OBBBA 1099 Reporting Changes for Local Governments
While the OBBBA 1099 reporting changes might not grab headlines, they mark an important shift for government finance operations.| LSL CPAs
While the OBBBA 1099 reporting changes might not grab headlines, they mark an important shift for government finance operations.| LSL CPAs
Charitable giving has always been about generosity, but it’s also about being strategic with the goal being to maximize deductions. With new tax law changes taking effect in 2026, the way your contributions are deducted could look very different. That means 2025 is the year to act—both to support the causes you care about and... The post 2025 Charitable Giving Deadline: Maximize Deductions Before 2026 Tax Laws Change appeared first on LSL CPAs.| LSL CPAs
Year-End Tax Planning for Generous Donors: Should you bunch your contributions or contribute to a donor-advised fund (DAF)?| LSL CPAs
A federal government shutdown doesn’t just stop activity in Washington, D.C.—it creates ripple effects that reach all the way to city halls, county offices, and special districts across California. For local government finance departments, a shutdown can upend budgets, delay reimbursements, and throw carefully planned projects into uncertainty. But while the short-term disruption can be... The post Navigating the Federal Government Shutdown: What It Means for Local Government Finance Depa...| LSL CPAs
Investments are an important part of managing public funds—but they can also be one of the most confusing areas of accounting for local governments. Between pooled cash, fair value adjustments, and detailed disclosures, it’s easy for this area to get overlooked until year-end. The good news? With the right processes in place, investment accounting doesn’t... The post Investments Made Simple: What Every Local Government Should Know About Reconciling, Reporting, and Preparing for Audit ap...| LSL CPAs
Running a business comes with a lot of big questions.“Should I expand into a new market?”“Can we afford to hire that next key employee?”And the one no one really likes to ask:“Are my books even right?” If you’ve ever wondered whether you need outsourced accounting services, a Fractional CFO, or both—you’re not alone. Many business... The post Outsourced Accounting vs. Fractional CFO: Which One Does Your Business Really Need? appeared first on LSL CPAs.| LSL CPAs
Divorce reshapes nearly every corner of your life—your home, your finances, your future. In the middle of all the legal decisions, parenting changes, and life adjustments, taxes might be the last thing on your mind. However, it needs to move up on the list, and getting your CPA involved early in the divorce process can... The post Top 5 Tax Considerations When Going Through a Divorce in California appeared first on LSL CPAs.| LSL CPAs
California’s retirement mandate has been in place for a while now. If you have 5 or more employees, you’re legally required to offer a retirement plan. Many businesses signed up for CalSavers simply to stay compliant—and that worked as a short-term solution. But here’s the challenge: CalSavers is the starting line, not the finish line.... The post Still Using CalSavers for Your 401(k) Plan? Here’s Why It’s Time to Reconsider appeared first on LSL CPAs.| LSL CPAs
Government finance never stands still—just as teams are wrapping up implementations of recent standards like GASB 87 and 96, new updates are here. GASB 102, 103, and 104 bring important changes to risk disclosures, financial reporting models, and capital asset notes. While the technical language can feel overwhelming, these updates are designed to improve transparency,... The post Making Sense of GASB 102, 103, and 104: What’s Changing and How to Prepare appeared first on LSL CPAs.| LSL CPAs
As the calendar year wraps up, now’s the time for 401(k) plan sponsors to double-check that everything is in order—from contributions to compliance notices. Whether you’re a business owner or part of the HR team, this checklist outlines key responsibilities and who in your organization should be handling them. 1. Review Employee Deferrals and Employer... The post Year-End Checklist for 401(k) Plan Sponsors: What to Review Before December 31 appeared first on LSL CPAs.| LSL CPAs
When most business owners think of a CFO, they imagine someone making sure the books are accurate and compliant. But a great CFO—especially a Fractional CFO—does far more than manage financial statements. They take your numbers and turn them into a roadmap—helping you make better decisions, uncover growth opportunities, and avoid costly mistakes. The result?... The post How a Fractional CFO Drives Revenue, ROI, and Long-Term Success for Business Owners appeared first on LSL CPAs.| LSL CPAs
In 2025, manufacturers and other capital-intensive industries get a rare bit of good news from Washington. Thanks to a provision in the One Big Beautiful Bill Act (OBBBA), the limitation on business interest deductions is once again based on EBITDA—not EBIT. For these companies, that technical-sounding change can mean real tax savings and more flexibility... The post EBITDA Is Back: Bigger Interest Deductions in 2025 appeared first on LSL CPAs.| LSL CPAs
In April 2024, the Office of Management & Budget (OMB) released the most significant revisions to the Uniform Guidance in a decade. While the rules officially took effect for new awards on October 1, 2024, the impact is only beginning to hit local government finance departments in 2025—and will be even more visible in 2026... The post Uniform Guidance Revisions in Effect: Key Impacts for Local Government Finance Departments appeared first on LSL CPAs.| LSL CPAs
The SECURE 2.0 Act of 2022 was enacted to enhance retirement savings and financial security. With more than 90 provisions affecting a wide range of retirement plans, the law is being implemented in phases over several years, from 2023 through 2033. While some key changes took effect in 2023 and 2024, more significant updates are... The post Top 3 New 401(k) Plan Audit Rules for 2025 appeared first on LSL CPAs.| LSL CPAs
Happy Labor Day! Are you shopping for a car this weekend? Perhaps you should be! Labor Day is the unofficial end of summer. Many of us are planning one more beach trip, hike, bike ride, picnic, or barbeque this long weekend. Here’s why you might want to add car shopping to your list. We have... The post Revisiting Clean Vehicle Tax Credit Just in Time for Labor Day appeared first on LSL CPAs.| LSL CPAs
When GASB 87 (Leases) and GASB 96 (Subscription-Based Information Technology Arrangements) first went into effect, many organizations underestimated just how much work these standards would require. What seemed like a straightforward change quickly revealed itself to be one of the more complex accounting challenges in recent years. Finance teams often found themselves scrambling at year-end,... The post Lessons Learned from GASB 87 & 96: How to Simplify Your Year-End Close appeared first on L...| LSL CPAs
For businesses investing in process improvements, product development, or new technologies, R&D tax credits remain a powerful tool in 2025.| LSL CPAs
CPAs providing tax, outsourced accounting, consulting, and audits to businesses, non-profits, and governments in California.| LSL CPAs
LSL Wealth Advisors and Barth Financial Advisors partner to strengthen your financial confidence. Orange County, CA.| LSL CPAs
If you are in Orange County, California and needTax Planning, Preparation & Representation call LSL CPAs - 714-569-1000 for immediate assitance.| LSL CPAs
Estate & Trust Planning: If you need estate planning, contact LSL CPAs at 714-569-1000 for immediate assistance.| LSL CPAs
The OBBBA significantly rolls back many clean energy tax credits starting as early as the end of this year. Learn more!| LSL CPAs
LSL CPAs has offices across California. We offer Government, Automotive, Medical, Industrial and Professional Services accounting services.| LSL CPAs
Among the most important areas to stay on top of: Accounts Payable, Accrued Liabilities, and Long-Term Debt.| LSL CPAs
New limitations will apply starting in 2026, which makes 2025 a key window for maximizing your charitable contributions.| LSL CPAs
July 4 the President signed the One Big Beautiful Bill Act (OBBBA) into law. Here's what you need to know & how you can start planning ahead.| LSL CPAs
Contact LSL CPAs & Business Advisors. CPA firm with offices in Orange County, Sacramento, and Texas. Tax and outsourced accounting services.| LSL CPAs
