June 17, 2013
Many articles have provided tips for how to get a business ready for sale. Much less talked about, but equally as important to the business owner, is how to prepare yourself for that transition. Business preparation is only half of the equation. There are emotional and practical considerations to you as the business owner as well.
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June 17, 2013
Important reminder: If you have a self-insured group health plan, a flexible spending account (FSA) plan or a health reimbursement arrangement (HRA), Form 720 may need to be filed by July 31, 2013.
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June 14, 2013
If you have a financial interest, signature authority, or other authority over any foreign financial account, you are required to file a Report of Foreign Bank and Financial Accounts (FBAR) if the aggregate value of your accounts exceeds $10,000 at any time during the calendar year, or you may face substantial penalties. June 30 is the deadline by which the Department of Treasury must receive your annual FBAR.
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May 6, 2013
The IRS has provided the HSA cost-of-living adjustments for calendar year 2014.
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May 1, 2013
The Health Care and Education Reconciliation Act of 2010 put into place a new 3.8% tax on net investment income for many individuals, estates and trusts. Recently, the IRS issued proposed regulations to clarify what types of income are subject to the tax.
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May 1, 2013
The recent federal government sequestration resulted in several automatic cuts beginning March 1, 2013. Before these cuts kicked in, qualifying tax-exempt employers were eligible for a refund of up to 25% of the employee health insurance premiums they paid in 2012 (not to exceed certain payroll taxes paid). Because of sequestration, however, the refund has been reduced by 8.7%.
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April 29, 2013
Are you the executive director, accounting manager, or a board member of a calendar year not-for-profit organization? If so, your organization’s “tax day” is on the horizon, and all your people in these positions should be involved with the filing.
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April 24, 2013
If your business chooses to charge swipe fees, it’s important to note that sales or use tax applies not only to the amount of the purchase, but also to the swipe fee.
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April 3, 2013
In today’s business climate, a great deal of financial and other confidential data is stored electronically, and companies commonly outsource tasks or functions like claims processing, payroll, collections, or cloud computing. If your business is outsourcing these functions, you want reassurance that your vendors are taking the appropriate steps to safeguard your and your customers’ data. A Service Organization Report can provide that reassurance.
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April 1, 2013
Schenck’s Technology team is growing with the addition of Jennifer Critcher in our Green Bay office.
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