Jobe Dupre’, CPA
The IRS has issued the 2015 standard mileage rates. The new rates go into effect beginning January 1, 2015 and are as follows:
57.5 cents per mile for business miles driven.
23 cents per mile driven for medical or moving purposes.
14 cents per mile driven for charitable purposes.
Brian Wynne, CPA
On Wednesday, the House overwhelmingly passed a bill that will extend, for one year, a package of tax provisions into 2014. Though the year is almost over, these breaks had all previously expired as of December 31, 2013, and under this bill they will be extended through December 31, 2014. There has been considerable debate over the content of this package, and whether to pass a one-year extension or two. Last week, President Obama threatened to veto […]
Jobe Dupre, CPA
As an S-Corporation shareholder there are certain items that should be reported on your W-2 as compensation. These items are commonly either reported incorrectly or not reported at all. The good news for this year is that you still have time to call your payroll company and have these items correctly reported on the W-2. The following are two items that are often not reported correctly.
Medical insurance of a 2% or more shareholder-employee: Medical insurance paid […]
Scott Reddersen, CPA
Over the past several months, the IRS has issued several consumer alerts in response to telephone scam artists claiming to represent IRS agents. Some of these callers use sophisticated and threatening tactics in an effort to persuade you to provide sensitive information. While receiving one of these phone calls can be frightening, it is important to remember a few things about how these intimidation tactics differ from common IRS procedures.
The IRS will never call to demand immediate […]
Scott Reddersen, CPA
On Thursday, October 30, the IRS announced annual inflation adjustments for various 2015 tax provisions. Two figures to note in the estate planning arena are the Federal estate (basic) lifetime exclusion, and the annual exclusion for gifts.
The Federal estate tax exemption increased to $5,430,000 for 2015, roughly a 1.7% increase from 2014’s $5,340,000. For more information on estate planning and the basics of portability, please see our previous blog post here.
The annual gift exclusion for 2015 […]
Scott Price, CPA
The transitional insurance program was established as part of the ACA in order to stabilize health insurance premiums in the individual marketplace and fund reinsurance payments to eligible market plans. It requires enrollment reporting and contribution payments from health insurance issuers and certain self-insured group health plans for 2014, 2015 and 2016.
Pay.gov will be available beginning Friday, October 24, 2014 to accept reporting and payment of this fee. The 2014 annual enrollment count submission is due on […]
Our employee benefits specialists are sought after for speaking engagements by industry associations and by benefit plans and unions themselves, and often instruct other professionals in the field. For more information on scheduling a Bond Beebe professional, contact us.
David Dorsey, CPA
Managing Principal
[email protected]
301.272.6060
Noted advisor to labor organizations and benefit plans, Dave has served as the managing partner and president of Bond Beebe since 2002. He has substantial experience in providing accounting and auditing services for local, national and international labor […]
Larry Beebe, CPA
In this series, we are reviewing the written plan policies needed to help your benefit plan stay compliant and operate most effectively. For a full list of the necessary policies and why your plan should implement them, click here.
Multiemployer employee benefit plans have unique issues when it comes to employer contributions. In addition to the high number of different employers that may participate in a plan, employers often contribute at different rates, perhaps for different classes of […]
Bond Beebe Principal, Brian Wynne, was recently quoted in a Business Insider article about common life changes and how they affect your tax bill. Click Here for the full article.
Larry Beebe, CPA
In this series, we are reviewing the written plan policies needed to help your benefit plan stay compliant and operate most effectively. For a full list of the necessary policies and why your plan should implement them, click here.
A great majority of plans acknowledge that they should have a disaster recovery policy and have taken the steps to put this policy in place. However, having such a policy and implementing the policy are often two different things. […]
