How effective is your company’s 401(k) plan, in terms of what you hope to accomplish? This is a subject of ongoing debate in public policy forums these days. It’s a good idea occasionally to rethink your plan and the philosophy you bring to it. The process may result in making changes — or not. Either way,...
Read more →The IRS has made changes in its Voluntary Classification Settlement Program (VCSP), which allows employers to reclassify independent contractors as employees at a lower tax cost. More businesses are now eligible. A deadline is coming up on June 30 for employers who want to apply for the VCSP but didn’t file the required 1099...
Read more →Are your business system’s internal controls adequate for U.S. Government contracting? Are you ready for a contractor business system audit? If the government finds your system inadequate, it can severely affect your ability to conduct U.S. contract business. This article explains the basics.
Read more →Once you file your 2012 tax return, you can clear away some of the paperwork cluttering up your files. But save essential records that can protect you during an IRS audit, help you collect a future refund or assist you with filing next year. What records do you have to keep and which ones...
Read more →In case you missed them, here are some of the most read articles from our accounting newsletter and blog in the first quarter of 2013. Click the article title to view the full article in a new window. Will the Healthcare Law Increase Your Costs? The sweeping Affordable Care Act has provisions that have...
Read more →Will the Healthcare Law Increase Your Costs? The sweeping Affordable Care Act has provisions that have already gone into effect, as well as some major changes that will take effect in 2014. What will the new law mean for your individual health care costs — and for employers’ costs? Click Full Article for a look at what a new study...
Read more →Will the Charitable Deduction Survive Tax Reform? Despite the need for more tax revenue, the charitable deduction has generally escaped the axe thus far. But with Congress and the Obama administration exploring various ways of filling the country’s coffers, the charitable deduction is back on the chopping block. Click Full Article for details about the main proposals...
Read more →“Set it and forget it.” That’s how most companies approach their sales tax compliance processes. However, some companies have long realized the bottom line impact that can come from implementing sales tax planning strategies. It’s our hope that you’ll want to explore the five opportunities listed below so you too can optimize your company’s...
Read more →The four estimated tax deadlines for 2013 fall on: April 15, 2013; June 17, 2013; September 16, 2013; and January 15, 2014. Monday, April 15 is the deadline for the first quarterly 2013 estimated payments for calendar year taxpayers. If you make estimated payments, be aware that there have been a number of tax law...
Read more →With the ever-increasing cost of healthcare, you should be vigilant in looking for related tax deductions that are available to you. As we will explain below, a rule change taking effect this year makes tax deductions for medical expenses harder for most taxpayers, but you may be overlooking some deductible health insurance premiums that will offset...
Read more →The clock is ticking down to the tax filing deadline. The good news: There may still be an opportunity to save on your tax bill from last year. If you qualify, you can make a deductible contribution to a traditional IRA right up until the April 15, 2013 filing date and still benefit from the resulting tax...
Read more →Government contracts generally require stringent internal oversight measures to ensure that your business complies with contract terms and conditions — as well as the expectations of the government agency. For example, government contracts generally require close internal management and control of estimates, material management and accounting systems. As well, government contracts auditors evaluate other systems...
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