Important Supreme Court Decision for 401(k) sponsors
Yesterday, the Supreme Court ruled on Tibble v. Edison International, and the result is something that all plan sponsors should take note of. Several employees of Edison sued the public utility holding company because they believed that, as plan sponsor,…
Read moreReminder: nonprofit taxes due May 15th
A quick reminder that tax-exempt organizations who use the calendar year as their tax year must file the appropriate Form 990 or an extension by May 15th. For more details, see http://www.irs.gov/uac/Newsroom/Many-Tax-Exempt-Organizations-Must-File-with-IRS-by-May-15
Read moreLast minute reminders…
With April 15th just a couple days away, we want to remind everyone that taxpayers can receive a six month extension to file their taxes. As always, we remind you that it is not an extension for payment as your…
Read moreGood Records Key to Claiming Charitable Deductions
As the countdown to April 15th hits the home stretch, the IRS has published a series of articles guiding taxpayers through some of the trickier filing issues. One of our favorites discusses charitable giving and the importance of maintaining good…
Read moreDon’t Let Tax Issues Trip Up Your Great Idea
Late last week, the New York Times published a story that caught our eye: they profiled several entrepreneurs who ran into some complicated tax issues after running successful Kickstarter or other crowdfunding campaigns. Not only were some of these people…
Read moreIs your business using social media effectively?
Ah, social media. An industry that barely existed ten years ago is one of the most talked about parts of the internet, if not the entire business world. Everyone seems to be on it, but could your small business be…
Read moreCan you turn your hobby into a business?
Many small businesses are started when someone turns a personal interest into a money-making endeavor. But what’s the difference between a hobby and a business? And why does it matter in the first place? As with many tax questions, it’s…
Read moreIRS provides relief for small businesses from filing Form 3115
On February 13, the IRS released Rev. Proc. 2015-20, which provides a simplified method for qualifying small businesses to comply with the final tangible property regulations. Here’s an article from the Journal of Accountancy discussing the changes, and here’s a…
Read moreNow’s the time to change your withholdings!
Whether you ended up owing money or getting a refund at tax time, did you know you can modify the amount of money withheld from your paycheck? Here’s how Some people love receiving a tax refund every spring, while others…
Read moreIRS Releases Full List of “Dirty Dozen” Tax Schemes
The IRS has released all twelve of the Dirty Dozen tax schemes to look out for during the 2015 filing season. The Dirty Dozen listing, compiled by the IRS each year, lists a variety of common scams taxpayers can encounter…
Read more