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QuickBooks Scam

It’s no secret that scammers are continuously looking for new ways to reinvent common scams, especially when it comes to phishing emails. Phishing emails are meant to look real, but trick you into clicking [...]

By | January 25th, 2017|Uncategorized|

Business Buy-Sell Agreements

This is the time of year when many business owners are planning for the new year, evaluating last year’s performance and goal setting. Many will prepare a budget or business plan, review their year-end financial [...]

By | January 24th, 2017|Tax, Uncategorized|

What Healthcare Changes and Implications Should We Expect Under Trump?

As expected, much of Presidential debate involved healthcare issues and, specifically, Trump’s wish to repeal the Affordable Care Act (ACA). But what will be the effect of repealing the ACA? Rand Corp reports that [...]

By | January 17th, 2017|Healthcare, Uncategorized|

Employee vs. Contractor

Third party relationships have become more important as companies look to leverage outside expertise. As relationships evolve, management needs to keep a close eye to determine if the third party contractor has become [...]

IRS Extends 1095-C and 1095-B Deadline

In November, the IRS extended the deadline for employers to furnish Forms 1095-C and/or 1095-B to employees and covered individuals. The forms, which are required under the Affordable Care Act’s employer reporting mandate, are [...]

Key Tax Filing Deadlines Changed

Due dates for certain tax returns for the 2017 tax filing season (returns for 2016) and beyond have been changed. The changes, based on the tax year being the calendar year, are highlighted in [...]

By | December 15th, 2016|Uncategorized|

Municipal Market Potentially at Risk with Trump Infrastructure Plan

With the upcoming changes in the political arena, interest on municipal bonds is at risk of becoming subject to federal income taxation. Under the current U.S. tax code, when investors lend money to local [...]

By | December 15th, 2016|Tax, Uncategorized|

Some Tax Rates and Amounts for 2017

FICA base — Annual compensation to which Social Security tax applies is $127,200 for 2017 (up from $118,500 for 2016). Social Security benefits — Individuals who are drawing Social Security benefits prior to attaining [...]

By | December 15th, 2016|Tax, Uncategorized|

IRS Penalties for Information Returns

Penalties for failure to file correct information returns (e.g. W-2s, 1099s, 1098s, 1042s) are subject to annual inflationary increases per Section 208 of Public Law 113-295. These penalties are based on the period of [...]

By | December 6th, 2016|Uncategorized|

Ensure Your Year-End Donations Will Be Deductible on Your 2016 Return

Donations to qualified charities are generally fully deductible, and they may be the easiest deductible expense to time to your tax advantage. After all, you control exactly when and how much you give. To [...]

By | December 6th, 2016|Tax, Uncategorized|