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Monthly News & Updates May 2025 | Issue 4-25
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Well hello May! New month, filled with fresh opportunities and important updates. We are dedicated to keeping you informed about the latest tax and accounting news that will shape your financial landscape this month as we are getting ready for Summer.
From all of us at LNB, Happy Mother’s Day to moms everywhere!
| | Understanding Tariffs: What is the Intersection of Tariffs and Tax, and Its Implications for Tax Practitioners? | Listen to this podcast from the tax practitioners community as we discuss the intersection of tariffs and tax. The conversation covers the basics of tariffs, their implications for US-based businesses, and how tariffs interact with transfer pricing and inventory valuation. The guests also share practical advice for mitigating costs associated with tariffs and discuss the importance of careful planning and strategic decision-making in the current landscape. | | IRS Tax Relief Programs: How to Get Help with Tax Debt. | Why should we pay taxes? The answer is simple: To help fund government programs and services that benefit the public. It's a citizen duty. The IRS is not the enemy of taxpayers. The agency has a tax relief program that offers various options to help taxpayers who are struggling to pay their tax debts. If you owe a tax debt and can't pay all or part of it, the IRS can help. You have options to resolve your tax bill. Listen to this podcast as our tax team explains these different options for you. | | To keep your tax-exempt status in California, you must be formed and operating as a charity or nonprofit, file your tax return and pay your balance due and maintain your records with the Attorney General's Office (AG), the California Secretary of State (SOS) and the Internal Revenue Service (IRS). Read this article to find out what are your nonprofit filing requirements. | | Environmental groups are anticipating attempts to revoke their tax-exempt 501(c)(3) status, and some are vowing to fight any such attempts. | | AUDIT AND OTHER COMPLIANCE NEWS | | In California, charitable nonprofit organizations with gross revenues of $2 million or more are required to have their financial statements audited annually by an independent CPA. This requirement is part of the California Nonprofit Integrity Act of 2004. The audit must be conducted in accordance with generally accepted accounting principles and made available for inspection by the Attorney General and the public. | | A Private Fund is an entity created to pool money from multiple investors that is not required to be registered or regulated as an investment company under the Investment Company Act. Private Funds can differ, however, in how they pool money and how they deploy that money. Read this article directly from the SEC website if you are interested in starting a Private Fund. Stay tuned for our podcast to discuss more on this topic this month. | | 401(k) Eligibility Explained: Who Qualifies & When? | 401(k) plans have become the cornerstone of retirement planning in America. For employees, they offer a pathway to financial security. For employers, they serve as a powerful tool for attracting and retaining talented professionals. But before anyone can benefit, they must first understand the eligibility requirements. | | Fireside Chat Rewind: State of the 2025 Venture Capital as seen by investors. | We invite you to listen to the recording of our last month fireside chat, where our esteemed panelists shared their invaluable perspectives on a range of dynamic topics, including Global VC trends & insights, the transformative power of Generative AI, the impact of tariffs on global ventures, and the crucial ESG trends shaping our future. | | | | |
Fireside Chat of the Month
Should you invest in Real Estate during periods of high inflation?
Date: Tuesday, May 27, 2025
12:00 - 1:15 PM Pacific Time (US & Canada)
Online.
We often get real estate market data from Redfin, Zillow, and Realtor.com. These three major U.S. housing market players often provide insights into the state of the market. However, are these data really relevant? Is investing in real estate during periods of high inflation a strategic move, as real estate often serves as a hedge against inflation? Join us as two real estate investors share their experience and insights.
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Join LNB Accounting & VC Unleashed for a Happy Hour!
LNB Accounting is absolutely thrilled to partner with VC Unleashed to host a vibrant happy hour in San Francisco on May 29th, from 5:30 – 7:30 PM, bringing together investors, founders, and operators in the venture capital and startup ecosystem for an evening of connection and collaboration, complete with food, drinks, good vibes, and great conversations. This is a fantastic opportunity to network and build relationships within the Bay Area's thriving startup community, and we can't wait to see you there for an unforgettable evening!
VC Unleashed is a non-profit dedicated to increasing representation in the VC ecosystem and will be bringing together their current & alumni community with the support of LNB Accounting and Finix.
We look forward to seeing you there!
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LNB Diversity VC Innovator Awards
2025 Edition Coming Soon!
(Previously LNB BIPOC VCs Recognition Night)
The LNB Diversity VCs & Innovation Awards (LNB-DVCIA) is back for another edition with a new name, new format, and new partners. This meaningful community outreach program, the first of its kind, is an annual event to honor those from the VC industry who pave the way for future generations. Stay tuned for more details and click on the picture to watch the video of the previous edition.
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🎉 After an absolutely smashing success at the 2023 edition, which we pulled off in style with the collaboration of Hanson Bridgett and La French Tech San Francisco, we are beyond thrilled to roll out the red carpet for the 2025 edition of the VC and Accounting Conference! 🚀
Are you a VC, angel investor, fund manager, banker, auditor, accountant, lawyer, or advisor? If you fit any of these roles, this conference is tailored just for you! Join us for a dynamic gathering where VCs and industry-leading accounting and financial service providers come together to connect, exchange ideas, and catalyze growth. This is your golden ticket to gain invaluable insights from seasoned industry experts who will shine a light on the critical VC trends poised to shape the future of your investments. And that's not all—prepare to be dazzled at our Innovators Pitch Contest, where you'll witness innovation in action and discover groundbreaking ideas from some talented innovators. Don’t let this opportunity slip through your fingers; it’s a chance to invest in your own knowledge and network, ensuring you stay ahead in the fast-paced world of finance. Mark your calendars—this is one event you won’t want to miss!
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THANK YOU NOTE!
We want to take a moment to express our heartfelt gratitude to our incredible clients and partners. Your trust and support mean the world to us, and it's this foundation that allows us to build lasting relationships. We are truly honored to be a part of your financial journey, and we remain committed to providing personalized service tailored to your unique needs. Thank you for being an essential part of our community; together, we can achieve great things!
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Audit and Assurance, In-Charge
| | Hello! I'm happy to introduce myself as a proud member of the LNB Accounting Audit team. With a wealth of expertise in auditing, financial analysis, and general accounting, I navigate the complex financial landscape with the precision of a maestro conducting a symphony of clarity and insight. My leadership in audit and assurance engagements spans a diverse range of clients, including local and state governments, nonprofit organizations, and public companies. This ensures that every client we serve receives not just exceptional service, but a steadfast assurance that their financial integrity is in the best of hands. As a licensed Chartered Accountant, I bring a treasure trove of knowledge in critical areas such as single audits, IT risk compliance, and SOX compliance testing—leaving no stone unturned in delivering reliable and insightful audit services. Moreover, my role as a board member of a nonprofit organization underscores LNB Accounting’s commitment to social responsibility and community engagement. I genuinely look forward to the opportunity to collaborate with you as your auditor in charge, ensuring that you receive the highest level of care and professionalism from our dedicated team. | | | | | |
