One of the most important factors in determining the success and effectiveness of a family office is creating a structure that supports the family and its objectives. This is typically a personalized decision that addresses several factors, such as the family’s situation, goals, and relationships. It’s important for the family to decide what its office Read more…
You’ve heard the words in business circles —COSO, ERM, SOX, and COBIT. Looks like alphabet soup. But what do they mean? If you think these all relate to risk management, you are on the right track. The difference lies in their primary focus/objective and the methodology. Before we dig deeper into the different frameworks, let’s first define what risk management Read more…
Over the past decade, business owners have become quite privy to the dangers and signs of fraud schemes. While credit card alerts and vendor screenings have become almost second nature, business owners often overlook one of the most common sources of fraudulent activity — their employees. From high mortgage debts, climbing costs of living, budget Read more…
A 1031 exchange is a popular way to sell your real estate and exchange it for another piece of real estate without having to pay any tax. The tax deferral allows the taxpayer to invest more of their cash into a new property instead of the alternate scenario of paying taxes on the gain and Read more…
Pleasanton, CA, May 1, 2022 – Sensiba, a leading CPA and business-consulting firm, is proud to announce the promotion of Justin Scripps to Partner effective May 1, 2022. Mr. Scripps joined Sensiba in 2010 as an Audit Associate and grew his career within Sensiba. He works extensively with the Firm’s construction and manufacturing & distribution Read more…
The corporate scandals of Enron, WorldCom, and Tyco in the early 2000s have forever changed how management and investors view risk management programs. Circumventing controls and exposing a business to increased risk is a recipe for disaster that could result in reputational damage. Despite management’s good faith efforts to implement comprehensive risk assessments and mitigation Read more…
In this blog post, we will explain what SOX is and how your business can be compliant. We’ll also provide some resources to help you get started. What is SOX? Since signed into law in 2002, Sarbanes-Oxley (SOX) compliance has become one of the most historically significant reforms to U.S. security legislation. To increase transparency and create Read more…
There are many reasons why a person may choose to work at one company over another. From casual dress codes, unlimited vacation days, and remote work opportunities, today’s job perks run the gamut. But one employee incentive undoubtedly takes the cake regarding recruitment and retention power — equity. What is Equity in a Company? Simply Read more…
One of the most overlooked (and fascinating) industries that should be taking advantage of the Research & Development tax credit is food and beverage. Whether it’s a manufacturer of finished food products, an ingredient or flavor developer, or even brewing and distilling, there is usually a lot of interesting research and development. What Is the R&D Read more…
It’s no surprise that the long-awaited changes to lease accounting standards have caused quite the ruckus in recent years, particularly as businesses scramble to understand and implement the complex new rules. In addition to understanding the new rule’s impact on an operational level, it’s also important for businesses to prepare for the various tax implications Read more…
Access our professional-crafted First Year SOX Compliance Checklist and Guide. Achieve compliance, reduce fraud risks, and streamline processes.
In today’s economy, many small businesses are strapped for cash. They may find it beneficial to barter or trade for goods and services instead of paying cash for them. Bartering is the oldest form of trade and the internet has made it easier to engage with other businesses. But if your business gets involved in Read more…
Since the passage of the Tax Cuts and Jobs Act (TCJA) in 2017, individuals who itemize their federal tax deductions have been limited to a $10,000 deduction for state and local income taxes (“state taxes”). This has impacted taxpayers in high tax states like Oregon. What is a Pass-Through Entity Elective Tax (PTE-E) A pass-through Read more…
New standards have been released for reporting on financial statements of employee benefit plans (EBP). The changes are intended to enhance the quality and transparency of ERISA plans for both the participants and reporting agencies (i.e. ERISA, DOL, etc.) by prescribing certain audit procedures. Under the new standard, “limited-scope” audits will now be referred to Read more…