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PlushStone Advisory Tax & Accountancy

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Rancho Santa Margarita, CA
PlushStone Advisory Tax & Accountancy

PlushStone Advisory is a relationship focused CPA firm helping businesses make educated decisions.

Plushtone Advisory, Tax, and Accountancy is led by Sean Autry, a CPA with over 10 years of diverse experience. With a bachelor's degree from California State University, Fullerton, Sean spent 3 years at Deloitte and Touche where he performed financial statement and internal control audits of various investment investment fund structures and financial services companies. Subsequent to Deloitte, Sea

n spent 4 years at loanDepot, a national mortgage banking institution where as the Director of Corporate Accounting he oversaw the corporate and mortgage accounting function and participated in the financial reporting and analysis. Since then, Sean has dedicated his career to bringing the sophistication and expertise of the corporate world to small businesses and their owners. He focuses intently on maintaining strong personal relationships with his clients, and helps them to achieve their goals in business through thoughtful financial analysis, tax planning, and ongoing and respnosive communication.

08/22/2024

🚨 Attention Business Owners: New Reporting Requirements with SIGNIFICANT Penalties!

Starting now, failing to comply with the new beneficial ownership reporting requirements could cost you $591 per day past due, a $10,000 fine, and potentially 2 years in prison.

The U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) has launched a nationwide PSA campaign to educate the small business community about these new rules. TV, radio, digital, and print ads are being used to reach business owners and ensure compliance.

📢 Key Highlights:
Nationwide PSA Campaign: TV and radio announcements to spread awareness.

Beneficial Ownership Reporting: Essential for transparency and legal compliance.

Educational Outreach: Visit fincen.gov/BOI for detailed information on filing requirements.

Stay informed and compliant to avoid severe penalties. At PlushStone Advisory, Tax & Accountancy, we can help you navigate these new requirements and keep your business compliant.

💡 Contact us today for expert guidance!

Read more about it here:
https://home.treasury.gov/news/press-releases/jy2530

08/20/2024

💼 IRS Recovers Billions in Back Taxes from High-Income Individuals!

The IRS has successfully collected billions of dollars from high-income individuals who owed back taxes. This aggressive enforcement action highlights the agency's commitment to closing the tax gap and ensuring that everyone pays their fair share.

🔍 Key Highlights:
Billions Recovered: Significant recovery of unpaid taxes from high-income earners.

Targeting Wealth: Focused enforcement on individuals with substantial incomes.

Enhanced IRS Efforts: Improved capabilities and data analytics driving success.

Taxpayer Fairness: Promoting fairness and supporting public services.

Read the full article to understand the scope and impact of this initiative: https://www.thetaxadviser.com/news/2024/jul/irs-collects-billion-from-high-income-people-who-owed-back-taxes.html

At PlushStone Advisory, Tax & Accountancy, we specialize in tax compliance and advisory services to help you navigate complex tax laws and avoid penalties. Let our experts ensure your tax matters are handled accurately and efficiently.

💡 Contact us today to stay compliant and stress-free!

08/16/2024

🚨 Important Tax Update for Business Owners! 🚨

The Qualified Business Income (QBI) Deduction, introduced by the Tax Cuts and Jobs Act, has been a significant tax benefit for many businesses, allowing for a 20% deduction on qualified business income. However, this valuable deduction is at risk of expiring soon, which could result in higher tax liabilities for business owners.

At PlushStone Advisory, Tax & Accountancy, we're closely monitoring this situation. We're here to help you understand the potential impact on your business and to provide strategic tax planning to mitigate any negative effects.

If you rely on the QBI deduction, now is the time to review your tax strategy. Our expert team is ready to assist you in navigating these changes and optimizing your tax position.

📞 Contact us today to schedule a consultation and stay ahead of the curve.

For more information, visit: https://www.cnbc.com/2024/07/16/qualified-business-income-deduction-could-expire.html

08/15/2024

🚨 Important Update for Businesses! 🚨

The IRS has recently issued disallowance letters to 28,000 businesses concerning the Employee Retention Credit (ERC). This action is part of a significant moratorium adjustment that affects the processing of ERC claims.

The ERC was designed to help businesses keep employees on the payroll during the pandemic, but with these new letters, many businesses might face challenges in claiming the credit.

At PlushStone Advisory, Tax & Accountancy, we're committed to guiding you through these complex changes. If your business received a disallowance letter or if you're concerned about the moratorium adjustment's impact on your ERC claims, our knowledgeable team is here to assist.

Don't let these updates catch you off guard. Reach out to us for expert advice and support to ensure your business remains compliant and informed.

📞 Contact us today to schedule a consultation and stay ahead of the curve.

Read more here: https://www.thetaxadviser.com/news/2024/aug/erc-disallowance-letters-go-to-28k-businesses-moratorium-adjusted.html

08/07/2024

☀️ Outsource Your Accounts Payable to PlushStone Advisory! ☀️

Are you tired of the headaches that come with managing your accounts payable? Let PlushStone Advisory, Tax, & Accountancy Inc take the load off your shoulders!

Here are the top benefits of outsourcing your accounts payable function to a professional CPA firm like ours:
🔹 Time-Saving: Focus on growing your business while we handle your invoices, payments, and vendor relationships efficiently.
🔹 Cost-Effective: Reduce overhead costs and avoid the need for additional in-house staff. Pay only for the services you need.
🔹 Expertise & Accuracy: Our experienced team ensures that your accounts payable are managed accurately and timely, minimizing errors and discrepancies.
🔹 Enhanced Security: Protect your financial data with our secure, confidential, and compliant processes.
🔹 Better Cash Flow Management: Improve your cash flow with precise tracking and timely payments, keeping your business financially healthy.
🔹 Advanced Technology: Benefit from our state-of-the-art accounting software, providing you with real-time insights and easy access to your financial data.

💼 Ready to streamline your accounts payable and boost your business efficiency?
Contact PlushStone Advisory, Tax, & Accountancy Inc today!
📞 Call us at 949-455-5353
📧 Email us at [email protected]

08/06/2024

☀️Unlock Hidden Potential with a Fractional CFO! ☀️

Is your business ready to scale but needs expert financial guidance? At PlushStone Advisory, Tax, & Accountancy Inc., we offer top-notch fractional CFO services that can revolutionize your financial strategy.

Here's how we can help:
🔍 Identify Unknown Risks & Opportunities: A fractional CFO doesn't just manage your finances—they dig deep to uncover hidden risks and opportunities, ensuring your business stays ahead of the curve.
📈 Strategic Planning & Growth: With our expert guidance, you'll develop solid financial strategies tailored to your business goals, paving the way for sustainable growth.
💡 Optimize Cash Flow: Our fractional CFOs provide detailed cash flow analysis and forecasting, helping you make informed decisions and maintain smooth operations.
🤝 Strengthen Investor Relations: We help you build strong relationships with banks, lenders, and investors, providing compelling financial projections and strategic insights.

Learn more about the transformative power of a fractional CFO in this insightful article: How a Fractional CFO Can Help Your Business - https://tipalti.com/financial-operations-hub/fractional-cfo/ #

📞 Contact us to find out how PlushStone Advisory, Tax, & Accountancy Inc. can elevate your business to new heights!

07/31/2024

🚨 Plan Ahead for the Unexpected with Smart Tax Breaks! 🚨

Life is full of surprises, but your tax planning doesn't have to be one of them. A recent article from Forbes highlights how proactive tax breaks and strategic planning can help you navigate unexpected financial challenges.

🔍 Key Takeaways:
Emergency Fund Contributions: Utilize tax-advantaged accounts to build a safety net.
Charitable Donations: Maximize deductions while supporting causes you care about.
Retirement Planning: Take advantage of tax breaks for retirement savings to secure your future.
Health Savings Accounts (HSAs): Save on taxes while preparing for medical expenses.

As your trusted accounting firm, PlushStone Advisory, Tax & Accountancy is here to help you make the most of these opportunities. Our expert team can guide you in:
✅ Identifying and leveraging relevant tax breaks
✅ Strategizing to minimize your tax liability
✅ Ensuring compliance with the latest tax laws and regulations

💬 Don’t wait for the unexpected to catch you off guard. Reach out to us today for personalized advice and planning.

📞 Contact us to schedule a consultation. (949) 455-5353

🔗 Read the full Forbes article here
https://www.forbes.com/sites/kellyphillipserb/2024/07/20/tax-breaks-planning-can-help-you-deal-with-the-unexpected/

07/29/2024

🚨 ATTENTION SMALL BUSINESS OWNERS 🚨

Are you aware of the recent issues surrounding Small Business Administration (SBA) disaster loans and the hefty late fees being imposed? 📉

🔍 According to a recent article by The Wall Street Journal, many small businesses are facing unexpected challenges with disaster loans, leading to significant financial strain. Late fees and penalties are adding up, creating an additional burden for already struggling businesses.

💼 As your trusted accounting and advisory firm, we at PlushStone Advisory, Tax & Accountancy are here to help you navigate these challenges. Our team can assist you in:

✅ Reviewing your disaster loan status and ensuring timely payments to avoid penalties.
✅ Providing expert advice on financial management to keep your business on track.
✅ Exploring alternative funding options to support your business during tough times.
✅ Offering comprehensive tax planning to maximize your savings and minimize liabilities.

💬 Don't let late fees and penalties add to your stress. Reach out to us today for personalized guidance and support. Together, we can secure the financial health of your business.

📞 Contact us to schedule a consultation. (949) 455-5353

Source: https://www.wsj.com/business/small-business-disaster-loans-late-fees-826a33c2

07/24/2024

📢 California Budget Tax Changes: What You Need to Know! 🏛️💼

Attention California businesses! 📢 The state has recently enacted Senate Bill 167, introducing several tax changes aimed at addressing the budget shortfalls for the upcoming years.

Here’s a quick rundown of what you need to know:
📜 New Tax Measures Enacted: California has introduced significant tax changes as part of the 2024 budget.
💼 Increased Corporate Tax Rates: Corporate tax rates for businesses with over $1 million in annual income have increased from 8.84% to 10.84%.
💸 Expansion of Earned Income Tax Credit: The Earned Income Tax Credit (EITC) has been expanded to provide more support for low-income families.
🌿 Green Energy Incentives: New incentives have been introduced to encourage investments in renewable energy and green technology.
🏠 Housing Development Tax Credits: Tax credits for affordable housing developments have been increased to address the state's housing crisis.
🛒 Sales Tax Changes: Adjustments have been made to the sales tax structure to include certain digital products and services.
📊 Impact on Businesses: Businesses should review these changes and adjust their tax strategies accordingly to remain compliant and optimize tax liabilities.

📢 Stay Informed: Follow us for more updates on how these changes might affect you and your business.

source: https://kpmg.com/us/en/home/insights/2024/07/tnf-california-budget-tax-changes-enacted.html

07/22/2024

Attention Employers: Did you know about the Work Opportunity Tax Credit?

The Work Opportunity Tax Credit (WOTC) can be a valuable financial benefit for your business! 💼

As a CPA, I'm always looking for ways to help businesses save money and invest in their workforce. The WOTC is a federal tax credit available to employers for hiring individuals from certain target groups who face significant barriers to employment.

Here’s why you should consider it:
🌟 Benefits:
1. Tax Savings: Reduce your federal tax liability by up to $9,600 per eligible employee.
2. Diverse Workforce: Promote workplace diversity and inclusion by hiring individuals from target groups such as veterans, ex-felons, and long-term unemployed.
3. Community Impact: Support your local community by providing opportunities to those who need it most.

📋 How It Works:
1. Hire from Target Groups: Identify and hire employees from WOTC-eligible groups.
2. Certification: Obtain certification for each eligible employee from your state workforce agency within 28 days of their start date.
3. Claim the Credit: File IRS Form 5884 and Form 3800 with your federal income tax return to claim the credit.

🔗 Learn More: Visit the IRS website or contact me for detailed guidance on how to leverage WOTC for your business. Let’s maximize your tax savings and make a positive impact together!

Source: https://www.dol.gov/agencies/eta/wotc

07/17/2024

🚨 ATTENTION BUSINESS OWNERS: Pay $0.00 in Federal taxes on the sale of your business! 🚨

🔍 Did you know there's a powerful tax incentive that could potentially save you a ton on capital gains taxes? Meet Section 1202 Qualified Small Business Stock (QSBS)! 💼✨

As your trusted CPA firm, we want to share this incredible opportunity to maximize your tax savings. Here's why you should care about QSBS:

🚀 100% Exclusion on Gains: If you qualify, you could exclude up to 100% of your capital gains from federal taxes when you sell your QSBS. Imagine the potential savings! 🤑

📈 Boost Your Business Value: This exclusion can make your business more attractive to investors, potentially driving up its value and appeal. ⭐️

🔐 Eligibility Perks: To qualify, your business must be a C corporation, and there are specific criteria to meet. But don't worry, we're here to guide you through every step. 📋✅

💬 Ask Us How!: Curious if your business qualifies? Want to learn more about leveraging QSBS for maximum benefit? Drop us a message or schedule a consultation today!

📞 Let's Talk Savings: Reach out to our expert team at PlushStone CPA to explore how Section 1202 QSBS can work for you. Don't miss out on this game-changing tax advantage!

🌟 Ready to unlock this hidden gem? Contact us today and let's make the most of your business potential together! ✨💼📈

Source: https://carta.com/learn/startups/tax-planning/qsbs/

07/15/2024

🚨 Breaking News: Federal Court Halts FTC Noncompete Rule 🚨

A significant development in the accounting and business world: a federal court has issued an injunction against the Federal Trade Commission's (FTC) noncompete rule. This ruling comes after a lawsuit filed by Ryan, a prominent tax services firm based in Dallas, and the U.S. Chamber of Commerce. The noncompete rule, initially set to take effect on September 4th, aimed to limit agreements that prevent employees from working for competitors, thereby promoting fair competition and employee mobility.

Ryan’s chairman, G. Brint Ryan, has praised the court’s decision, describing it as a crucial victory against what he terms as government overreach. He argues that the noncompete rule would have unfairly restricted businesses and stifled innovation. On the other hand, the FTC remains firm in its stance, emphasizing that the rule is essential for protecting workers' rights and fostering a competitive job market.

This legal battle highlights the ongoing debate over the balance between regulatory oversight and business freedom. The injunction is a temporary measure, and the FTC plans to continue its efforts to implement the rule, which they believe is vital for curbing abusive employment practices.

Stay tuned for more updates on this developing story.

Read more: https://www.accountingtoday.com/news/ryan-lawsuit-halts-non-compete-rule?utm_source=linkedin&utm_medium=newsletter&utm_campaign=closing-entries

Address

29829 Santa Margarita Pkwy, Suite 100
Rancho Santa Margarita, CA
92688

Opening Hours

Monday	8am - 6pm
Tuesday	8am - 6pm
Wednesday	8am - 6pm
Thursday	8am - 6pm
Friday	8am - 6pm

Website

https://www.plushstonecpa.com/

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