Lucas Horsfall is Growing

February 7, 2019By Lucas Horsfall

On January 1st, 2019, Charles, Blank & Karp merged with Lucas Horsfall.  It was announced by the two managing partners, Mike Amerio and Jim Karp, respectively.  The combined firm will be known as Lucas Horsfall.

Charles, Blank and Karp traces back to a firm founded in Beverly Hills by Max Seiff in the 1920s and operating over the generations under a sequence of names reflecting its succeeding partners.  The firm has operated out of San Fernando Valley for many years.

Jim Karp, managing partner of Charles, Blank and Karp, said that the merger with the larger Lucas Horsfall firm will give his clients deeper in-house resources and experience.  “Over the years we helped launch and enlarge a number of businesses only to pass along their care to much larger CPA firms.  We now have the resources to serve larger companies”, he said.  “With Lucas Horsfall we also have the kind of in-house specialties that only larger accounting firms offer, such as expertise in international taxation.”

Amerio said, “Our merger with Charles, Blank & Karp is significant because it adds to our growing geographical reach.  Charles, Blank and Karp’s generations of relationships with successful businesses and families in Beverly Hills and the San Fernando Valley, fits hand-in-glove with the personal relationships that have been our strength in the Pasadena and San Gabriel Valley areas where our home office is located.”

Revenue Recognition and Lease Accounting Changes

January 23, 2019By Lucas Horsfall

There’s a lot of buzz about the changes in Revenue Recognition guidelines and the changes in Lease Accounting standards.  The new Revenue Recognition guidance could change the timing of recognition and the changes in Lease Accounting standards could significantly impact your organization.

Recently, Lucas Horsfall put on a Seminar, which gave an overview of the changes to Revenue Recognition and the new Lease Accounting standards.   It was well attended and there was much discussion about the changes to come.

For your reference, we have included the presentations from the Seminar in pdf form.  For further questions, please contact our office.

Thank you.

Leases Topic

Revenue Recognition Topic

A Big Congratulations to Mike Amerio, Mike Sovik and Chris Sailes!

September 20, 2018By Lucas Horsfall

Mike Amerio, Mike Sovik and Chris Sailes participated in the Nautica Malibu Classic Triathlon this past weekend.  The Classic Triathlon consists of swimming in the ocean at Zuma Beach (Sovik), biking on the Pacific Coast Highway (Amerio) and a running to Point Dume State Beach (Chris).  The combined distance for the three events was 21.50 miles.  The team finished the three course in 2 hours, 22 minutes and 23 seconds.

Congratulations to Amerio, Sovik and Chris – they did an amazing job!

Tax Reform Seminar / US International Tax Basis Webcast

March 13, 2018By Lucas Horsfall

Congress passed one of the most extensive tax reform packages in a generation.  The latest reform bill has far reaching consequences for businesses and individuals.

In January, the firm hosted a “Tax Reform Seminar” at the California Club, in L.A.  The event was well received and informative for our clients.  We hope to do this again in the future, if you are interested in attending please email shartel@lhmp.com

The Tax Reform presentation is available for your review, if you are interested you can download it here.

US-International Tax Basis Webcast in 20 minutes by Leslie Sobol.  Download presentation here.

M&A Around the World

October 18, 2017By Gaurav Malhotra

Global M&A activity saw an increase in 2017.  We are fortunate to members of MSI Global Alliance.  Through this association we can provide our clients access to 250 law and accounting firms around the world.  Our member firms are actively working in advising businesses on both sides of the transactions.  Here is the latest M&A newsletter from our association.

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Audits Don’t Appear to Be a M&A Prerequisite Anymore

September 25, 2017By Gaurav Malhotra

We have had the busiest year in our firm’s history performing Quality of Earnings (Q of E) services.  We have worked for Private Equity Firms, Search Funds, sellers, and businesses looking to raise capital.  Certainly, the level of activity in the market has increased.  In addition to that I think that the market is favoring the segment we work in- Middle Market.  Until last year most buyers demanded 2-3 years of audited financials before considering a target. (more…)