ASLCPA https://aslcpa.com/ San Jose CPA Firm Thu, 28 May 2026 15:56:08 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://aslcpa.com/wp-content/uploads/2024/07/cropped-favicon-32x32.png ASLCPA https://aslcpa.com/ 32 32 Potential Refund Opportunity for Penalties and Interest Paid to IRS https://aslcpa.com/refund-opportunity-penalties-interest-irs/ Wed, 27 May 2026 00:55:45 +0000 https://aslcpa.com/?p=11398 A recent Federal Court of Claims decision, Kwong v. United States, may create a refund or abatement opportunity for taxpayers who paid or were assessed certain IRS penalties or interest during 2020 to 2023.

The case does not automatically …

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]]> A recent Federal Court of Claims decision, Kwong v. United States, may create a refund or abatement opportunity for taxpayers who paid or were assessed certain IRS penalties or interest during 2020 to 2023.

The case does not automatically …

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]]> Excess Business Loss Limitation: Now a Permanent Tax Planning Issue https://aslcpa.com/excess-business-loss-limitation-tax-planning/ Tue, 19 May 2026 13:46:51 +0000 https://aslcpa.com/?p=11396 Last summer’s One Big Beautiful Bill Act (OBBBA) contained a number of provisions that businesses can use to generate sizable deductions and reduce their tax burden. These include accelerated depreciation methods such as bonus depreciation and Section 179 expensing, as …

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]]> Last summer’s One Big Beautiful Bill Act (OBBBA) contained a number of provisions that businesses can use to generate sizable deductions and reduce their tax burden. These include accelerated depreciation methods such as bonus depreciation and Section 179 expensing, as …

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]]> Abbott, Stringham & Lynch Announces Acquisition of Finance and Accounting Solutions Firm, ArightCo https://aslcpa.com/abbott-stringham-lynch-acquires-finance-accounting-solutions-firm-arightco/ Thu, 14 May 2026 15:01:48 +0000 https://aslcpa.com/?p=11384 Campbell, CA (May 14, 2026) – Abbott, Stringham & Lynch (ASL), a full-service CPA firm in Silicon Valley, is pleased to announce it has acquired San Jose-based ArightCo, an integrated finance and accounting partner for mid-sized organizations.

Since 2008, ArightCo …

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]]> Campbell, CA (May 14, 2026) – Abbott, Stringham & Lynch (ASL), a full-service CPA firm in Silicon Valley, is pleased to announce it has acquired San Jose-based ArightCo, an integrated finance and accounting partner for mid-sized organizations.

Since 2008, ArightCo …

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]]> The QBI Deduction Is Now Permanent: Time for a Fresh Look https://aslcpa.com/qbi-deduction-business-owners/ Thu, 30 Apr 2026 16:29:30 +0000 https://aslcpa.com/?p=11379 When the Internal Revenue Code Section 199A qualified business income (QBI) deduction was first enacted, it was scheduled to expire after 2025. Last summer’s One Big Beautiful Bill Act (OBBBA) changed that, making the 20% deduction a permanent part of …

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]]> When the Internal Revenue Code Section 199A qualified business income (QBI) deduction was first enacted, it was scheduled to expire after 2025. Last summer’s One Big Beautiful Bill Act (OBBBA) changed that, making the 20% deduction a permanent part of …

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]]> How to Plan for Nonprofit Leadership Succession https://aslcpa.com/plan-for-nonprofit-leadership-succession/ Tue, 03 Mar 2026 18:51:39 +0000 https://aslcpa.com/?p=11301 Planning for leadership succession is one of the most important, but also most neglected, governance responsibilities of nonprofit boards. According to BoardSource, only 23 percent of nonprofits have a written succession plan in place.

Failing to proactively plan for …

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]]> Planning for leadership succession is one of the most important, but also most neglected, governance responsibilities of nonprofit boards. According to BoardSource, only 23 percent of nonprofits have a written succession plan in place.

Failing to proactively plan for …

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]]> Is Your Nonprofit Classified Correctly? https://aslcpa.com/nonprofit-classification/ Tue, 24 Feb 2026 14:24:32 +0000 https://aslcpa.com/?p=11298 Charitable organizations are defined by the IRS as “organizations organized and operated exclusively for religious, charitable, scientific, testing for public safety, literary, educational, or other specified purposes and that meet certain other requirements.” Such organizations are tax-exempt under Internal Revenue …

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]]> Charitable organizations are defined by the IRS as “organizations organized and operated exclusively for religious, charitable, scientific, testing for public safety, literary, educational, or other specified purposes and that meet certain other requirements.” Such organizations are tax-exempt under Internal Revenue …

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]]> Accounting Best Practices: Why You Should Close Your Books Every Month https://aslcpa.com/accounting-best-practices-nonprofits/ Thu, 19 Feb 2026 15:51:53 +0000 https://aslcpa.com/?p=11291 Making smart nonprofit decisions requires accurate financial reporting and “good numbers.” The best way to accomplish this is by implementing a formal month-end closing process for your accounting books. While most nonprofits realize the importance of a year-end close for …

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]]> Making smart nonprofit decisions requires accurate financial reporting and “good numbers.” The best way to accomplish this is by implementing a formal month-end closing process for your accounting books. While most nonprofits realize the importance of a year-end close for …

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]]> How the 2025 Act Reshapes QSBS Federal Tax Benefits https://aslcpa.com/qsbs-obbba/ Thu, 05 Feb 2026 14:06:08 +0000 https://aslcpa.com/?p=11266 By David Lim, CPA, Tax Senior

Qualified Small Business Stock (QSBS) is one of the most powerful tax incentives for founders, early employees and investors in U.S. startups. Governed by Section 1202 of the Internal Revenue Code, this provision allows …

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]]> By David Lim, CPA, Tax Senior

Qualified Small Business Stock (QSBS) is one of the most powerful tax incentives for founders, early employees and investors in U.S. startups. Governed by Section 1202 of the Internal Revenue Code, this provision allows …

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]]> Technology and AI: Reshaping Nonprofit Processes to Allow for a More Mission-Driven Focus https://aslcpa.com/nonprofits-technology-ai/ Wed, 04 Feb 2026 19:18:29 +0000 https://aslcpa.com/?p=11273 Nonprofits often have limited resources, including lean teams frequently burdened by a significant volume of manual, routine and repetitive tasks. They also face high community expectations and growing operational demands. When a significant amount of time is spent performing repetitive …

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]]> Nonprofits often have limited resources, including lean teams frequently burdened by a significant volume of manual, routine and repetitive tasks. They also face high community expectations and growing operational demands. When a significant amount of time is spent performing repetitive …

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