Lori E Wattelet, CPA

Lori E Wattelet, CPA We are a full-service Tax and Accounting Services firm licensed in CA. We are affordable, experienced, and friendly. Lori E.

We offer a broad range of services for business owners, executives, and independent professionals. Wattelet (LEW) brings over 15 years of experience to the table. LEW graduated with honors from California State University, Sacramento in 2009. She spent 13 years at a local accounting firm, gaining extensive knowledge in both tax and audit departments, and mastering GAAP and the Tax Code. In additio

n, LEW is a Certified Quickbooks Pro-Advisor. In addition to her public accounting experience, LEW served as a Controller for a law firm in the private sector. Her passion for client interaction led her back to public accounting, where she thrives on helping clients with their accounting needs and becoming a trusted business partner.

Sole proprietors: Are you on top of your federal tax obligations? Even if your business is small, tax compliance and pla...
09/03/2026

Sole proprietors: Are you on top of your federal tax obligations? Even if your business is small, tax compliance and planning are a big deal.

In addition to reporting business income and expenses, you may owe self-employment tax and need to make quarterly estimated payments. You might also need an employer identification number (for example, if you hire employees). State and local income, sales, payroll, and other tax requirements may apply, too. Careful planning can help you maximize deductions and choose the right retirement plan for your situation.

Contact us at (916) 297-6880 to learn more about the tax aspects of being a sole proprietor, including the reporting and recordkeeping requirements.

Grabbing lunch with a client doesn’t just build rapport. It can also trim your tax bill. Under federal tax law, you can ...
09/02/2026

Grabbing lunch with a client doesn’t just build rapport. It can also trim your tax bill. Under federal tax law, you can generally deduct 50% of qualifying business meal costs. Whether you're dining with clients, partners or employees, these deductions can reduce your taxable income. Keep detailed records of the expenses, including receipts. Document the business purpose of each meal and the business relationship of the people you dine with. Contact us at (916) 297-6880 with any questions about this deduction.

Accurate bookkeeping starts with understanding how debits and credits work. Under double-entry accounting, total debits ...
09/01/2026

Accurate bookkeeping starts with understanding how debits and credits work. Under double-entry accounting, total debits must equal total credits. Assets, liabilities, equity, revenue and expenses each follow specific debit and credit rules. These entries ultimately flow into your business’s balance sheet, income statement and statement of cash flows. Accounting software can automate many bookkeeping tasks, but it can’t always determine how to record and classify transactions properly. If you have bookkeeping questions, contact us at (916) 297-6880. We can help you maintain accurate, up-to-date financial records and produce reliable financial statements.

Donating artwork, antiques, collectibles or other tangible personal property that has appreciated in value can produce v...
08/31/2026

Donating artwork, antiques, collectibles or other tangible personal property that has appreciated in value can produce very different tax results depending on the charity’s use of the item. If the use directly supports the organization’s mission — such as an antique donated to a museum for its collection — you may be able to deduct fair market value. But if the item will be used for another purpose, such as being sold at a fundraising auction, your deduction may be limited to what you originally paid for it. Contact us at (916) 297-6880 before making a donation to discuss your potential deduction and the applicable substantiation requirements.

Recent tax law changes made the New Markets Tax Credit permanent. This program encourages private investment in economic...
08/27/2026

Recent tax law changes made the New Markets Tax Credit permanent. This program encourages private investment in economically distressed communities by offering federal income tax credits to qualifying investors.

If your business invests in a certified community development entity (CDE), you may be eligible for a credit equal to 39% of your investment over seven years. Alternatively, your business may benefit indirectly by receiving CDE financing for renovations, equipment, expansion or other eligible projects in qualifying low-income communities.

We can help you estimate the potential tax or financing benefits and comply with the applicable requirements. Call us at (916) 297-6880 to learn more.

The 40% generation-skipping transfer (GST) tax generally applies to transfers made to people two generations or more bel...
08/26/2026

The 40% generation-skipping transfer (GST) tax generally applies to transfers made to people two generations or more below you, like your grandchildren. And it applies on top of any gift or estate tax due. The good news is that a large GST tax exemption is available: $15 million for 2026. So most taxpayers don’t need to worry about the GST tax. But if you have a large estate, you can allocate your GST tax exemption to contributions to a dynasty trust and allow assets to skip several generations of taxation. Contact us at (916) 297-6880 to learn more.

When owners provide funds to their businesses, proper classification matters. Depending on the facts and circumstances, ...
08/25/2026

When owners provide funds to their businesses, proper classification matters. Depending on the facts and circumstances, an advance may be classified as debt or an equity contribution under U.S. Generally Accepted Accounting Principles (GAAP). Relevant considerations include the intent to repay, the terms of the advance and the business’s ability to repay. How an advance is treated in tax filings and other records may provide additional evidence about the parties’ intentions. Clear documentation from the start can help support the appropriate treatment and related disclosures. Call us at (916) 297-6880 for help classifying and reporting shareholder advances.

Are you paying yourself and family members who work in your business reasonable compensation? The IRS requires compensat...
08/24/2026

Are you paying yourself and family members who work in your business reasonable compensation? The IRS requires compensation (including salaries, bonuses and perks) to reflect services performed and be comparable to compensation for similar roles in similar organizations. This is especially important for owner-employees and related parties. Payments to relatives may be deductible, but only if they represent reasonable wages for bona fide services and are well documented. Excess compensation may be reclassified as nondeductible distributions of income, while underpaying may raise payroll tax issues. Regularly reviewing compensation practices can help reduce audit risk. Call us at (916) 297-6880 for guidance.

Your employees use Form W-4, “Employee’s Withholding Certificate,” to tell you how much federal income tax to withhold f...
08/20/2026

Your employees use Form W-4, “Employee’s Withholding Certificate,” to tell you how much federal income tax to withhold from their pay. Most forms are routine, but an altered certificate, unusual accompanying statement or IRS lock-in letter may require special handling. Employers generally aren’t responsible for verifying the information employees provide on W-4 forms. However, you must reject invalid forms, apply proper withholding rules when no valid form is on file and follow IRS withholding instructions. Reviewing your payroll procedures now can help prevent costly errors. Contact us at (916) 297-6880 for guidance on W-4 compliance and other payroll withholding issues.

I had the opportunity to be the breakfast and coffee sponsor of the Roseville Area Chamber of Commerce’s Non Profit Roun...
08/20/2026

I had the opportunity to be the breakfast and coffee sponsor of the Roseville Area Chamber of Commerce’s Non Profit Roundtable meeting.

It was wonderful to meet representatives from local non profits and learn about their programs and fundraising techniques. I shared my insight on the importance of the 990 for an organization as it provides information to donors and grantors about a non profits programs and accomplishments in addition to financial information.

It was a very nice morning and I very much enjoyed the experience. Thankful to the Roseville Area Chamber of Commerce for offering these industry specific round tables and providing opportunities to be involved as a sponsor.

Address

2999 Douglas Boulevard, Suite 180
Roseville, CA
95661

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Monday 9am - 5pm
Tuesday 9am - 5pm
Wednesday 9am - 5pm
Thursday 9am - 5pm
Friday 9am - 5pm
Saturday 9am - 12pm

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