Archive for July, 2010

Have Red Flag Rules been delayed again?

Friday, July 30th, 2010

At the request of several members of Congress. the Federal Trade Commission has delayed the compliance deadline for “Red Flag” rules, which require businesses to implement anti-identity theft policies. Originally scheduled to become effective January 1, 2008, the rules have been granted a series of extension by the FTC. The latest moves the deadline from June 1, 2010, to December 31, 2010. (more…)

Do you auto-enroll employees in your 401k?

Wednesday, July 28th, 2010

Large employers are hesitant to institute automatic enrollment for their retirement savings plans, according to a recent survey conducted by AARP. Nearly 60 percent of the employers surveyed noted that they did not have automatic enrollment in the 401(k) plans. (more…)

Can my summer day care expenses earn a tax credit?

Monday, July 26th, 2010

Arranging summer day care for your children can be challenging, but knowing those expenses may be tax deductible may help. The IRS recently shared some tips regarding the tax credit available for child care of children under age 13. (more…)

Is it time to start planning the sale of your business?

Friday, July 23rd, 2010

Every business strategy should include an exit plan for leaving the business. This can hinge on the owner’s personal financial and estate planning efforts, and a successful transition depends on many factors. (more…)

Can Changing My Business Entity Improve Tax Treatment?

Wednesday, July 21st, 2010

The expected increase in individual income tax rates next year has some small business owners wondering if now is the time to change their entity structures. Which structure is best for your business is a complex question – and the answer is different for everyone. The following are issues to consider if you are facing this question. (more…)

Can you explain the concept of waste in Lean Six Sigma?

Monday, July 19th, 2010

The management philosophy of Lean Six Sigma is centered on improving efficiency and effectiveness in your business.  We use the acronym Downtime +A to describe to nine categories of waste that is commonly found in processes: (more…)

How do disaster payments, like those for the oil spill, impact your taxes?

Friday, July 16th, 2010

The IRS recently explained how recipients of payments by BP to oil spill victims for lost income should treat the payments for tax purposes, set up a special tax assistance day and established a special toll-free line for Gulf Coast area taxpayers. (more…)

What does the recently-passed Medicare rate bill mean to healthcare providers?

Wednesday, July 14th, 2010

 

It’s a mixed scenario for healthcare providers who accept Medicare patients. In late June, Congress passed a bill to once again extend Medicare payment rates to physicians, hospitals and other healthcare service providers until November 30, 2010. (more…)

Is there a tax credit for therapeutic products and technology?

Monday, July 12th, 2010

Yes, there is. If your small company develops products or technology that diagnose, treat or prevent diseases, you may be eligible to apply for tax credits or grants. (more…)

Recently Married, Divorced or Adopted? Remember to Notify Social Security

Friday, July 9th, 2010

Since we’ve just completed the month known for weddings in June, it’s a good time to make sure the name on your tax return matches the name registered with the Social Security Administration. Here’s what to do. (more…)

How does the new extension to the homebuyer credit work?

Wednesday, July 7th, 2010

On June 30, Congress passed H.R. 5623, the Homebuyer Assistance Improvement Act of 2010, and President Obama has now signed it. The new law provides the first-time homebuyer credit to taxpayers who were in contract before May 1 but couldn’t meet the June 30, 2010, closing date as required in the prior law. (more…)