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man riding a black bull

Naming the New Year: 2024 “Bucking Bull”

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Like many people, I enjoy a good tradition.

Whether it is a familiar tradition like the family vacation or nightly family dinners, One of our favorite Traditions is Naming the New Year.

The New Year Name is chosen before the new year starts and will reflect important plans, challenges, obstacles, etc. ahead in the New Year.

Typically We’ve used a simple nomenclature = action + name

For instance,

  • 2019 – “Riding Tiger”
  • 2020 – “Running Bear”
  • 2021 – “Soaring Eagle”
  • 2022 – “Hanging Man”
  • 2023 – “Hungry Hummingbird”
  • 2024 – “Bucking Bull”

Why is this important?

In my experience, the tradition of naming the New Year has been at times inspirational, accurate and foreboding.

2023 “Hungry Hummingbird”, for example, was pretty accurate for the volatile Housing Markets and true to form, unexpected but awesome, rebound of the Stock Markets.

As entrepreneurs and business owners, it is important to work IN your business as well as work ON your business. The New Year name helps us associate an idea larger than any 1 person and at the same time focus 100% on the work at hand.

2024 “Bucking Bull” will be a year of energy, enthusiasm and competition. Much like riding a Bucking Bull, Smart Business will navigate uncertain economy and avoid getting dragged into uncontrolled situations. It will be more important then ever to stay enthusiastic and align your journey with competitive advantages.

A lot of people probably stopped reading when I said “nightly family dinners”, but for those of you who appreciate a tradition, We wish you a happy and safe New Year and best wishes in 2024.

Info@mrarrachecpa.com

man riding a black bull
Photo by Louise Brawn on Pexels.com

Naming the New Year: 2023 “Hungry Hummingbird”

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Like many people, I enjoy a good tradition.

Whether it is a familiar tradition like the family vacation or nightly family dinners, One of our favorite Traditions is Naming the New Year.

The New Year Name is chosen before the new year starts and will reflect important plans, challenges, obstacles, etc. ahead in the New Year.

Typically We’ve used a simple nomenclature = action + name

For instance,

  • 2019 – “Riding Tiger”
  • 2020 – “Running Bear”
  • 2021 – “Soaring Eagle”
  • 2022 – “Hanging Man”
  • 2023 – “Hungry Hummingbird”

Why is this important?

In my experience, the tradition of naming the New Year has been at times inspirational, accurate and foreboding.

2022 “Hanging Man”, for example, was pretty accurate when compared to the ferocious reverse of primary trends in Housing and Stock Markets.

As entrepreneurs and business owners, it is important to work IN your business as well as work ON your business. The New Year name helps us associate an idea larger than any 1 person and at the same time focus 100% on the work at hand.

2023 “Hungry Hummingbird” will be a year of restless hovering, extreme territorialism and mass migration. Much like a Hungry Hummingbird, Smart Business will only pursue positive-cash-flow opportunities OR move on to the next flower.

A lot of people probably stopped reading when I said “nightly family dinners”, but for those of you who appreciate a tradition, We wish you a happy and safe New Year and best wishes in 2023.

Info@mrarrachecpa.com

Photo 116469594 / Hanged Man © Vvictori 

Naming the New Year: 2022 “Hanging Man”

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Like many people, I enjoy a good tradition.

Whether it is a familiar tradition like the family summer vacation or something simple like nightly family dinners, the “remember and repeat” activities carry much importance on celebrating the past and planning for the future.

One tradition we enjoy Naming the New Year.

The New Year Name is chosen before the new year starts and will reflect important plans, challenges, obstacles, etc. ahead in the new year.

Typically I’ve used a simple nomenclature = action + name

For instance,

  • 2019 – “Riding Tiger”
  • 2020 – “Running Bear”
  • 2021 – “Soaring Eagle”
  • 2022 – “Hanging Man”

Why is this important?

In my experience the tradition of naming the New Year has been at times inspirational, accurate and foreboding.

2021 “Soaring Eagle”, for example, was pretty accurate for the Housing and Stock Markets that are still continuing to Roar into the New Year.

As entrepreneurs and business owners it is important to work IN your business as well as work ON your business. The New Year name helps me associate an idea larger than any 1 person and at the same time focus 100% on the action in front of me.

2022 will be a year of sacrifice and surrender but prime for contemplation and changing perspective.

A lot of people probably stopped reading when I said “nightly family dinners”, but for those of you who appreciate a tradition, I wish you a happy and safe New Year and best wishes in 2022.

If you have traditions please share in the comments below or email to

Info@mrarrachecpa.com

Photo 116469594 / Hanged Man © Vvictori 

New Year Nomenclature: 2021 “Soaring Eagle”

/0 Comments/in /by

Like many people, I enjoy a good tradition.

Whether it is a grandiose tradition like the annual family vacation or a simple routine like weeknight family dinners, the “remember and repeat” activities carry much importance on celebrating the past and where we are going.

One tradition that is very similar to naming a new pet, car or ship; I name the new years.

The New Year Name is chosen before the new year starts and will reflect important plans, challenges, obstacles, etc. ahead in the new year.

Typically I’ve use a simple nomenclature = action + animal name

For instance,

  • 2019 – “Riding Tiger”
  • 2020 – “Running Bear”
  • 2021 – “Soaring Eagle”

In my experience the tradition of naming the new year has been at times inspirational, accurate and foreboding. 2020 “Running Bear” was right on the money.

Why is this important?

As entrepreneurs and business owners it is important to work in your business and on your business. The New Year Name helps me associate an idea larger than any 1 person and at the same time focus 100% on the action in front of me.

2021 will be a year of hard work and no short cuts but prime for new and continued growth.

A lot of people probably stopped reading and are hiding in there bedroom when I said “weeknight family dinners”, but for those of you who appreciate a tradition, I wish you a happy and safe New Year and best wishes in 2021.

If you have traditions please share in the comments below or email to

Info@mrarrachecpa.com

Taxes Next Week, Next Month and Next Year

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2021 is coming, dun dun dun….

For some people that is good news, for some people that is like 4 more years of covid.

Here’s some tax buzz to look out for in the coming weeks, months, years.

Read more

California Franchise Tax Board answers important questions related to Recent Federal COVID-19 Response

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The FTB has posted the following new FAQs about conformity to various portions of the CARES Act:

Q: Are the payments that individuals receive from the federal government (i.e., $1,200 [$2,400 for individuals filing a joint return] and $500 per qualifying child) under the recently enacted federal CARES Act subject to California income tax?

A: No, these payments are not subject to California income tax.

Q: Is the emergency increase in unemployment compensation benefits (in the amount of $600 per week) that individuals receive under the recently enacted federal CARES Act subject to California income tax?

A: No, these payments are not subject to California income tax.

Q: Are the modifications for net operating losses (NOLs) in the recently enacted federal CARES Act applicable for California income and franchise tax purposes?

A: No, these modifications for NOLs do not apply for California income and franchise tax purposes.

Q: Does California conform to the federal early withdrawal penalty waivers for distributions from qualified retirement accounts under the recently enacted federal CARES Act?

A: Yes, the federal early withdrawal penalty waivers for distributions from qualified retirement accounts under the federal CARES Act also applies for California income tax purposes.

The FTB’s COVID-19 FAQs can be found at:

www.ftb.ca.gov/about-ftb/newsroom/covid-19/help-with-covid-19.html