No Change In Social Security Benefits
The Social Security Administration has announced that there will be no increase in monthly Social Security benefits in 2016. Additionally, the maximum amount of wages subject to Social Security taxes will remain unchanged at $118,500.
IRS responds to small business owners’ requests for higher capital expense deductions
Small business owners can now deduct more capital expenses, thanks to a new Internal Revenue Service decision to raise the tangible property expensing threshold. The IRS raised the safe harbor threshold for deducing certain capital items for small businesses – those that do not require an audited financial statement – from $500 to $2,500. The […]
Holiday bonus reminders
Many employers offer their employees bonuses and extra time off for the year-end holidays. Here are a couple reminders to keep in mind during this season: End-of-year or holiday bonuses should be included in payroll and reported as taxable compensation. The Fair Labor Standards Act doesn’t mandate that employees be paid for holidays. However, if […]
Remember To Update Unemployment Rate
Don’t forget to check your state unemployment rate and update your payroll service if there is a change. The payroll service will continue to use the old rate unless otherwise notified. States generally do not automatically refund the excess, so be sure your payroll provider prepares 2016 returns using your updated rate.
Beware of scams that target the elderly
A sad reality with a rapidly aging population, spurred by the Baby Boom generation, is the rise in instances of elder abuse and exploitation. Con artists come in many forms, and perhaps the most nefarious are those who present themselves as caring for the best interest of the most vulnerable. According to a Nov. 3 […]
Ronald McDonald House Ribbon Cutting
We were honored to help celebrate the ribbon cutting for the new 31-bedroom Peachtree Dunwoody Ronald McDonald House which helps keep families close while undergoing treatment at local hospitals.
Check Your Mileage
Beginning Jan. 1, 2016, the standard mileage rate for business use of a company car, van, pickup or panel truck will be 54 cents a mile. Note that this is a decrease from 57.5 cents in 2015.
Don’t double your trouble with duplicate W-2s
Soon after the boughs of holly have been removed from the halls and the last strains of “Auld Lang Syne” have played after the New Year, taxpayers will turn their attention to the more sober business of preparing for the upcoming tax season. This means they will be looking in the mail for their W-2s. […]
No Shave November
Our guys raised $435 for the Prostate Cancer Foundation (www.pcf.org).
Beloved Atlanta, Inc. Charity Skydive
Hillary Daniel participated in a charity skydive event this weekend to raise money for Beloved Atlanta, Inc. Beloved Atlanta is an organization that helps rehabilitate women who have survived prostitution, trafficking and addiction. https://goo.gl/pI5Ijf