News & Courses

Longcrier & Associates reinvests the knowledge and experience we have gained back into our community. We offer bookkeeping, controllership, financial and operational training courses throughout the year.

Newsletter

IRS to Examine Rental Losses More Closely

The Internal Revenue Service has agreed with recommendations in a newly released government report urging [...] Read More...

Salary Versus Distribution

A U.S. District Court recently ruled against a S Corporation shareholder whose distributions dwarfed the [...] Read More...

“Reworked Worker” Credit in 2011

Employers may claim a “retention credit” for retaining qualifying new employees (certain formerly unemployed workers [...] Read More...

Small Employers May Establish “Simple Criteria Plans”

For years beginning after Dec. 31, 2010, small employers (those having an average of 100 [...] Read More...

Payroll Tax Holiday in Place

Employees will pay only 4.2% (instead of the usual 6.2%) OASDI (Social Security) tax on [...] Read More...

Restriction Definition of Medicine for Health Plan Reimbursements

Beginning this year, the cost of over-the-counter medicines can’t be reimbursed with excludible income through [...] Read More...

Team Longcrier does the Heart Walk

In September, many of the employees of Longcrier & Associates took part in the 2011 [...] Read More...

Matt Martin Passes CPA Exam

A huge shout out goes to Matt Martin who recently found out he passed the [...] Read More...

Selling Used Equipment

Most businesses do a very good job of collecting and remitting sales tax for their [...] Read More...

Estate Tax Alternate Valuation

Some of the hardest times of our lives come when a loved one passes away. [...] Read More...

2012 Inflation Adjusted and Pension Plan Amounts

New 2012 Inflation Adjusted Amounts In order to keep pace with the rise of inflation, [...] Read More...

Where was the Board?

When nonprofit scandals occur, many people ask the question, “Where was the board of directors?” [...] Read More...

Roth IRA Rollovers

If you have been thinking about rolling over amounts in your qualified employer-sponsored retirement plan [...] Read More...

What a “light crop” means for a winery

The 2011 grape harvest in San Luis Obispo County has been the topic of discussion [...] Read More...

IRS Looks to Charities for Money

As we enter the “season of giving” we often aren’t thinking about the consequences on [...] Read More...

Increased Reporting Requirements for Capital Gains

The reporting requirements for capital gain & loss have become substantially more cumbersome due some [...] Read More...

Have you read your loan agreement lately?

The last several years have been filled with news about banks clamping down on their [...] Read More...

IRS Modifies Safe Harbors for Ponzi Scheme Victims

If you’ve been cheated in a Ponzi investment scheme “a la Bernie Madoff”, the IRS [...] Read More...

New IRS Focus

The IRS has recently begun to focus on the accuracy of information contained in Schedules [...] Read More...

New Form 1099-K

In an effort by the IRS to increase compliance by businesses reporting gross receipts, a [...] Read More...

New Penalties for Independent Contractor Misclassifications

Senate Bill 459, signed into law by Governor Brown in October 2011, makes the “willful [...] Read More...

City Business Tax Program

The Franchise Tax Board has been successful in enlisting the help of 107 cities in [...] Read More...

Unclaimed California Use/Sales Tax

When goods are purchased out-of-state that are used, consumed or stored in California and sales [...] Read More...

2012 Payroll Tax Rates & Limits

December 2011 As you have probably heard, both chambers of Congress passed an amended version [...] Read More...

Form 1099-MISC Q&A

1. I thought the rules requiring landlords to issue 1099s were repealed. So, why are [...] Read More...

QuickBooks is Updated for New 1099 Reporting Rules

Intuit has updated the 1099 Wizard in QuickBooks® Windows and Mac 2012 to include payment [...] Read More...

Tips to Avoid an IRS Audit

1. Math errors are the easiest to catch, and the most common alerts to the IRS [...] Read More...

Business Meals and Entertainment Deductions

As a small business owner, it can be difficult to remember the numerous rules regarding [...] Read More...

Home Office Deductions

With many people working out of their homes today, it is important to know the [...] Read More...

Check-writing Authority and Delegation

IRS trial highlights importance of check-writing authority and delegation: The IRS requires employers to withhold [...] Read More...

Wage Theft Prevention Act of 2011

As of January 1, 2012, at the time of hiring a new non-exempt employee, private [...] Read More...

Longcrier & Associates Go Red for Women

Longcrier & Associates continued supporting the American Heart Association by participating in National Wear Red [...] Read More...

Avoid Unnecessary Liabilities to the IRS

As an employer we know it can be tough to stay on top of your [...] Read More...

Business Trips – Deductible Expenses

As a business owner there will be times that business trips will be required to [...] Read More...

S Corporations Can Reduce Self-Employment Income

Income that you generate conducting your business as a sole proprietorship (or through a wholly-owned [...] Read More...

When a Receipt is Not Enough

When deducting business expenses related to travel and meals and entertainment, be sure to keep [...] Read More...

Code Sec. 179 Expensing For Vineyards

In a recently released Chief Counsel Advice #201234024, the Internal Revenue Service has concluded that [...] Read More...

Team Longcrier & Associates Has Grown!

Martin Leon is a Cal Poly graduate, class of 2010. Martin was born in Mexico [...] Read More...