Inside Swenson - Fall 2020 - Issue 12

A quarterly glance inside Swenson Advisors, LLP

HOLIDAY WISHES from everyone at Swenson Advisors to all of our friends, clients and their families for peace and happiness during this Thanksgiving and Christmas season and throughout the coming year. – Steve Austin


Swenson’s 1st Annual SwenDay at the Fallbrook Food Pantry: A GREAT SUCCESS!

The Fallbrook Food Pantry has been diligently serving the community since 1991, offering food and promoting wellness for individuals in the greater Fallbrook area. Its programs provide nutritional support to approximately 25,000 households annually, distributing nearly 1 million pounds of food to those in need. Fallbrook’s vision is a community where the pain and suffering caused by hunger do not exist and where those in need have access to an adequate and nutritious supply of food.

“. . . because, when you’re hungry, nothing else matters”

Our team, composed of Swenson Advisors and the Swenson Children’s Foundation, as well as family members, joined together in the opportunity to serve others in a volunteer event at Fallbrook in September, which we named SwenDay. Our group spent SwenDay organizing the food supplies, cleaning and sanitizing the Pantry and doing whatever was needed to prepare the Pantry to distribute food to those in need. Swenson Advisors’ Alisia Scudder commented on the dedication and passion of the employees and regular volunteers and called the experience “inspiring and uplifting.”

We are confident that our Annual SwenDays will continue to grow and expand to accomplish the goal of serving the community for years to come!

PAYCHECK Protection Program

SwenAssurePPP Update

The purpose of the Paycheck Protection Program is to provide economic relief to small businesses and certain other entities that have been adversely impacted by the COVID-19 Pandemic. Since its inception, there have been a number of revisions to the program affecting the application process, loan term and forgiveness. SwenAssurePPP was developed to help our clients manage the process and understand its complexities and keep them apprised of changes to the program. The following is our latest update.

CLIENT SPOTLIGHT: Toolshed Equipment Rental

Toolshed Equipment Rental is a family owned and operated equipment rental company serving San Diego County, including Escondido, Vista, Oceanside, Encinitas and Chula Vista. Focusing on the construction rental market and homeowner market, Toolshed specializes in equipment rentals from trusted manufacturers such as Caterpillar, John Deere, Bobcat and many more.

From small projects to large products, Toolshed has a large range of construction equipment with over 500 items in inventory. Since opening its facility in Escondido in 2008, Toolshed has also added a sales department and buys and sells quality construction equipment nationally and internationally.

Toolshed has been a great family business (4 brothers) to work with over the years.

Welcoming our new clients

Rick Engineering

Rick Engineering is a leading engineering and consulting firm whose mission is to create resilient communities and infrastructure through innovative planning, creative design and sustainable engineering. Founded in 1955, Rick is headquartered in San Diego and has offices in California, Nevada, Arizona and Colorado to serve the western United States. Its clients come from both the public and private sectors and include city, state and federal agencies; development companies; investment groups and individual landowners; banks; hospitals; insurance companies and nonprofit institutions.

Rick has received numerous awards, and in 2018 the San Diego Business Journal named Rick the #1 Engineering Firm in San Diego.

Performance Medical Solutions

Performance Medical Solutions is a veteran owned, distinguished medical equipment supplier located in San Diego County and serving most of Southern California. Its services include providing hospitals, surgery centers, and physicians with a full spectrum of quality operating room and acute care equipment to help improve operational efficiency, reduce costs and increase the quality of patient care. In order to keep up with healthcare facilities’ needs, it has partnered with Skytron and Umano Medical to offer a wide range of innovative technologies and state-of-the-art equipment.


Swenson Advisors was excited to share sponsorship with Miami-based KSDT CPA at NASCAR’s race at Alabama’s Talladega Superspeedway on October 3. Steve Austin, Swenson Advisors’ Managing Partner, was quoted as saying "We are delighted to co-sponsor with our Integra affiliated CPA firm KSDT on Car No. 0 driven by Jeffrey Earnhardt at Talladega. Swenson, like the race cars, is always speeding to be the best CPA firm in the West!”

A week later, pouring rains added a hazardous element to the track at Charlotte (NC) Speedway in which our co-sponsored Car No. 4 competed.

AICPA and CIMA CFO National Virtual Conference
September 16-18, 2020

Steve Austin, CPA, Swenson Advisors’ Managing Partner, spoke at the AICPA and CIMA CFO National Virtual Conference in September. His Accounting Update focused on recently issued FASB pronouncements, including lessons learned on Topic 606 (revenue recognition) and Topic 842 (lease accounting including its delayed effective date for certain entities).

Click here to view presentation


Star Franchise Association is an organization whose mission is to represent all Carl’s Jr. restaurant franchisees. Its purpose is “to create a unified franchisee organization that brings together the resources, talents, creativity and knowledge of all Carl’s Jr. operators in order to allow us to maximize the value for our businesses and to promote stability and security for all franchisees within the Carl’s Jr. system.” Current membership includes over 75 companies representing over 1,200 franchise restaurants in the western United States.

The Association had its 2020 SFA Virtual Conference on November 4th, and Swenson Advisors was pleased to help make the event possible by being a “Star Sponsor” and having a virtual booth during its Vendor Show which displayed our video presentation on the new Lease Accounting Standards. Please follow the link to view the video, which asks:

“Are You Ready to Get Started?
Swenson Advisors and AccountLease™ Can Help You Implement
the New Lease Accounting Standards.”

Click here to view presentation

Upcoming event

February 4, 2021 - The Knowledge Group Webinar

Steve Austin, CPA, Managing Partner, Swenson Advisors will be a guest speaker for The Knowledge Group and will discuss “The Road to Lease Accounting Implementation: Practical Tips and Strategies to Ensure You’re Compliant.” Stay tuned – more information to follow.


Our Core Values begin with FAITH – Family, Authenticity, Integrity, Teamwork and Hospitality.

Swenson Children’s Foundation Christmas Community Outreach Update

As part of The Swenson Children’s Foundation core values in supplying daily essentials to families in need, we will be giving 1,000 pairs of socks to the homeless community this Christmas. Many thanks to our donors, who support us in being able to do great things for our community!.

Upcoming Events

  • 2020-2021 – Annual RUSH Cycle Charity Ride – Date – TBD
  • January 2021 – Announcing new strategic vision for 2021