Monthly Archives: June 2014

More changes made to Affordable Care Act deadlines

On February 10, 2014, the Treasury Department issued rules that will allow mid-sized businesses to delay for one year the requirement to provide health insurance for their workers. The rules also offered some relief for larger companies. Businesses with 50 … Continue reading

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Study reveals retirement concerns

A recent study conducted by Harris Interactive of 1,000 middle class individuals aged 25 to 75 revealed some interesting statistics about retirement attitudes. Among the survey’s findings: * 37% of respondents say they don’t expect to retire; instead they expect … Continue reading

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IRS publishes business vehicle deduction limits for 2014

The IRS has published depreciation limits for business vehicles first placed in service this year. 50% bonus depreciation is no longer allowed for business equipment purchases, including vehicles. Here’s a quick review of the adjustments for 2014. For business cars … Continue reading

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FBAR deadline is June 30

If you hold foreign bank or financial accounts and the total value of your account exceeds $10,000 at any time during the calendar year, you may be required to file a Treasury Department report known as the FBAR. It’s easy … Continue reading

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IRS issues “repair regulations”

The IRS has issued regulations intended to clarify for businesses which costs related to fixed assets must be capitalized and which can be expensed currently. Included in the regulations are several safe harbors that make the capitalize-or-expense decision easier for … Continue reading

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Take steps to boost your business profits

Keeping your company profitable when the economy slows down is a challenge for every business. You may be able to boost your bottom line with the following financial controls. * Watch your customer credit. Use an accounts receivable aging report … Continue reading

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Unemployment benefits are taxable

Unemployment compensation can provide a welcome buffer while you’re transitioning to a new job. But with the help comes a tax effect, because the benefits provided under federal or state laws are usually includable in your income in the year … Continue reading

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