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Employee or Contractor? Making the Right Classification

On May 15th, 2012, by Jon Wright

IRS still watchful for misclassified employees The conflict between the IRS and businesses regarding who is an independent contractor and who is an actual employee is nothing new and will probably always be an issue. To keep your company as far from trouble as possible, get and keep yourself up to speed on the IRS..

Uncertainty in Tax Law Increases the Need for Planning in 2012

On May 15th, 2012, by Jon Wright

Tax planning is an important, and sometimes difficult, process for business owners and high income taxpayers. In 2012 this process will be especially difficult and likely more important. The 2012 tax year has begun with many familiar tax regulations in place. Lawmakers have extended various Bush-era tax cuts through the end of the year. Other..

IRS Makes it Easier to Deduct Real Estate Activity Losses

On April 24th, 2012, by Janie Evans

Under recently released IRS Revenue Procedure 2011-34, real estate professionals can now more easily make late elections to treat all interests in rental real estate as a single rental real estate activity. What does this mean to you? The election can help you retroactively meet material participation requirements and deduct losses, potentially generating an income..

401k Sponsors: Avoid Mistakes with Timely Deposits

On April 24th, 2012, by Karen Keller

In any qualified retirement plan, money comes in and money goes out. And an area that garners Department of Labor (DOL) attention is what’s known as timely deposits. The DOL actively enforces timely deposits of elective deferral contributions. To avoid problems, here’s what you need to know. What are the requirements? Generally, plans appoint a..

Tax Incentives Provide Opportunity

On March 9th, 2012, by Mike Hawkins

Local, state, and federal tax codes grow increasingly complicated every year. Each level of government has an extensive list of tax incentives designed to reward, encourage, or subsidize specific activities or situations. Businesses and individuals who successfully identify the right incentives often receive substantial benefits. At Cassady Schiller, we are focused on helping our clients..

Preserving Wealth with Lifetime Gifts

On March 9th, 2012, by David Cassady

Recent tax law changes have created an unprecedented opportunity for affluent taxpayers to remove substantial amounts of wealth from their estates through lifetime gifts. The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 increased the gift and estate tax exemptions to $5 million, and reduced the top rate for these taxes to..

Are you ready to streamline your warehouse?

On February 14th, 2012, by John Eberhart

Increased efficiency and productivity are music to any distributor’s ears, and you can achieve both with one solution: a warehouse management system (WMS). Bear in mind, however, that successfully installing a WMS requires extensive planning and a fair amount of financial resources. Implementing and investing Implementing a WMS can enhance inventory flow management and transaction..

Travel and Entertainment Documentation

On February 14th, 2012, by Brian Stautberg

Although the computer age and modern telecommunications have reduced the need for in-person contact, it is still sometimes necessary for businesses to send employees out of town on business, or to entertain clients and customers. How travel and entertainment expenses are handled can have an impact on your net income, your paperwork burden, and on..