As the new year begins, it is time to start thinking about and preparing for filing your Personal Property Tax Returns.  Personal Property Tax Returns have a new filing date of March 15th and can no longer be extended.  Returns filed after March 15, 2016 will be assessed a penalty of at least 5%.  The…

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Isler CPA is now connected to the ultimate Internet medium: fiber optic.  Simply stated, there is no better Internet connection than fiber to your building.  Since we rely heavily on quality Internet connectivity for our applications and data, this is a major leap forward for our business. “We’re glad to see this project come to…

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2015 Tax Law Changes

On December 18th, Congress passed and the President signed into law the “Protecting Americans from Tax Hikes (PATH) Act of 2015”.  Included in the law are a number of individual and business tax provisions which were extended or made permanent and will affect taxpayers for 2015.  Below is a summary of some of the tax…

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2016 Housekeeping

Now that 2015 is coming to a close it is time to start thinking about 2016 and all that comes with the new year.  Below is a summary of housekeeping items to keep in mind for the upcoming year. Filing Requirements for 2015 forms in 2016 Form 1099s – Be sure to review your records…

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Each quarter, RSM’s accounting thought leaders update middle-market businesses on recently issued and proposed accounting guidance to discuss the implications and effects on middle-market companies, like yours. The following topics will be discussed on the webcast: Recently issued and effective guidance Developments in the financial instruments and leases projects Status of changes to new revenue…

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Community Supported Shelters

I was recently offered an opportunity to serve as board treasurer for a local non-profit, Community Supported Shelters (CSS).  I wasn’t familiar with CSS when this opportunity came up so I went to their website at : communitysupportedshelters.org .  I found out CSS is a fairly new organization, co-founded in March, 2013 by Erik and…

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EMAIL SCAM ALERT

Our spam filtering partner  is reporting a high incidence of scam email designed to trick you into launching viruses on your computer. This virus circulating is the UPS/Fed Ex/USPS Delivery Failure. You will receive an e-mail from UPS, Fed Ex, or USPS along with a packet number. It will say that they were unable to…

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On November 24th, the IRS announced a taxpayer favorable change to the de minimis safe harbor limits for deducting materials and supplies and other small personal property items. Up until the announcement on November 24th, taxpayers could deduct any material, supply, or personal property up to $500 per invoice (or per item, validated by an…

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Max out your contribution and deduction limits. This is $5,500 ($6,500 if 50 or older), to a traditional or Roth IRA. This also applies to each person in a marriage, even if one spouse does not have taxable compensation. April 18th 2016 is the deadline for your 2015 contribution. Avoid excess contribution. Anything above the…

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The United States Department of Labor (DOL) Office of Chief Accountant recently stressed, in a letter emailed to plan administrators, the importance of obtaining a quality audit from a qualified and experienced CPA firm. This letter explains that selecting a qualified CPA who has the expertise to perform an audit is a critical responsibility in…

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