Blog

For years, there has been an ongoing debate in the accounting community regarding to what degree the complex requirements of generally accepted accounting principles (or GAAP) apply to small and non-public companies. U.S. GAAP was created primarily for publically held companies that have to meet strict regulatory reporting requirements....

“Here today, gone tomorrow.” This well-known idiom is often used to describe something that’s temporary or fleeting, such as money, happiness or fame. It could also be used to describe outsourcing services. When Los Angeles and Southern California business owners and executives hire outsourcing firms to provide expertise or services, the...

An undeclared battle has been waging for years between the IRS and many Los Angeles and Southern California businesses that own or lease tangible property regarding whether expenditures related to such property should be expensed or capitalized. Expensed property can be deducted immediately as a current expense, but capitalized property...