The term “sustainability” encompasses a broad range of non-financial metrics that affect a company’s financial condition and performance. Media attention on ESG or environmental, societal, and governance matters has increased public awareness and prompted concerns about how sustainability issues could impact value or increase a company’s risk of litigation. What is Sustainability? A sustainability report or certification Read more…
Federal and State Research & Development Tax Credits R&D Tax Credits can help many industries: breweries and wineries are no exception. While the early stages of new product development are generally not eligible, as the brewer or vintner grows the operation they often begin activities that can help generate significant tax savings. Automation equipment, quality Read more…
Sensiba LLP to be honored at Global Event on February 24 (Pleasanton, CA)- (January 12, 2022) – Sensiba, a leading accounting and business consulting firm, is honored to announce its place among the selected winners of the Real Leaders 2022 “Top Impact Companies” from around the world. Real Leaders recognizes leaders and organizations that are Read more…
As businesses continue pivoting and navigating this new normal, the new year is a good time to consider ways to help your company accelerate and grow. Whether through business operations, tax and financial planning, or process improvement, there are many ways to drive growth in 2023. Tax Credits You May Have Overlooked With the economic Read more…
If you’re an employer with a business where tipping is customary for providing food and beverages, you may qualify for a federal tax credit involving the Social Security and Medicare (FICA) taxes that you pay on your employees’ tip income. Basics of the FICA tip tax credit The FICA credit applies with respect to tips Read more…
For years, manufacturers have had an increasingly difficult time finding, attracting, and retaining skilled laborers. In the wake of the COVID-19 pandemic, these concerns have become even more pressing. A recent Reuters article notes that while the manufacturing industry continues to bounce back from pandemic uncertainties and demand slowdowns, potential growth is being limited by Read more…
Beyond regulatory requirements, developing an effective internal controls framework is valuable in helping your company manage risk. Identifying and mitigating the company’s financial and operational risks under the Sarbanes Oxley Act’s (SOX) Section 404 requirements can also be a prudent investment in improving efficiency by aligning management’s priorities with the organization’s internal processes and operations. Read more…
The process of building a sustainable, comprehensive internal control environment sufficient to comply with the Sarbanes-Oxley act of 2002 (SOX) requires a significant investment of organizational resources. We have created the Zero to SOX implementation process to assist organizations in this endeavor. A Five-Year Window for SOX Internal Control Audit Requirements On March 12, 2020, Read more…
Pleasanton, Calif., December 28, 2021 – Sensiba LLP is pleased to announce that SGA CPAs & Consultants LLP, based in Bend, Oregon, will be merging with the firm. The merger took effect December 15, 2021. “We are thrilled to be merging with such an incredible firm. The quality of the people and strong cultural fit was Read more…
Brandon Scripps Brings Over 15 Years of Audit and Leadership Experience Pleasanton, CA, December 8, 2021 – Sensiba, a leading Northern California-based accounting and business consulting firm, is pleased to announce that Brandon Scripps has been appointed Audit Partner-in-Charge. Brandon works with closely-held businesses of all sizes, from start-ups to multi-generational family businesses. Brandon has Read more…
Several SOX challenges can affect a company’s ability to maintain an effective controls framework, or potentially hinder its ability to demonstrate that its ICFR efforts serve their intended purpose. Common SOX Challenges 1. A lack of executive or board support for the organization’s SOX program. Management’s commitment to effective controls and financial reporting is a Read more…
What is Scope Creep in Family Office? Scope creep is the gradual addition of more and more activity, such as the need to manage an expanding array of entities or generations of the family. Expectation creep, a form of scope creep, is the expanding need for relevant, timely information and reporting that the family office Read more…
Sustainability reports explain the impact of an organization’s activities on the economy, environment, and society. During the novel coronavirus (COVID-19) pandemic, stakeholders continue to expect robust, transparent sustainability reporting, with a stronger emphasis on the social and economic impacts of the company’s current operations than on environmental matters. Investors, lenders, and even the public at Read more…
There’s no doubt that COVID-19 exposed global supply chain vulnerabilities begging the question about how to ensure stability and resiliency in the future. Wherever your business sits on the spectrum, from manufacturer to consumer, this is likely to be a hot button issue. Disruptors include but are not limited to resource scarcity, congestion, population growth, Read more…
Beginning on Monday November 1, California Businesses that meet certain qualifying criteria can claim their portion of the $70 million allocated via AB150 to reward companies with up to $1,000 per qualifying increase in payroll headcount. The Main Street Small Business Tax Credit II enables companies that have not benefited from other tax credits to Read more…
Three Valleys Community Foundation will provide specialized, place-based philanthropic services November 1, 2021 (Tri-Valley, California) – A new geographically based community foundation, Three Valleys Community Foundation (3VCF), has launched, with a vision to enhance the quality of life in the Tri-Valley and greater East Bay area. The name, Three Valleys, is a nod to the Read more…
Understanding and Avoiding Discount Rate Myths in Lease Accounting As companies adopt ASC 842, selecting and estimating the discount rates embedded within their various leases will play an important role in their implementation as well as their accounting going forward. These decisions can be complicated by common misunderstandings about the different types of discount rates Read more…
If your business is depreciating over a 30-year period the entire cost of constructing the building that houses your operation, you should consider a cost segregation study. It might allow you to accelerate depreciation deductions on certain items, thereby reducing taxes and boosting cash flow. And under current law, the potential benefits of a cost Read more…
The U.S. Supreme Court decision in South Dakota v. Wayfair (“Wayfair” ) created enormous changes to how businesses making remote sales into states handle sales tax. Here are some updates for Florida, Missouri, and Colorado. If you do business across state lines, or with customers across state lines, get in touch to learn how Wayfair Read more…
Pleasanton, Calif., October 8, 2021 – Sensiba, a leading Northern California-based CPA and business consulting firm, is extremely proud to announce that Director of Marketing and Sustainability, Jennifer Cantero has joined the 2021 Class of Influential Women in Bay Area Business. The San Francisco Business Times’ annual Most Influential Women in Business publication celebrates the Read more…