Santa Rosa - Linkenheimer LLP CPAs & Advisors

Supporting You During the Coronavirus

Dear clients, friends and community,

We understand there is a lot of anxiety and stress caused by the unprecedented coronavirus pandemic that is affecting the local and global community. As Sonoma County and the Bay Area have been put under a shelter in place order, we are doing everything we can to look after the health and safety of our staff and clients. We want you to know we are standing by your side during this crisis.

Certain essential businesses such as providers of healthcare, food, supplies, and financial services are exempt from the shelter in place order. Because of the clients served by Linkenheimer LLP, we are also exempted from the order as an essential services provider. That being said, we are implementing strategies to reduce contact and mitigate exposure.

Currently, our offices will remain open during regular business hours. However, for the protection and health of our staff, clients and community we are implementing a strategy that involves most of our staff working from home. We are also asking documents be sent to us electronically, rather than delivered in person. In person meetings, when possible, should be conducted electronically, whether via video […]

By Linkenheimer LLP|2020-09-03T20:03:15+00:00March 20th, 2020|CA tax, New Tax Laws, Santa Rosa, tax deadlines, taxpayers california franchise tax board|0 Comments

Year-end tax planning with checklists and tips

Year-end tax planning could be especially productive this year because timely action could nail down a host of tax breaks that won’t be around next year unless Congress acts to extend them, which, at the present time, looks doubtful. These include, for individuals: the option to deduct state and local sales and use taxes instead of state and local income taxes; the above-the-line deduction for qualified higher education expenses; and tax-free distributions by those age 70-1/2 or older from IRAs for charitable purposes. For businesses, tax breaks that are available through the end of this year but won’t be around next year unless Congress acts include: 50% bonus first-year depreciation for most new machinery, equipment and software; an extraordinarily high $500,000 expensing limitation; the research tax credit; and the 15-year write-off for qualified leasehold improvements, qualified restaurant buildings and improvements and qualified retail improvements.

High-income-earners have other factors to keep in mind when mapping out year-end plans. For the first time, they have to take into account the 3.8% tax surtax on unearned income and the additional 0.9% Medicare (hospital insurance, or HI) tax that applies to individuals receiving wages with respect to employment in excess of $200,000 ($250,000 for […]

By Linkenheimer LLP|2020-09-03T20:05:47+00:00November 26th, 2013|3.8, 401k, agi, amt, best place to work, CPA, hsa, ira, medicare, mike musson, roth ira, Santa Rosa, tax, tax planning, year-end|0 Comments

Financial Reporting Framework (FRF) for Small to Medium Sized Entities (SMEs)

All financial statements are prepared in accordance with a FRF e.g. Generally Accepted Accounting Principles (GAAP) in the United States of America, and International Financial Reporting Standards (IFRS).

The FRF for SMEs framework is a new accounting option for preparing streamlined, relevant financial statements for privately held, owner-managed, and smaller- to medium-sized for-profit private entities, that need reliable, financial statements, when GAAP financial statements are not required.

The FRF for SMEs framework is constructed of accounting principles that are especially suited and relevant to a typical SME. Examples include the following:

The FRF for SMEs framework uses historical cost as its measurement basis and steers away from complicated fair value measurements.

The framework does not require complicated accounting for derivatives, hedging activities, or stock compensation. Moreover, the FRF for SMEs framework disclosure requirements are targeted, providing users of financial statements with the relevant information they need while recognizing that those users can obtain additional information from management if they desire.

The FRF for SMEs framework consists of traditional accounting principles and accrual income tax accounting methods which are very familiar to lenders. The FRF for SMEs framework is intended to be utilized by entities whose lenders base their decisions principally on reliable […]

By Linkenheimer LLP|2020-09-03T20:05:48+00:00November 5th, 2013|CPA, Financial Reporting Framework, frf, Linkenheimer, Santa Rosa, Small to Medium Sized Entities, sme, steve miksis|0 Comments

Fly Fishing & Accounting

Recently Linkenheimer LLP took all of its employees to the beautiful Clearwater Lodge in Fall River Mills, CA for two days of fly fishing. When it was announced to the staff that we would be taking this trip, the overall response was “Fly fishing??” (Yes) and, “How many hours does it take to drive there?” (5+). To say there was skepticism would be an accurate statement, but the lodge looked beautiful, the menu appetizing, and no agenda other than learning to fly fish, all made for an intriguing idea for a trip. So we met up early one Thursday morning, had previously been assigned drivers and riders and off we went.

One of the hall marks of Linkenheimer and its partners and staff is the longevity of everyone who works here, and the close relationships developed over this extended time, so it goes without saying that we know each other pretty well. When placed in a new environment, doing something completely new, you find new-found interests, commonalities and life experiences; not to mention the hilarity of seeing a circle of accountants practicing fly fishing techniques on the lawn of the lodge. The next morning we were up, suited with waders, boots […]

By Linkenheimer LLP|2020-09-03T20:05:49+00:00September 12th, 2013|accounting, CPA, cpa firm, firm, fly fishing, Santa Rosa, santa rosa cpa|0 Comments

Linkenheimer Named Best Place to Work in the North Bay

By Linkenheimer LLP|2020-09-03T20:05:50+00:00August 7th, 2013|award, best place to work, CPA, journal, Linkenheimer, north bay, north bay business, Santa Rosa, staff|0 Comments