Insights

 New Episode: Partner Bridget Foreman, CPA joins Veronica Kusmuk on a new episode of Charting Her Course, a podcast brought to you by the Pacific Coast Business Times that gives an inside look at women who own and run small businesses on California’s Central Coast. Bridget shares what she’s learned over the course of…

Real estate investors should weigh important issues and changes in real estate taxation to strategically position their investments. Following, we highlight key tax considerations for real estate investors in 2023. With a number of unusual and unpredicted trends stemming from the pandemic, the economy is emerging with a long list of uncertainties as we head…

  Tax Season 2023 officially begins on Monday, January 23, 2023 when the IRS will begin accepting and processing returns.   We hope that everyone in California is safe and recovering after the recent winter storms impacted communities across the state. Our hearts go out to those affected and as we remember the lives lost…

  While 2022 started out with some uncertainty about potential tax law changes, very few of the proposed policies that may have impacted high income taxpayers were enacted. The Inflation Reduction Act signed into law in August spared virtually all measures that would have raised taxes on individual taxpayers and closely held businesses. There are…

  It’s the time of year when we’re immersing ourselves in fall sports, thinking about the holiday season, preparing budgets for next year, and of course, planning year-end tax strategies. Year-end tax planning for businesses will come with more certainty than in recent years. The passage of the Inflation Reduction Act provided closure for many…

SANTA BARBARA, CA – September 15, 2022 – Bartlett, Pringle, & Wolf, LLP (BPW) was recently named one of the “2022 Best Midsized Accounting Firms to Work For” by Accounting Today. BPW has received this award 10 times for its workplace culture and professional excellence in the industry. Each year, Accounting Today and Best Companies Group present the…

The Inflation Reduction Act (the Act) was recently signed into law on Aug. 16 and contains a number of provisions to increase IRS funding, raise taxes on large corporations, incentivize renewable energy usage, and reduce the cost of prescription drugs. IRS Funding and Resulting Changes The increase in IRS funding has garnered attention due to…

SANTA BARBARA, CA – September 1, 2022 – Bartlett, Pringle & Wolf, LLP (BPW), a leading accounting and consulting firm based in Santa Barbara, CA, is pleased to announce the promotion of Crystal A. Knepler to the position of partner with the firm. BPW is the largest accounting firm on the Central Coast with 7…

Portability is often an effective, go-to estate planning strategy that could make a considerable difference for taxes owed on larger estates, especially with today’s generous exemption amounts. In a recent ruling, the IRS took steps to make filing for portability even easier. More Time to Settle Estate Revenue Procedure 2022-32 now grants a surviving spouse…

Nonprofits that receive contributions of nonfinancial assets are subject to new financial reporting rules. Because of the nature of nonprofits and the far-reaching impacts of this standard, it’s important to be apprised of these changes and prepare for the additional requirements. What are Gifts-in-Kind? Also known as in-kind donations, gifts-in-kind are charitable non-cash contributions in…