Community

Payments to Employees Affected by the Local Fires

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During these tragic times businesses may want to help employees affected by the local fires.  The purpose of the following information is to highlight some tax efficient opportunities to help employees affected by the local fires which were declared a qualified disaster by President Trump.  IRC section 139 allow employers to provide qualified disaster relief payments to employees that have incurred unreimbursed expenses due to a qualified disaster (such as the local fires) and have those payments excluded from the employees gross income and included as deductible expense for the business making the payment.   For the payments to be considered qualified disaster relief payments, they should be for either items i. or ii. below, but only to the extent not already covered by insurance.

  1. Reasonable and necessary personal, family, living, or funeral expenses incurred as a result of a disaster. This would include expenses related to loss of use.
  2. Reasonable and necessary expenses incurred for the repair or rehabilitation of a personal residence or repair or replacement of its contents to the extent that the need for such repair, rehabilitation, or replacement is attributable to a qualified disaster.

Other items to point out:

To maximize the tax benefit of these payments, take steps to ensure that payments to employees are for expenses that not covered by insurance.  For example, reimburse deductibles and expenses specifically excluded from insurance coverage first.  Then consider other items that may require further correspondence with insurance adjusters.

Due to the extraordinary circumstances surrounding a qualified disaster, it is anticipated that individuals will not be required to account for actual expenses provided they are reasonable and commensurate with the expenses incurred.  As such, use your own judgment […]

By |October 19th, 2017|business, Community, disaster, relief, tax|0 Comments

Tax Relief for Victims of California Wildfires

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As the local fires near containment and our community looks to band together in the rebuilding process, we wanted to send out a brief update the IRS released today providing an overview of the tax relief and extensions they are offering. We will continue to put out pertinent information as it becomes available. Over the next 24 hours, we will also provide a detailed guide related to tax relief for victims of the fires. If you have any questions, please feel free to call or email your Linkenheimer CPA.

The IRS has provided tax relief for the victims of wildfires affecting parts of California. Currently, the IRS is providing relief to seven California counties: Butte, Lake, Mendocino, Napa, Nevada, Sonoma, and Yuba. The tax relief postpones various tax filing and payment deadlines that occur starting on 10/8/17. Affected individuals and businesses now have until 1/31/18 to file returns and pay any taxes that are originally due during the relief period. This includes quarterly estimated tax payments, extended 2016 income tax returns, and quarterly payroll and excise tax returns. The IRS noted that tax payments related to 2016 individual tax returns were originally due on 4/18/17, and therefore, not eligible for this relief. The relief is automatically available to any taxpayer with an IRS address of record located in the disaster area. Therefore, the taxpayer does not need to contact the IRS to get this relief. Firefighters and aid workers assisting in the relief efforts that are affiliated with a recognized organization and live outside the disaster area also may qualify for the relief by contacting the IRS.

By |October 18th, 2017|Community, disaster, irs, relief|0 Comments

Fire Recovery Business Resources and Comprehensive List of Links for Those Needing Help

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With the fires still burning and information scattered in various spots, we wanted to try and provide our clients, friends and family a comprehensive list of resources that can be shared and referenced easily. Our thoughts and prayers are with all of you affected by this horrible disaster. We will continue to post new info as we get it and if you have any questions, feel free to contact us. Stay Safe.

Staying up to date or needing help:

For life-threatening emergencies, dial 911.

The County of Sonoma has county-wide information including shelters, evacuation areas and clinics.

The City of Santa Rosa has information specific to the Santa Rosa area including shelters and evacuation areas.

Please refer to local media such as KSRO.com (1350-AM or 103.5-FM), KZST.com (101.1-FM) or PressDemocrat.com.

Nixle keeps you up-to-date with relevant information from your local public safety departments. Sonoma County Sheriffs Office updates. Santa Rosa Police Department updates. To receive text updates and alerts, text your ZIP code to 888-777.

Cal Fire Updates

California Office of Emergency Services

Sonoma County Fire Info is an aggregator of information that includes a number of resources.

Missing persons or check in as safe:

Check in or search registrants at the Red Cross’ Safe & Well site.

Check in on Facebook on the crisis response page.

File a missing persons report by calling 707-565-3856.

Fire Recovery Business Resources

If you […]

By |October 13th, 2017|Community, disaster, relief|0 Comments

IRS Gives Tax Relief to Victims of California Wildfires; Extension Filers Have Until Jan. 31 to File

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The following information is from the IRS:

Victims of wildfires ravaging parts of California now have until Jan. 31, 2018, to file certain individual and business tax returns and make certain tax payments, the Internal Revenue Service announced today.

This includes an additional filing extension for taxpayers with valid extensions that run out this coming Monday, Oct. 16.

Currently, the IRS is providing relief to seven California counties: Butte, Lake, Mendocino, Napa, Nevada, Sonoma and Yuba. Individuals and businesses in these localities, as well as firefighters and relief workers who live elsewhere, qualify for the extension. The agency will continue to closely monitor this disaster and may provide other relief to these and other affected localities.

The tax relief postpones various tax filing and payment deadlines that occurred starting on Oct. 8, 2017. As a result, affected individuals and businesses will have until Jan. 31, 2018, to file returns and pay any taxes originally due during this period.

This includes the Jan. 16, 2018 deadline for making quarterly estimated tax payments. For individual tax filers, it also includes 2016 income tax returns that received a tax-filing extension until Oct. 16, 2017. The IRS noted, however, that because tax payments related to these 2016 returns were originally due on April 18, 2017, those payments are not eligible for this relief.

A variety of business tax deadlines are also affected, including the Oct. 31 deadline for quarterly payroll and excise tax returns. Calendar-year tax-exempt organizations whose 2016 extensions run out on Nov. 15, 2017 also qualify for the extra time.

In addition, the IRS is waiving late-deposit penalties for federal payroll and excise tax deposits normally due after Oct. 8 and before Oct. 23, if […]

By |October 13th, 2017|Community, disaster, irs, relief|0 Comments

Tax And Disaster Info For Those Affected By The Fires

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Linkenheimer has been an active part of our Sonoma County community for over 85 years. And like most of you, we have all been profoundly affected by these horrific fires that have swept through our community and continue to affect those that live here. We have lost houses and entire neighborhoods, friends and families have been displaced and like many of you, we are still reeling from the ongoing damage the fires have created. We want to express our utmost condolences to all of our friends, families and clients who have lost something in this disaster. And we want you to know, we will be working side by side with you all during this difficult time to rebuild our community. With power, utilities and cell phone coverage being scarce, we want to try and provide as much information as we can in one post, so that it can be shared effectively with those desperately in need of information and reassurance.

As some of you know, the October 15th tax deadline is near. We have spoken with the IRS regarding extension relief for our clients. Due to our office being located in a disaster area we will be getting some additional time from the IRS to file – not sure yet as to the length, but we’d anticipate another month.  As of now, FEMA has declared the fires as disaster areas, but the IRS will likely not have them declared as Federal tax disaster areas for a week or so.  Apparently it can take awhile (Hurricane Nate has still not been updated in their system either, which happened last week), but given that FEMA has made […]

By |October 11th, 2017|Community, disaster, irs, relief|0 Comments

Linkenheimer Team’s 2017 Eye Care Trip to Nicaragua a Success

January 1, 2017 found 11 Linkenheimer staff and partners on their way to Nicaragua for the firm’s third eye care mission into the remote villages of the Rio San Juan region. Travelers included Matt Melchiori, Anne Glanville, Judy Deniz, Kerri Berry, Andy Vedder, Nina Shaposhnikov, Rudy Malmanis, Kari Bruner, Carli Ortiz, Mike Musson and John Jones.

The morning of January 2nd we boarded the 12 seat Cessna Caravan for San Carlos and our beloved dirt runway. Lunch and a two hour boat ride found us at the Sabalos Lodge www.sabaloslodge.com which became our home base. Mosquito repellent in hand, along with instructions on tucking in the mosquito netting under your mattress (while you are on the mattress) got us prepared for the next five nights.

Days 2 and 3 found us traveling to and from and working in the village of Las Maravillas. This is a very remote village and difficult to get to from Sabalos (or anywhere for that matter) and rarely receives medical services. The region had 30 days of straight rain prior to our arrival, so the roads were nothing but mud and slop with our 4WD convoy frequently stopping to assess the driving strategies and get fellow vehicles unstuck. After two hours of driving we made it to Las Maravillas for the eye care clinic. Our first day at Las Maravillas had us seeing only 250 patients. Only, but it was obvious to us that those 250 people greatly benefited from the quality vision that we were able to provide them. Turns out, due to the heavy rains, a lot of the locals didn’t think we were going to make it to the village. Day 3 was a different story. We saw […]

By |February 21st, 2017|Community|0 Comments

Linkenheimer Partners with Social Advocates for Youth for a Day of Job Shadowing

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Last month, Linkenheimer participated in inspiring six Elsie Allen High School Juniors and opened their eyes to the wonderful world of accounting.  A group of eight Linkenheimer employees spent half a day with the students and their advisors to explain and demonstrate what exactly accountants do.  We provided them with explanations and examples of the different types of accounting professions out there including public accounting vs private accounting and tax vs audit; as well as sharing with the students our firm’s background and how import our culture is within the firm.  We explained that all of us working together in the firm, spending so much time together, we strive to meet our value words of Team, Care, and Approachable to provide a better experience for our staff and our clients.  It was a very enjoyable experience inspiring such a great group of kids and assisting in broadening their views to now include an accounting career as one of their many career options as they head into the world.  This is the third time this year Linkenheimer has partnered with the nonprofit, Social Advocates for Youth (SAY), to host groups of high school students from different Sonoma County schools.

Written by Joelle Smith, Linkenheimer LLP.

By |December 14th, 2016|Community|0 Comments

Linkenheimer Teams up with the Redwood Empire Food Bank

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Following a long Thanksgiving weekend, the Linkenheimer team, along with some clients, family and friends, teamed up, to help fight hunger in our community and provide food for those less fortunate. Over the course of our time there, we work in the warehouse to assemble boxes, fill them with canned food, drinks and other items, that in the end, would be provided to seniors in our community. There are so many amazing non-profits in our community, working together to make Sonoma County an amazing place and we feel blessed to be able to give a little back.

Below is a note we received from the REFB:

I just wanted to take a moment to thank you and your team from Linkenheimer for all your help is past Monday evening at the Redwood Empire Food Bank. Your efforts have a tremendous impact on our neighbors in need, and we would not be able to fight hunger in our community without incredible people, like you all, on our side. 

Together your group helped us to:

Pack 252 boxes of food for seniors in our community 

=7,560 lbs. of food 

=6,300 meals provided to community members in need 

Again, thank you so much for your work to end hunger. We hope to see you all again soon!

By |December 1st, 2016|Community|0 Comments

Happy Veterans Day

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Those of us at Linkenheimer want to say thank you and wish all those that serve a Happy Veterans Day. Honoring the sacrifices many have made for our country in the name of freedom and democracy is the very foundation of Veterans Day. Our debt to the heroic men and valiant woman in the service of our country can never be repaid. They have earned our undying gratitude. This is the day when we remember again the greatness of their unselfish hearts. They shared their lives to our country. We will never forget their sacrifices. Thank you from the Linkenheimer team.
Salute to the Veterans!

“Some people live an entire lifetime and wonder if they have ever made a difference in the world, but the Marines don’t have that problem.”
~ Ronald Reagan

By |November 11th, 2016|Community|0 Comments

Linkenheimer Participates in Play for Progress Program Benefiting Refuge Children in the UK

Make a Difference to the Lives of Refugee Children
This year, the partners at Linkenheimer, along with other Alliott Group members from across the globe, will be working together to support the UK based charity Play for Progress, which works to make a difference in the lives of refugee children both at home in the UK and abroad.

Hundreds of unaccompanied child refugees have arrived in the UK against all odds, and are in the long and arduous process of trying to gain asylum status. During this time, many of these young people are placed in foster care and some face delays enrolling in education.

Play for Progress offers these children ways to connect with the diverse and often overwhelming city that is London, and to explore and develop their own creative potential. They have partnered with Orchestras for All and the Refugee Council and will provide instruments for every student, one-on-one instrumental tuition, weekly workshops on creative topics, ensemble classes, enrolment in the National Orchestra for All programme, monthly outings to concerts and cultural events, and an end of year showcase at which they can display their acquired skills for friends and family.

Play for Progress is in need of the following instrument donations:

  • Winds (Flute, Clarinet, Saxophone)
  • Brass (Trumpet, Trombone)
  • Strings (Violin, Viola, Cello).

These children are also in desperate need […]

By |October 19th, 2016|Community|0 Comments