Attorney General Bill Schuette reminds Michigan consumers to remain vigilant this tax season. The IRS recently employed four private debt collection agencies to collect some overdue federal tax debts, and collection efforts will begin this week.
Federal Judge Blocks Overtime Rule The overtime rules scheduled to become law on December 1 are an example of Washington bureaucrats’ using executive orders to force changes on businesses without considering all the facts and consequences.
By: Gene G. Smith, CPA May 10, 2016 Companies that sell products in multiple states have complex issues to consider as it relates to what tax obligations arise from their activities. Nexus is a legal term used to establish sufficient physical presence that would require companies to collect and pay sales tax, corporate tax and
If your employees are located in different cities or your business and accountant are in different cities, then it may come in handy. However, there are some limitations in the on-line version compared to the desktop version. Examples are: When viewing the checkbook register, you can only see one page of transactions and can’t scroll
The Internal Revenue Service (IRS) released a notice 12-28-2015 (Notice 2016-4) that it is extending the 2015 tax year filing deadlines for health benefits reporting required by the Affordable Care Act (ACA). This guidance applies to filings required by both small and/or applicable large self-funded employers, Forms 1094-B and 1095-B and Forms 1094-C and 1095-C respectively.
On December 18, 2015 the Protecting Americans From Tax Hikes Act of 2015 was signed into law impacting most individuals and businesses. The Act extends many favorable tax benefits and makes many others permanent. Some of the key provisions in the bill are highlighted in this letter. Permanently extends the $500,000 and $2 million limits
The Internal Revenue Service issued the 2016 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2016 the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 54 cents per mile
IRS Raises Tangible Property Expensing Threshold to $2,500; Simplifies Small Business Filing and Recordkeeping The Internal Revenue Service today simplified the paperwork and recordkeeping requirements for small businesses by raising from $500 to $2,500 the safe harbor threshold for deducting certain capital items.