IRS_Audit

23% of IRS Computers & Other IT Equipment Unaccounted For

  Treasury Inspector General for Tax Administration (“TIGTA”) issued their report on September 16, 2013 titled, “Weaknesses in Asset Management Controls Leave Information Technology Assets Vulnerable to Loss” (Reference 2013-20-089)   Excerpt from the reports highlights section… TIGTA also found that ineffective inventory controls created an environment where information technology assets are vulnerable to loss. […]

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Example - Section 179 & Depr_Table5

Section 179 Deduction

  When you purchase property or equipment, you utilize these assets over a period of several years (their “useful life”). Depreciation is the process of expensing or deducting the cost over the useful life of the asset rather than the entire amount in the year of purchase.   Illustration of business financials information without depreciation: […]

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FileSizeLimitError

Sharing or Transferring Large Files

Do you need to transfer a large file? Clients often need to send us a big file (ie- QuickBooks backup file) but are limited by file size restrictions for email attachments. Here are some ways that you can send large files for free. Whether it is scanned documents into tif or pdf formats, or a […]

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“No Penalty…” Maybe. Maybe not.

One of our clients was told by his insurance company that there is no penalty for not sending the (Obamacare) letters. He asked what my thoughts were on this. Here is a copy of my response: “Yes, that is what I have heard also. I mentioned in my email that I originally sent you that […]

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FAQ Obamacare Letters due October 1st

We have had a few clients ask about the “Obamacare Letters” that are due October 1, 2013. I am providing you the following information to assist you in determining whether or not you need to comply with this notification requirement. Even if your businesses has fewer than 50 full-time employees and you most likely will […]

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