News

06.01.2016 News

Reminder: Don’t Forget to File your CA Sec of State Statement of Information

California is no longer sending out paper postcards to remind CA entities to file their annual or biennial Statement of Information forms and pay the $25 fee.  Failure to file and pay timely results in a penalty of $250.  All Corporations set up with the CA Secretary of State must file a Statement of Information every year.  All LLCs set up must file every other year.  Your due date is based on the month that the entity was set up with the State.

If you’d like LMGW to perform this service for you and track it going forward, let us know!  We prepare and file these statements for many of our clients.  Don’t let it fall through the cracks.  Call us today.

21.12.2015 News

Just Passed – the Protecting Americans from Tax Hikes (“PATH”) Act

On December 18th, the Senate passed the PATH Act and made it official law.  Many popular tax breaks were set to expire on 12/31/2014 unless extended.  Most of them are now extended and some have been extended permanently.  What does this mean for you?  And should you do anything before 12/31/15 to take advantage of these new current extender laws? Read more

11.12.2015 News

LMGW Employees Give To Charity with Firm Matching In Lieu of Holiday Cards

This year, in the holiday spirit, LMGW will be making charitable donations in lieu of mailing holiday cards. We allow our employees to choose the charitable organizations to make a donation to. LMGW then matches the employee’s donation, up to $50 per person, to each charity. Below are the charities our employees chose:

  • Second Harvest Food Bank
  • David Andrew Pooh Maddan Foundation
  • St. Jude Children’s Research Hospital
  • Christian Children’s Fund
  • American Endowment Foundation
  • Unicef
  • Salvation Army
  • The Bridge School
  • Unity Care Group
  • Valley Churches United Missions
  • Humane Society Silicon Valley

If you are not familiar with any of the organizations listed feel free to ask us about them. Several members of the LMGW team are personally involved with the charities and would be happy to tell you about them!

11.12.2015 News

MyRA Now Available for Eligible Workers

The myRA program, which launched nationwide in November, is intended for taxpayers with taxable income who lack access to retirement savings plan at work.

The program was developed in response to the finding that millions of Americans lack adequate retirement savings–many because their employers do not offer a retirement savings plan at work. Read more

11.12.2015 News

Take Retirement Plan Distributions by Dec. 31

Taxpayers born before July 1, 1945, generally must receive payments from their individual retirement arrangements (IRAs) and workplace retirement plans by Dec. 31.

Known as required minimum distributions (RMDs), typically these distributions must be made by the end of the tax year, in this case, 2015. The required distribution rules apply to owners of traditional, Simplified Employee Pension (SEP) and Savings Incentive Match Plans for Employees (SIMPLE) IRAs but not Roth IRAs while the original owner is alive. They also apply to participants in various workplace retirement plans, including 401(k), 403(b) and 457(b) plans. Read more