Tangible Property Regulation Changes
The IRS has issued final regulations on the tax treatment of amounts paid to acquire, produce, or improve tangible property (i.e. buildings, furniture, equipment, supplies). These new regulations explain when those payments can be expensed
Mid-Year Retirement Plan Amendments Allowed Under Court Decision
The IRS in Notice 2014-37 is allowing certain 401(k) and 403(m) retirement plans, including 403(b) plans, to make midyear amendments to reflect the U.S. Supreme Court’s Windsor decision. The Supreme Court struck down Section 3
How Financial Institutions Use Audit Information
The hoops your business must jump through to satisfy your financial institution will vary based on the size of the requested loan and the perceived risk. Perceived risk is reflected in the interest rates charged
There’s More to Estate Planning Than Saving Taxes
For many people, estate taxes have gone the way of buggy whips and typewriters. Estate planning may be an activity for only the super-rich. The estate tax exemption is now up to $5.34 million. With
Should IRS Outsource Debt to Collection Agencies?
Twice during the last 18 years – in 1996 and again in 2003 – the IRS has attempted to outsource the collection of tax debts to private collection agencies. Both times the programs lost money.
Does Your Business Need a Board of Directors?
Putting together a board of directors can be an intimidating task, but one that could potentially add long-term value and strength to your company. A strategically assembled, independent board of directors contributes many important functions
Audit Coming? How to Prepare
If your organization is facing an audit, it’s important to be well prepared before the auditors arrive. Dedicating the necessary time and resources to prepare your company for the audit is a good investment. A
IRS Releases 2014 Vehicle Depreciation Deductions
The IRS has issued the annual tables providing the depreciation deductions available to owners of passenger automobiles, trucks and vans first placed in service during calendar year 2014. For passenger automobiles, the deduction limitations for
Keep Tips Aboveboard – Not Under the Table
With tax filing season in full swing, it’s a good time to review whether you’re reporting the correct amount of income on your tax return. If you or a family member worked at a job
Audit, Review & Compilation: How CPA reports differ?
Many companies provide their financial statements, along with a CPA’s report, to lenders, investors, suppliers and customers. Informed readers of the report will gain varied levels of comfort based on the type of financial statement
Do You Have a Valuable Collection? Are You Protecting It?
Many of us have collections – some valuable, some not. The wealthy are particularly avid collectors, according to a new study. Nearly six in ten high net worth households collect valuable items that they keep
Five Tips for Choosing the Right Charity for Your Donation
You want to give to a charitable cause, but you can’t decide which one because you receive so many solicitations. How do you know which one to give to – and where your hard-earned dollars
