Just a reminder to all of our friends that our offices will be closed from Friday 6/27/14 after noon to Monday 7/7/14 in observance of the Fourth of July holiday. We will also have limited contact via email during that period as our computer systems will also be upgraded at that time. Have a safe and Happy 4th of July.
Tags: Fourth of July
Category: Taxes
According to Wikipedia, cost segregation is is the process of identifying personal property assets that are grouped with real property assets, and separating out personal assets for tax reporting purposes. According to the American Society of Cost Segregation Professionals a cost segregation is “the process of identifying property components that are considered “personal property” or “land improvements” under the federal...
Tags: cost segregation study
Category: Taxes
Many employers outsource their payroll and related tax duties to third-party payers such as payroll service providers and reporting agents. Reputable third-party payers can help employers streamline their business operations by collecting and timely depositing payroll taxes on the employer’s behalf and filing required payroll tax returns with state and Federal authorities. Though most of these businesses provide very good...
The quality of the customer service your company provides will have an effect on the net profit of your business. Even with the best of intentions, many companies only give lip service to this very critical area. It is necessary that every employee be tuned in to how he or she can contribute to outstanding customer service – the kind...
Tags: customer service
Category: Business
Selling items on eBay and other online auction Web sites has become a very popular way to get rid of unwanted household stuff, as well as a way to turn a little profit. Many users have even started full-time businesses auctioning merchandise on the Web. But like any business venture, selling items in the virtual world has tax implications that...
Tags: Online selling
Category: Taxes
Don’t subject your business to tax penalties by misclassifying an employee as an independent contractor. The IRS is aware that employers prefer to treat workers as independent contractors to avoid paying fringe benefits and payroll taxes. In addition, certain states have more stringent requirements. If you’re not absolutely sure how to treat a given worker, contact us.
Tags: worker classification
Category: Taxes
A review of investor behavior done by a national investment company showed that the majority of workers with 401(k) plans are managing their own retirement savings accounts. Furthermore, their management “style” is passive; over half of them have not made any account changes or discussed how their investments are doing with an advisor. If you’re a “do-it-yourself” investor, you should...
You probably know that you can exclude up to $250,000 of gain ($500,000 for most joint filers) when you sell your principal residence. IRS regulations may now allow you to apply this gain exclusion when you sell vacant land that is adjacent to your home. To qualify, the land you sell must be adjacent to the parcel on which your...
Tags: vacant land
Category: Taxes