Every year, it’s a sure bet that there will be changes to current tax law, and this year is no different. From standard deductions to health savings accounts and tax rate schedules, here’s a checklist of tax changes to help you plan the year ahead.
Continue readingThis January marks the return of Wheeler’s Shred Day!
Stop by our Watsonville office on Friday, January 20th or our San Jose office on Saturday, January 21st, and as a courtesy we will shred your unwanted paper (limit 3 boxes per client).
Acceptable items include credit cards & gift cards (packaged separately), paperclips, staples, and rubber bands. Unacceptable items include batteries, matches, electronics, metal, cardboard, binders, binder clips, x-rays, CD’s, DVD’s, plastic sleeves, e-waste, pens, and garbage. No RSVP necessary.
We hope to see you there!
Watsonville:
17 Aspen Way, Watsonville, CA 95076
San Jose:
1475 Saratoga Ave #100, San Jose, CA 95129
2022 is coming to a close and, as in past years, Wheeler Accountants will be matching employee contributions to the charity of each participant’s choice.
This proud Wheeler tradition is held in place of sending holiday cards to our clients and referral sources, and we believe it is a great way to honor the spirit of giving during what can be a tough time of year for many. The process is the same annually: any employee can choose a qualifying public charity or private foundation and make their donation, which the firm will then match (up to $50).
We thank our participating employees for their generosity and for keeping this tradition alive!
We are deeply saddened to inform you that our colleague and friend Keith Plottel passed away on Wednesday, December 14. His long and rich career has been an inspiration to many, and we’d like to take a moment to honor his legacy.
Keith was a gifted leader, and his mentorship has left a lasting impact on our team, his clients, Los Gatos, and the broader tax community. After beginning work in his family’s jewelry business, Harris Jewelers, he headed to San Jose State University, obtaining a degree in Environmental Studies 1974. In 1982 Keith obtained a degree in Accounting after going back to school. His first role after college was in public accounting at Petrinovich, Pugh and Jones, CPAs. He then formed his own practice in 1987, serving Los Gatos and beyond for over 20 years, and winning “Best CPA of Los Gatos” on five occasions. He was a former member of the Santa Clara County Bar Association, the Santa Clara County Estate Planning Council, and served as a member of the Board of Directors for a number of local organizations.
15 years ago, he merged with LMGW (now Wheeler) as an opportunity to slow down, but recognized that the firm was in need of an experienced leader, so he took on the role of Managing Partner from October 2007 through December 2014. He was pivotal to the success and growth of the business through some challenging years, helping us become the firm we are today.
He provided his clients with reliable guidance without fail, as well as excellent leadership for our staff. He engaged with countless tax professionals over the course of his career. He was a walking encyclopedia of tax knowledge, and always the first to jump in with answers on our “tax talk” email thread whenever another team member had a question. He loved his work and was so generous with his wealth of knowledge.
In addition to being a successful accountant, real estate developer and investor, and valued community member, Keith was an avid traveler, truly valuing the experiences he gained through exploring the world and also the ocean through his love of scuba diving. But of all the roles Keith played in his life, beloved husband, father, and grandfather were the most significant to him. He leaves behind two sons, Timothy and Zachary, four grandchildren, Kryslin, Kyle, Jackson and Isaac, and his wife Mollie Drake. Our heartfelt condolences go out to his family.
Thank you, Keith, for the unconditional loyalty and leadership you showed to your clients and colleagues. You will be missed greatly by all who were fortunate enough to get to know you both professionally and personally.
Sincerely,
The Wheeler Accountants Team
Cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for 2023 are as follows:
Continue readingRecipients of Paycheck Protection Loans (PPP) should be aware that when a taxpayer’s loan is forgiven based upon misrepresentations or omissions, they are not eligible to exclude the forgiveness from income. They must, instead, include in income the portion of the loan proceeds that were forgiven based upon misrepresentations or omissions.
Continue readingFarmers and ranchers forced to sell livestock because of drought conditions may have more time to replace their livestock and defer tax on any gains from the forced sales. If you are a farmer or rancher affected by drought conditions, here is what you need to know about this important tax relief extension.
Continue reading
As a small business owner, you may be able to deduct advertising and marketing expenses that help bring in new customers and keep existing ones. Even better is that these deductions help small businesses save money on their taxes. Here’s what you need to know about this valuable tax deduction:
Continue reading
As we close out the year and get ready for tax season, here’s what individuals and families need to know about tax provisions for 2022.
Continue reading
