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

Reporting tips … the IRS has upped the ante

Effective this year, employers must treat “automatic gratuities” as service charge, not tips.  This will increase payroll tax obligations as well as change wage-hour requirements. In the past, employees whom receive $20 or more in cash tips a month are required to report the amount to their employers by...... 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

Quick and Simple Tips to Protect Your Passwords

As you already know, generating and maintaining passwords can be tricky. Here are a few tips that we’ve found help reduce the likelihood of your password being compromised: • Password Complexity. The most important factor in password complexity is length. A password of 12 characters or more is recommended....... Read More

Preparing for the Worst – Are Your Ready?

The recent tornados in Oklahoma have left a path of destruction and have literally torn apart thousands of lives and businesses.  I was watching a local weather broadcaster in Indianapolis this morning who asked the question, “What if a tornado the size of the tornado in El Reno, Oklahoma...... Read More

Nine Tips for Deducting Charitable Contributions

The IRS recently issued Tax Tip 2013-45, its annual advice on ensuring your charitable contributions are properly documented in order to help lower your tax bill. If you want a tax deduction, you must donate to a qualified charitable organization. You cannot deduct contributions you make to either an...... Read More

Final Rules Requiring EIN Updates

On Friday May 3, 2013, the IRS issued final regulations requiring every person and every entity with an Employer Identification Number (“EIN”) to periodically update their information with the IRS. The filing requirements will begin January 1, 2014, to allow the IRS time to issue new forms and instructions...... Read More


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