Articles
When is tax day in 2021?
In 2020, the Treasury Department and the IRS extended the tax filing dates for businesses and individuals. However, the current dates for filing in 2021 have not been extended. LEARN MORE
Balance sheet rules for S corps
An S corporation is a business entity that passes almost all of its finances through to its shareholders. These finances include: income, losses, tax deductions, tax credits… LEARN MORE
What are the tax impacts of hiring more employees?
One example is hiring full time, part time, or seasonal employees, reporting and depositing taxes is no different. However not part of employee withholdings is FUTA paid for by employers only. LEARN MORE
Preparing for taxes in 2021
There will be a number of tax changes for 2021 how can you personally and professionally make the most of them? LEARN MORE
CA business tax basics
Small businesses make up a majority of all businesses operating in California and are a crucial part of the state’s economy. For SMB owners, understanding their tax obligations may be challenging…LEARN MORE
3 keys to avoiding business audits
While statistics show that one out of a hundred businesses are audited by the IRS every year, you want to avoid being that one business. LEARN MORE
3 construction accounting mistakes to avoid
Construction companies face some unique challenges when it comes to the accounting side of their business. Each job results in direct as well as indirect costs that can be broken up into a variety of categories, making it complicated to keep track of…LEARN MORE
4 reasons that car dealers go bankrupt
An accounting error can cause a domino effect, creating inventory issues and other costly decisions. We provide services and on-site training specifically tailored to the automotive dealership industry in California.LEARN MORE
What is ERISA?
The federal government passed the Employee Retirement Security Act (ERISA) in order to provide Americans with protection against misuse of their retirement contributions and more. GYL will help your business with full compliance…LEARN MORE
Quickbooks training in San Diego
QuickBooks is a great tool when setup properly. As part of our business services you will get all the software benefits and a CPA to improve finances, avoid over-taxation and protect your investments plus more.LEARN MORE
What makes a good manufacturing CPA?
A CPA with in-depth knowledge of the industry, as a whole, as well as laws and financial requirements that apply specifically to your business; manufacturing in California, U.S.A. LEARN MORE
Paycheck Protection Program (PPP) Loan Audits: Everything you need to know
The SBA’s Office of the Inspector General will be conducting PPP loan audits to verify that businesses meet the forgiveness qualifications and that claims for loans are accurate. LEARN MORE
Rancho Cucamonga coronavirus resources
The Rancho Cucamonga community, like other communities across the U.S., is facing a public health crisis as a result of the COVID-19 pandemic. The pandemic is also affecting the financial health of small businesses as well as individuals. LEARN MORE
How Coronavirus is impacting car dealerships
Shortages, delays, lease expirations combined with the decline in sales has the auto dealership owners revamping their sales strategy. We specialize in your industry and can help you successfully navigate through this economic downturn. LEARN MORE
How small businesses can survive an economic recession
With a customized approach GYL will work with you to recession proof your business and improve your company’s financial health now and for the future. LEARN MORE
Reviewing employee retirement plan
Our services include expertise with ERISA audits for employee benefit plans. GYL has undergone and passed scrutiny by the AICPA peer review and DOL. LEARN MORE
501(C)(3) Financial audit checklist
501(C)(3) Financial audit: Not for profit businesses will benefit from a team that understands their audits and has the experience identifying growth opportunities and risks. LEARN MORE
What accountants do that software doesn’t
Accounting software is a line by line calculation whereas a professional understands past, current and the future of your business. LEARN MORE
Car dealers are preparing for these changes in 2020
Recent car buying trends indicate a change in consumer habits. Many people are choosing to buy a pre-owned vehicle vs a higher priced new car. LEARN MORE
Rules for investing in presidential election years
The Presidential Election Cycle Theory, developed by Yale Hirsch, proposed a set of correlations between stock market performance vs. the specific year of a president’s term. LEARN MORE
The Inland Empire continues to grow
The Inland Empire is experiencing a red hot commercial real estate market. The result is many people are investing in businesses and assuring their success with an experienced business accounting firm. LEARN MORE
Car dealership marketing ideas
Increase sales with creative marketing for your dealership. Then assure you get the most out of your increased revenue. LEARN MORE
Is it time to fire your business accountant?
Reasons to dismiss your accountant or CPA and how to protect your critical business data. LEARN MORE
Your business shouldn’t rely too heavily on accounting software
Automated accounting systems reduce time and manpower, however programs don’t identify omissions, errors and fraudulent activity. LEARN MORE
Growing industries in the Inland Empire
Since 2011 I.E. has enjoyed steady job growth creating hundreds of thousands of jobs in the areas of logistics, healthcare and construction. LEARN MORE
Business accounting & management tips Q4
Q4 is the time to maximize end of year profits and strategize end of fiscal year and 2020 taxes.LEARN MORE
Quickbooks files deleted by your CPA?
Big mistakes, small mistakes, potential mistakes, are all costly to your business. LEARN MORE
Could you really open your own car dealership?
Yes, if you have a passion for automobiles and are ready to be your own boss, then opening a dealership may be right for you. LEARN MORE
The 3 rules to manufacturing industry accounting
How does “lean accounting” differ from “lean manufacturing”? Its focus is cash flow because inventory doesn’t pay the bills. LEARN MORE
The role of dealership reconciliation
Is an effective tool with respect to controlling costs and ensuring maximum profits. LEARN MORE
Will your life be what you planned in 10 years?
In a decade what area of your life do you want to master? Is it attainable? LEARN MORE
Your next 5 year business plan
A good 5 year business plan should be clear and concise and without superfluous items that distract potential investors. LEARN MORE
Employee stock ownership plan
An employee stock ownership plan or ESOP provides benefits for employees of a company and for its owners. However, ESOPs have their pros and cons.LEARN MORE
Can your accountant help with tax planning
Yes, by staying up to date on tax laws and legislation and incorporating that into the financial plan for the year. And by identifying possible future liabilities and opportunities as well.LEARN MORE
What to know before you hire an accountant
If you’ve made the decision to hire an accountant for your business, the first step is to define the scope of the job before recruiting potential candidates. LEARN MORE
Accounting consultant benefits
When and why is it a good time to hire an accounting consultant? LEARN MORE
When should a small business hire an accountant?
When you’re starting a small business, there are times when it’s warranted to bring in a CPA, even if it’s just part-time. LEARN MORE
Tax considerations for business mergers
Selling, buying or merging business can affect you for a long time. We’ll advise you on understanding the tax implications, current contracts and redundant associates to name a few… LEARN MORE
It’s time for a new CPA. Here’s how you know…
Are you considering replacing your accountant or CPA or other business advisor? Let’s review why and how…LEARN MORE
The top questions you should be asking your CPA
Hiring a CPA for you business is a must and is well worth the extra expenditure in the long run. Most CPA’s provide a range of services, from help with monthly bookkeeping duties, to payroll processing and taxes, to tax and audit representation. LEARN MORE
1031 Exchange Rules for investors in 2019
The 1031 Exchange was put into place in order to allow real estate investors the option of moving their investment capital from one property to another without having to pay capital gains taxes during the of the transaction. LEARN MORE
Common mistakes that you can avoid when opening a new car dealership
While starting a new business can be exciting, it won’t be too long until you start running into some challenges. The key to being able to handle these challenges is preparation and planning. LEARN MORE
Managing commercial real estate risk before it’s too late
New legal fail-safes have been put into place to help avoid another mortgage lending crisis. It’s important for you to protect your investments. LEARN MORE
Common car dealership tax filing mistakes
The car dealership business is complex in nature, owners must take the time to consider how various aspects of the business will affect how their taxes should be filed. LEARN MORE
CTA – Who we serve

Tax rules specific to the construction industry
While most states don’t impose sales or use tax on construction services, they do consider contractors to be consumers of the supplies and materials used in their projects, and, therefore require contractors to pay a sales or use tax at the time of purchase. LEARN MORE
Agreed upon procedures engagement for Not-for-Profit companies
There may be times when a non-profit has specific accounting needs that can’t be satisfied by traditional accounting services. A “non-traditional engagement” may be needed in cases like these. LEARN MORE
How an ESOP Plan could work or you
One of the most common forms of employee ownership in the U.S., ESOPs make it possible for employees to own part or all of the company that employs them. LEARN MORE
How to do inventory calculations for auto dealerships
Managing the inventory of your auto dealership is important because it gives you a good idea as to effectiveness of your sales staff and whether costs are being controlled. LEARN MORE
What you need to know before starting your Not-for-Profit business
If you’re considering starting a non-profit business, what you need to know is that it’s a lot more involved than starting a for-profit business… LEARN MORECTA – Your tax planning guide
CPA estate planning services
There are several benefits to including the services of a CPA when planning for your estate. The most important factor to consider is the extensive knowledge that a CPA has when it comes to taxes. LEARN MORE
Are Employee Stock Ownership Plans (ESOP) best for your company?
ESOP’s are a type of retirement plan designed to primarily invest in company stock. A benefit to its employee participants at essentially no cost to the employees. LEARN MORE
Strategic succession planning for your business
Statistics have shown that seven out of ten family owned businesses don’t survive the transition from the first to the second generation of owners. LEARN MORE
We represent construction companies against the IRS
The construction industry has some of the most complex and often-litigated tax intricacies. Having experienced representation during an audit is essential to a successful outcome. LEARN MORE
Business succession planning
A business succession plan makes it very clear as to who will take over your business when you decide it’s time to retire or you simply want to sell your business and move on to some other enterprise. It’s also a good idea to have one in place in case you become ill, disabled, or die. LEARN MORETestimonial
263A cost capitalization calculations
Section 263A of the IRS Code details the uniform capitalization rules or UNICAP for business owners when it comes to cost capitalization calculations. LEARN MORE
Checklists for accounting firm peer review
All accounting firms are required to undergo peer reviews if they are members of the American Institute of CPAs (AICPA). Peer reviews are conducted at least once every three years. The AICPA provides peer review checklists for team and review captains which are generally updated every year. LEARN MORE
OMB A-133 compliance supplement information for non-profit organizations
If your not-for-profit organization has expenditures of federal grants and awards equal to or over $750,000 in a single year, you are required to undergo a Single or OMB A-133 Audit as per regulations established by the U.S. Office of Management and Budget. LEARN MORE
Manufacturing industry tax credit deductions
On July 1, 2014, California manufacturers and certain research and developers qualified for a partial exemption of sales and use tax on the purchase and/or lease of specified manufacturing and research and development equipment. In 2018, California Assembly Bill 398 extended and expanded on the original bill to include agricultural processing as well as electric power, storage, and distribution. LEARN MORE
Construction assurance services
Construction assurance auditing can be a very valuable tool when it comes to identifying problems, determining solutions to them, and improving overall outcomes. LEARN MORECTA – What makes us different
Automotive dealership compliance auditing services
The laws and regulations governing the way that automotive dealerships are doing business are becoming more stringent. Compliance is essential to the success of today’s dealerships. LEARN MORE
The pros and cons of taking out a business loan right now
In the past, small business owners turned to banks and credit unions for their loans, but with disapproval rates as high as 80%, the small business owner needs to consider other loan options. LEARN MORE
How taxes on gifts actually work
According to the IRS, a gift is “Any transfer to an individual, either directly or indirectly, where full consideration is not received in return.” Paying the gift tax in the responsibility of the donor…LEARN MORE
Big tax mistakes that small business owners should avoid
If you’re a small business owner, taxes can present a real challenge for you. Many small business owners end up making costly mistakes by either failing to comply with tax laws or with filing requirements. LEARN MORE