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 … [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 … [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, … [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, … [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 … [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 … [Read more...]
Water Buffalos spotted on the Santa Monica Pier
Water Buffalo Club celebrates “Christmas in June” Our Rick Schenkel has been a member of the Water Buffalo Club (WBC) – a local service organization with the motto “Big Kids Helping Little Kids” -- for over 20 years. The WBC hosts an annual summer event at the famous Santa Monica Pier for 200 … [Read more...]
Put Another Candle on our Birthday Cake
SPS turns 30 this year. In 1981 Dallas was the number one TV show, Cannonball Run was racing through movie theaters, the space shuttle program saw its maiden voyage, and IBM began selling something called a personal computer. While all this was going on, ten people in Brentwood quietly got together … [Read more...]
The Wealth Squad Wants You!
An introduction to the IRS’s busy new group The Global High Wealth Industry Group, also known as the “wealth squad,” is a team of experienced IRS specialists assembled specifically to audit wealthy taxpayers. Depending on your point of view, this crack squad is either a scheme by the current … [Read more...]
Lights! Camera! Levitt!
The Hollywood Reporter spotlights Steve Levitt The Hollywood Reporter’s May 20, 2011 article entitled The Secrets of the Rich and Famous, named SPS’s Steve Levitt as one of their top 25 “Greenback Goliaths.” Steve also attended an event honoring those included in the business managers “power” list. … [Read more...]
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