Newsflash: Summary of New Tax Law
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!
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
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…
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
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
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’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 »Newsflash – “Fiscal Cliff” Rapidly Approaching
Dear Clients and Friends, As you have no doubt heard discussed in the media, the "fiscal cliff" is rapidly approaching. Included in this "fiscal cliff" is the expiration of some very beneficial estate and gift tax exclusions and tax rates. Until December 31, 2012, the amount you can currently transfer, either during life or at death, without incurring any gift,…
Read More »A New Way to Think About Business Management?
SPS - providing business management services for more than 30 years Under the impression that business managers are just for movie stars? That was the case once upon a time. But Sobul, Primes & Schenkel partner Steve Levitt explains that, “Though business management was traditionally for the entertainment community, we expanded our business management services to support other types of…
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