Tax filing season is upon us, and we have a couple of important updates for you. As always, our goal is to make taxes, accounting and compliance as easy as possible for you so the changes we have implemented are for that purpose. However, we can still handle things in a similar manner as it was handled in the prior … Read More
Tax Reform Update As you may know, there are changes that take effect beginning in 2018 under the recent major piece of tax legislation called the Tax Cuts and Jobs Act (the Act). The Act impacted tax rates for individuals and corporations as well as numerous additional areas. One overarching thought is in these last few days it may be … Read More
Update for 2015 – They’re out again. Here is the article we wrote in 2013. We recently received an official-looking form titled 2013 – Annual Minutes Form. It looks like this organization would like to charge you $125 to prepare and provide you with corporate minutes required by TN. Secretary of the great state of TN has issued a press release warning … Read More
We made the transition to a paperless office, and we learned a lot along the way. First, a disclaimer: you will still find paper in our office. Perhaps the term ‘paperless’ is a bit of a misnomer. It is true that we use much less paper, but we are not a paper free office. It should be noted on the … Read More
*** TAX ALERT *** NEW DUE DATES FOR LOCAL BUSINESS LICENSE TAX RETURNS In an effort to streamline the filing process of business license tax returns, the Tennessee Department of Revenue has made some changes to the due date for the filing of county and city business license tax returns. A business’ tax period will now coincide with its fiscal … Read More
Is your company covered by the Fair Labor Standards Act? If so, it is required to provide a written notice to its employees the Health Insurance Marketplace Exchange by October 1, 2013. However, there is no fine or penalty under the law for failing to provide the notice. The notice should inform employees: • About the Health Insurance Marketplace; • … Read More
The Healthcare Reform has financial, reporting and tax requirements that business’s and individuals’ must comply with. We’ve created this infographic to highlight the major points. An Acrobat version is also available.
Businesses are required to issue Form 1099-Misc for payments made of $600 or more for services, rents, attorney fees, medical & health care services, etc. paid to individuals, partnerships, LLC’s and some corporations. A comprehensive list of payments requiring 1099’s, is included in the instructions for 1099-Misc and can be found on the IRS website. The IRS is focusing on … Read More