In rather Cinderella-like circumstances, legislation—known as the “gig worker bill”—may have, at the stroke of midnight on December 31, 2019, turned hundreds of thousands of “independent contractors” into “employees.” California’s…
Author: MBAFAS
Business Survival Depends on Cash Flow Management
It’s been said that “a goal without a plan is just a wish.” Needless to say, planning is vitally important and indispensable. Planning forces a consideration of the various factors,…
More Small Businesses in 2020 Will Be Eligible for SBA Funding
The Small Business Runway Extension Act of 2018 was signed into law on December 17, 2019. It’s an amendment to the original Small Business Act that changes the size standards…
Hire a Veteran or Welfare Recipient and Get a Tax Break
As the new year approaches, taxes are probably the last thing on our minds; however tax credits should be. Here are three credits due to sunset on December 31, 2019.…
Tax Season Had October Rerun in 2019
This year, tax season took a leaf from the TV playbook, with a rerun in October. Now that the Tax Cuts and Jobs Act of 2017 (TCJA) has come into…
Don't Fail Before You Start: The Types of Business Entities that Doctors and Dentists Should Choose
Hippocrates, as every student of medicine knows, is credited with moving the practice out of the realm of superstition into the study of natural causes. But how did the great…
How MBAFAS Became A Top 10 LA Accounting Firm
MBAFAS was recently recognized as a Top 10 Accounting Firm in Los Angeles. What follows is a brief list of the attributes that contributed to this prestigious recognition and helped to…
7 Great Tips to Save on Your Business Taxes
Everyone knows what the most certain things in life are, right? Death and taxes. There’s not much we can do to avoid death’s inevitability, but you might get to deduct…
The Top 6 Benefits of Outsourcing Accounting Services
SMEs, or small- to mid-size enterprises, elect to outsource their accounting services because, for most, accounting is not a core competency. In fact, only 42% of small businesses have a…
How to Build and Grow a Successful Tax Practice
Taxes are stressful for both payers and preparers. In fact, 58% of tax preparation companies fail. MBA Financial & Accounting Solutions is one of the fortunate businesses that have not…