Chris Passmore - Social Media CPA

Happy St. Patrick's Day to my Irish and honorary Irish colleagues! The celebrations for the Withum Los Angeles team have begun and, with a pinch of luck, it will be a great day! Thank you to Pat Walsh for participating in our team's Ireland Trivia and CONGRATULATIONS to Kelli Bowlden for being our big winner. Lastly, thank you to Stephanie Riley for bringing the green this week! May the road rise up to meet you. May the wind be always at your back. May the sun shine warm upon your face, the rains fall soft upon your fields and until we meet again, may God hold you in the palm of His hand.

Recently, I had the opportunity to speak about #Tax Planning for 2025 and Beyond with Elad Goren. It was a fantastic event and thank you to the entire Financial Pointe team for this opportunity. I enjoyed talking about expected legislative changes, especially with the impending expiration of several tax cuts under the TCJA!

Recently, I had the HONOR of presenting the California Fire Foundation the below donation. Withum and our Los Angeles team are proud members of Southern California and we are happy to support our Fire Fighter community. We are blessed to have you on the front lines protecting us! And thank you to Pat Walsh and the leadership team of Withum for this amazing support.

The LARGEST crypto theft in history just happened! According to CNN, hackers from North Korea stole $1.5B (that's correct, billion) from customers of Bybit (??). This theft emphasizes the importance of comprehensive and up to date #cybersecurity policies! Withum can provide a cybersecurity assessment and health check for your #business. Reach out to me if you would like to discuss your cybersecurity. https://lnkd.in/dWffTJH4

This is not a post about politics! Rather, I thought this piece was interesting and I've tried to imagine a "penny free" life. If this article is accurate, it costs about 3.7 cents to produce and distribute a penny. And I don't have to be a sophisticated #CPA to identify that as a losing business decision. Maybe this is the right time to let the penny go. What say you? https://lnkd.in/gr8jdncC

Are you considering selling your business? If so, first and foremost CONGRATULATIONS on building a successful company and creating value for you and your family. There is a lot to consider when preparing for a transaction and one question I hear all the time is "What is the difference between an asset sale and a stock sale?" I address this question below with a brief summary of the #tax implications for you (??). Please reach out to me if you would like to discuss the sale of your #business and how to maximize your after-tax proceeds!

FREQUENTLY ASKED QUESTIONS - "Is it bad to file an extension of my income tax return?" I get this question all the time. Spoiler alert, the answer is NO! Check out my video below for more information. Please reach out to me if you would like to discuss your #IncomeTax returns!

Does your company use NetSuite (or considering switching to it)? In a prior life, my accounting team used NetSuite and it was a great accounting and finance application! Withum's Digital Solutions team is hosting a complimentary webinar on NetSuite and how to OPTIMIZE its tools for you. A link to sign up is below (??). Reach out to me to discuss how NetSuite can help you and your #business. https://lnkd.in/gzD2DC3e

In the wake of the recent wildfires in Los Angeles, have you asked yourself questions such as (1) I lost my home so do I still need to pay my mortgage? or (2) Do I still pay property taxes if my house was impacted by the fires? Unfortunately, many Angeleno's are asking these questions. Check out below for some of the answers. ?????? https://lnkd.in/gfC9B5HA

If you were impacted by the recent wildfires in Los Angeles, please note that Bank of America, Citibank, JP Morgan Chase, US Bank and Wells Fargo are offering #mortgage relief! See below for more information. ?? https://lnkd.in/gmk8Z88F