Archive for - September, 2014

Expect delays when working with the IRS

Sep. 27, 2014

The Internal Revenue Service won’t be able to provide as much service. Congress keeps reducing the budget of the IRS, which is $11.29 billion for fiscal year 2014 and the […]

Goldman Sachs 10,000 Small Businesses Program

Sep. 25, 2014

Small businesses represent 99.7 percent of all employer firms, hire 40 percent of high-tech workers and produce 13 times more patents per employee than large patenting firms. Couple that with […]

Items received from redeeming bank “thank you” points can be taxable income

Sep. 22, 2014

Items received from redeeming bank “thank you points” can be taxable income. The Tax Court ruled that the value of an airline ticket received by redeeming bank “thank you” points […]

Weising earns 40 Under 40 honors

Sep. 16, 2014

CLEVELAND – Walthall CPAs is proud to announce that Paul Weisinger, partner, was named an honoree of the CPA Practice Advisor 40 UNDER 40 awards. Each year, the CPA Practice […]

Can your charity go viral?

Sep. 16, 2014

Nonprofits are always looking for ways to promote awareness and ultimately boost donations. There are several ways to accomplish this, and social media is one. Unless you have been living  in a cave […]

Low-Profit LLC

Sep. 15, 2014

For years, there has been an awkward tension between knowing when to file as a nonprofit and when to file as a for-profit organization. Today, there is a third option—a […]

Don’t let fraud consume your company – download whitepaper

Sep. 12, 2014

There are many red flags in the world of fraud — the key is spotting them and taking immediate action. In our latest white paper, we’ll spell out the red […]

Satisfy the moving expense deduction criteria of start of work, distance, and time?

Sep. 12, 2014

In certain cases, moving expenses may be tax deductible by individuals. Three key criteria must be satisfied: the move must closely-related to the start of work; a distance test must […]

How do I make a catch-up contribution?

Sep. 10, 2014

Employees can elect to make voluntary contributions from their salary to certain retirement plans. The type of plan may depend on your employer. Many employers maintain cash or deferred arrangements […]

Tax info for those with vacation home rentals

Sep. 08, 2014

If you rent a home to others, you usually must report the rental income on your tax return. But you may not have to report the income if the rental […]