With just two weeks left in the 2014 calendar year, Congress finally passed the much anticipated tax extenders bill extending, for 2014 only, a number of personal and business tax breaks that had expired at the end of 2013. The recently passed bill only extends the provisions through 2014, leaving 2015 to be decided upon […]
Year: 2014
IRS Announces New Mileage Rates
The IRS has announced that the optional mileage allowance for owned or leased autos (including vans, pickups or panel trucks) will increase by 1.5¢ to 57.5¢ per mile for business travel after 2014. This rate can also be used by employers to provide tax-free reimbursements to employees who supply their own autos for business use, […]
Are you ready for the “Employer Mandate?”
The “employer mandate” is one of many provisions of the Affordable Care Act (ACA) that businesses should be planning for as we approach 2015. Many employers need to take immediate action to determine whether or not their business will be required to provide qualified health insurance benefits to their employees in 2015 or 2016. Will […]
Succession: If you Fail to Prepare…
It’s going to happen eventually. It happens to every business owner, from Bill Gates to Mark Zuckerberg to the lady who owns the restaurant on the corner. One day you will no longer be working for your business. The important question is “will your business still be working for you?” The answer to that question […]
Four Steps to Simplify your Month-End Close
Month-end can be a very stressful time for internal bookkeepers, accountants and even management. Creditors and management are eager to see the latest financial information – with important decisions hanging in the balance. What happens when upstream stakeholders are anxious? Your accounting department can feel the stress. While some accountants just accept that month-end closings […]
Use Fall Planning to Produce Spring Savings
Use fall planning to produce spring savings As an accountant, years of experience have taught me that my clients generally don’t like to spend a lot of their free time thinking about taxes. To most, taxes can be boring and tedious. Nevertheless, if you are interested in keeping more of your hard earned money, you […]
