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INDIANA SECRETARY OF STATE WARNS BUSINESSES OF DECEPTIVE LETTER

Indiana Secretary of State Connie Lawson announced on February 20 that some Indiana businesses have received a deceptive letter that may appear to come from the office’s Business Services Division. The letter is an attempt to solicit Indiana business owners and is not dispatched by or from the Secretary...... Read More

UNCLAIMED PROPERTY: MAJOR REVENUE GENERATOR FOR STATES

States are beginning to become more aggressive in their pursuits of unclaimed property. Because of this fact, we encourage our clients to take the proper steps to protect themselves from potential unclaimed funds loss. Unclaimed property is defined as any financial asset with no activity by its owner for...... Read More

QUICKBOOKS 2015 – WHAT’S NEW AND IMPROVED?

As a QuickBooks ProAdvisor, I look forward to the new features and improvements of QuickBooks each year.  With the release of QuickBooks 2015 occurring just a few weeks ago, we are all still learning this version, but are looking forward to some of the new features including enhanced reports;...... Read More

OHIO BUREAU OF WORKERS’ COMPENSATION MAKES BIG CHANGES

Big changes are happening in Ohio with regards to worker’s compensation insurance.   Starting July 1, 2015, Ohio Bureau of Workers’ Compensation will be transitioning from a retrospective billing system to a prospective billing system.  What this means is, instead of the  premium being paid after services have been rendered,...... Read More

IRS SOCIAL MEDIA TOOLS

IRS Social Media Tools are becoming more familiar among family and friends.  It’s an excellent way to stay connected and gain access to the latest news on tax changes, initiatives, products, and services.  Take a look at the IRS social media tools that can help you keep up-to-date with your...... Read More

IRS REGULATIONS FINALIZED FOR ADDITIONAL MEDICARE SURTAX

The Internal Revenue Service has issued final regulations for the Additional Medicare Surtax (AMS) on high income earners that was effective January 1, 2013.  The final regulations provide details regarding how an employer should make corrections if the proper tax was not withheld. An employer must withhold AMS on...... Read More

Are you Compliant with Department of Labor Workplace Poster Requirements?

Confused about which Department of Labor posters should be displayed at your workplace?  Not sure how to obtain these posters?  No problem.  The Department of Labor has a FirstStep Poster Advisor to help employers determine which federal Department of Labor workplace posters are required. Posting requirements vary from business...... Read More

What are the Odds that I Might Get Audited by the IRS?

The IRS recently released audit statistics relating to 2011 income tax returns filed in 2012.  If you have ever wondered what your odds of being audited are, there is a 1 percent chance of personal (1040) returns being audited and a 3.5 percent chance of business returns (1120, 1120S...... Read More

HSA Contribution Limits for 2014 Announced

The IRS has recently announced the Health Savings Account (HSA’s) limits for 2014.  These amounts are indexed each year for inflation.  For 2014, the contribution limit for individuals is $3,300.  The limit for family coverage is $6,550.  There is a catch up provision for those aged 55 or older...... Read More

Midyear Tax Moves to Make Now

It’s hard to believe the year is more than half over. Now is the time to take advantage of tax moves that could help reduce your 2013 tax bill: Adjust your withholding.  The goal is to have just the right amount withheld from your paychecks to cover your tax...... Read More

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