Starting with payments due in April 2018 for Tax Year 2017, taxpayers who owe $5,000 or more for the Business Income and Receipts Tax or the Net Profits Tax must pay those taxes electronically. Taxpayers can make electronic payments through: Online Methods • eCheck -...
When starting a business, it is important to consider the business structure. There are many aspects to consider when choosing a business form including the industry, the nature of the business, legal factors, taxation, and other factors. Let’s look at some of the...
In the current environment, states are aggressively fighting for every tax dollar, especially when it comes to the taxation of out of state businesses. State laws are constantly changing, presenting compliance challenges for businesses and requiring increased record...
As the year is rapidly coming to an end, you may be looking for ways to reduce your tax liability. Have you considered charitable giving? In addition to contributing to a group in need, many taxpayers who itemize deduction may receive a tax deduction. The...
Now that your 2016 Form 5500 and Employee Benefit Plan audit have been finalized, the next few months offer a great time to look at the current plan year and identity any potential issues prior to your 2017 audit. Identifying issues prior to the start of the audit...
Apart from the typical non-employee, individual whom you consider a subcontractor, are you aware of everyone who is in need of a 1099-Misc come January 31st of the subsequent year? The best practice you can do for yourself (and your accountant!) is to keep up with...
It is scary to think that Halloween has come and gone and we now have less than two months left in the year. Where has the time gone? The only thing more frightening than ghosts and haunted houses is ending the year without knowing your 2017 projected tax liability....
“The Blockchain” – What is it and how will it impact the accounting world? You are bound to have seen headlines about blockchain technology and/or bit coin digital currency. Countless pieces on the new phenomena have been popping up recently in news publications and...