The latest tax law includes important depreciation changes that will benefit businesses for the 2013 tax year (and 2012 if you haven’t filed yet). Under Section 179, a business can deduct qualifying assets (including most software) in the year they are placed in service — rather than writing them off over several years under...
Read more →A new study by the nonpartisian Tax Policy Center (TPC) has found that many households would pay higher taxes under the President’s budget proposal, but that the lion’s share of the increased tax burden would fall on the wealthiest Americans—in particular, on the top 1% of earners. Read the Full Article to examines the...
Read more →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...
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