Have you noticed that fewer restaurants are including automatic gratuities on their checks? The reason behind this change likely is a tax rule change that will have a significant impact on employers and employees in the hospitality industry. Automatic gratuities have been a long standing practice for many restaurants around
As the holidays approach, we are reminded that it also time to consider year-end individual tax planning strategies. Projecting your current year tax liability allows us to seek opportunities to reduce that burden. Planning for that liability also allows us to identify your cash flow needs well in advance of April 2014.
On October 1, 2013, the Private Company Council (PCC) approved its first U.S. Generally Accepted Accounting Principles (GAAP) exceptions for private companies.
Taxpayers have benefited from the use of accelerated depreciation for the better part of the past decade. This benefit will significantly decrease in 2014 as many of the rules related to the two methods of accelerated depreciation (Bonus depreciation and Section 179) will be revised. Section 179 depreciation will be
(From Michael Jordan to a Top Boston Red Sox Prospect - Issues Encountered by Athletes and Entertainers) Sports enthusiasts in New England have had much to cheer about as they watched their beloved Red Sox win this fall’s World Series. For those who have not been following the organization closely,
IRS explains how same-sex couples and employers Can obtain refunds of excess FICA and employment tax (IRS Notice 2013-61) Following up on information provided in our July 2013 and August 2013 newsletters, this article continues with our efforts to keep our readers informed of ongoing changes set in motion by the US Supreme Court’s
You’re responsible for the grant making functions of a private foundation. It’s getting close to year end and you have to complete the yearly grant payout cycle.