employer was in trouble for failing to provide California employees with a written contract detailing how commissions were calculated and paid. The ensuing legal battle produced AB 1396 – an amendment to the Labor Code that was passed Read More »

Sobul, Primes & Schenkel is proud to announce…

Masters Degree Sobul, Primes & Schenkel CPA Los Angeles

Two freshly-minted titles and a promotion David Primes recently received his MSA (Master of Science in Accounting) from California State University, Northridge (where he also earned his Bachelor of Science in Accounting). Why would a business owner/partner go to school? “Building knowledge” is one of the fundamentals in our business philosophy. That applies to everyone at SPS. You can view Read More »

Year-end tax tips to leverage old and new rates

Tax Tips - Sobul, Primes & Schenkel CPA Los Angeles

Timing of transactions might save you some money Tax-planning is a year-round activity, of course, but the end of the year presents the opportunity to take advantage of rules and rates that will likely change. Given the impending “fiscal cliff” that you have been hearing about, year-end planning for this year is more important than ever. If Congress and the Read More »

Annual Volunteer Day at SPS

Operation Gratitude - Sobul, Primes & Schenkel CPA Los Angeles

Wondering where we were on November 2? One day every year Sobul, Primes & Schenkel closes up shop completely and focuses on a non-profit project. This year SPS showed up en masse at the National Guard Armory in Van Nuys to spend the day working with Operation Gratitude. Operation Gratitude’s mission is simple – sending care packages to the U.S. Read More »

SPS Newsflash, Schenkel and Levitt in The Hollywood Reporter

The Hollywood Reporter - Sobul, Primes & Schenkel CPA Los Angeles

The Hollywood Reporter’s Power Business Managers The moneymen and women on this third annual list handle the finances, and sometimes financial misfortunes, of Hollywood stars who need help with everything from taxes to stocks to investments to chrome-plated electric cars. Plus the ever-changing intersection of Wall Street and Wilshire as private money flows — and ebbs   Edited by Matthew Belloni Read More »