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Retirement Plan Options for Small Businesses
The American Institute of Certified Public Accountants and the U.S. Department of Labor have teamed together to produce an online video that helps small business owners understand the differences in the variety of retirement plans available. The video is titled "Choosing a Retirement Solution for Your Small Business" and can be downloaded for free at http://www.dol.gov/ebsa/compliance_assistance.html#23section7 . The video is located in the section titled "For Small Employers." A corresponding booklet titled "Choosing a Retirement Solution for Your Small...
Rated 4.75 of 5
IRS Stakeholder Liaison Assistance for Schedule C Filers
Help for Schedule C Filers On May 21, 2008 the Internal Revenue Service (IRS) Stakeholder Liaison section is offering a free National Phone Forum for schedule C filers titled "Calling All First Time Schedule C Filers." The seminar is designed for individuals, small business owners,...
Rated 5 of 5
Unclaimed Research & Development Tax Credits
The following article was written by Chuck Bennett who is a Director with Tax Projects Group, LLP, a national tax consulting firm that specializes in performing R&D Tax Credit Studies. Unclaimed Research & Development Tax Credits Manufacturing companies often qualify, but don't...
Rated 5 of 5
Business Benefits of the 2008 Economic Stimulus Act
On February 21, 2008 the Internal Revenue Service released IR-2008-22 which details the benefits for businesses included in the 2008 Economic Stimulus Act. The two main provisions included in the stimulus package for businesses are fifty percent special depreciation allowance and an increase in...
Rated 5 of 5
2008 Economic Stimulus Plan Forces Seniors to File In Order to Receive Rebates
The late decision to include seniors as part of the 2008 Economic Stimulus Plan is causing many seniors to consider filing a 2007 return. That is because only those individuals who file a 2007 return will be eligible to receive the rebate checks from the government. It has been estimated that...
Rated 5 of 5
Newly Improved Publication 17
The Internal Revenue Service has now included over 800 hyperlinks within Publication 17. This allows users of Publication 17 to access information more quickly. The hyperlinks are in both the pdf and HTML version. The HTML version is also accessible to the visually impaired. You can find both...
Rated 5 of 5
Help in Choosing a Tax Preparer?
On February 20, 2008 the Internal Revenue Service (IRS) Stakeholder Liaison section is offering a free National Phone Forum on "Choosing a Tax Preparer." The seminar is designed for individuals, small business owners, industry associations and tax professionals. The following topics...
Rated 4.66667 of 5
IRS provides guidance on the highly debated issue of Independent Contractor vs Employee
IRS provides guidance on the highly debated issue of Independent Contractor vs Employee The Internal Revenue Service recently issued a fact sheet titled "Employment Taxes and Classifying Workers" (FS-2007-27). This fact sheet provides guidance on whether a worker should be...
Rated 5 of 5
IRS Announces 2008 Cost-of-Living Adjustments
December 11, 2007 IRS Announces 2008 Cost-of-Living Adjustments The following is a list of items affected by the IRS cost-of-living adjustments for 2008 which can be found in IRS Rev. Proc 2007-66 (http://www.irs.gov/irb/2007-45_IRB/ar19.html): .01 Tax Rate Tables .02 Unearned Income...
Rated 5 of 5
IRS Sets New Guidelines for Contingent Fees
December 7, 2007 IRS Sets New Guidelines for Contingent Fees In the past, the IRS has taken a strong stance against all forms of contingent fees. The recently released circular 230 revisions issued by the Treasury Department allow tax professionals to charge based on contingent fees...
Rated 5 of 5
2008 Federal Standard Mileage Rates
November 29, 2007 Under Revenue Procedure 2007-70, the Internal Revenue Service has issued the standard mileage rates for 2008. The standard mileage rate for cars, vans, pickup trucks or panel trucks will be increasing to 50.5 cents per mile starting January 1, 2008. The standard mileage rate...
Rated 5 of 5
Ohio New Hire Reporting Requirements
November 16, 2007 Ohio employers are required to report newly hired or rehired employees and contractors to the State of Ohio New Hire Reporting Center. The information collected is matched with state and national data to help collect child support and reduce fraudulent unemployment and...
Rated 5 of 5
