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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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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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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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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