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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Contribute up to $2,550; $500 Carryover Option Available to Many. The Internal Revenue Service today reminded eligible employees that now is the time to begin planning to take full advantage of their employer’s health flexible spending arrangement (FSA) during 2016. FSAs provide employees a way to use tax-free dollars to pay medical expenses not covered…

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Summary of Sick Leave Law

The State of Oregon passed a law on June 22, 2015 requiring employers to provide protected sick time to all employees.  This new law goes into effect as of January 1, 2016 and affects all businesses.  We recommend that businesses review their current sick / vacation / PTO policies to ensure these policies are in…

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Due to the Affordable Care Act (ACA), every employer with 50 or more full-time employees (including full-time equivalent employees) must report information about its 2015 workforce and health plans to its employees and the IRS using new Forms 1095-C and 1094-C. Small employers with less than 50 full-time employees (including full-time equivalent employees) generally are…

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R&D Credit

The research and development tax credit is often over looked by small to mid-sized businesses.  Often these businesses are either unaware of the potential credit or believe their company doesn’t perform “high-tech” or “ground-breaking” research that would qualify for the credit.  Some businesses even believe the calculation of the credit is too complicated to pursue…

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Nearly a third of small businesses say finding a health insurance plan that fits a wide variety of employees’ needs is their biggest frustration, according to CEB Research. Accountants, as trusted advisors, are often called upon to help small business clients figure out their insurance needs. Accountants can provide unbiased information about the types of…

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The Affordable Care Act (ACA) adds significant new reporting requirements for most employers, especially those with 50+ employees during 2015.  The ACA requires completely new reporting requirements and forms that will take time to understand and prepare. Here are 5 things you should know: The reporting requirements are set forth in sections 6056 and 6056…

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Last year, the IRS issued new regs on the tax treatment of amounts paid to acquire, produce, or improve tangible property, including your rental property. The regs explain when those payments can be deducted, which confers an immediate tax benefit, and when they must be capitalized. These final regs retain many provisions of the temporary…

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2015 Legislature Changes

Overall discussion of 2015 Oregon law changes Paid Sick Leave – Senate Bill 454 Effective January 1, 2016, Businesses with 10 or more workers will be required to accrue 1 hour of paid sick leave for every 30 hours worked, or 1 1/3 per 40 hours worked. This can accrue to a maximum of 40…

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McGladrey announces new global brand name – RSM McGladrey is taking an important step to bring the middle market to the global market. On Oct. 26, 2015, McGladrey will unite with fellow members of the global network, RSM International, under a common brand name – RSM. Isler CPA is a member of the McGladrey Alliance.