It is literally true that you can succeed best and quickest by helping others to succeed.” - Napoleon Hill
Choosing any professional for a job is never easy. Most people don't know exactly what design engineers do, and they certainly don't know how to judge how competent they are.
But your potential clients might one day need the services of an A/E firm (don't leave out professional services firms) and wonder how they'll be able to choose the best one. While experience and skill in the industry are understandably important, not being deliberate enough in this selection process can have serious ramifications.
Maybe a business chooses an A/E firm based on a recommendation, but there's no innovation or creativity. Or a selected design engineer lacks dedication to the project, leaving the client wishing they could ditch the contract for someone else.
How can a potential client see into the heart and mind of a design engineer professional whose work is done largely behind the scenes?
These are difficult scenarios, but not uncommon. How can a potential client see into the heart and mind of a design engineer professional whose work is done largely behind the scenes?
While past projects are one way to accomplish this, so is the right kind of work with nonprofits.
Following the most expansive tax law changes in 30 years, Treasury asked the IRS to look at ways to improve the 1040 filing experience. The IRS reviewed the set of 1040 forms (i.e. the Forms 1040, 1040EZ and 1040A) with the goal of simplifying this experience for taxpayers and its partners in the tax industry.
Treasury approved a new approach that provides flexibility in how IRS will be able to manage future changes to the Form 1040 and reduce the number of 1040 forms from which taxpayers must choose, to one basic Form 1040 that all taxpayers will use.
The 2018 Form 1040 replaces prior year Forms 1040, 1040A and 1040EZ.
The day your business receives a DR-840 notice from the Florida Department of Revenue will be one that you won't soon forget. This is the state's infamous Notice of Intent to Audit Books and Records. Your first action might be to crumble up the notice, toss it on the floor, and yell, "Why me?" This might feel good, but it's not going to prevent the state from auditing your business.
The Tax Cuts and Jobs Act – better known simply as tax reform – allows more small business taxpayers to use the cash method of accounting. Tax reform now defines a small business taxpayer as a taxpayer that has average annual gross receipts of $25 million or less for the three prior tax years and is not a tax shelter.
Paid tax preparers are an integral part of the U.S. tax system. They do about 60% of all returns each year, according to the Internal Revenue Service. Not all tax professionals are alert to the subtle signs of data theft. The IRS and its Security Summit partners note that there are many cases where tax preparers are victims of theft and don’t even know it.
Eligible employers who provide paid family and medical leave to their employees during tax years 2018 and 2019 might qualify for a new business tax credit.
This new employer credit for family and medical leave is part of tax reform legislation passed in December 2017.
The intent of the business tax credit is to encourage companies to offer paid time to their employees for family responsibilities, offer relief of some financial pressure. Under the guidelines, employers can get a tax credit equivalent to a percentage of the wages normally paid to employees during any period for up to 12 weeks, who are on family or medical leave.
Employers setting up or updating a leave policy may also be eligible for retroactive credit.
During tax season the same question always resurfaces among executives, business owners, and independent contractors – who should prepare my taxes?
While this question depends on each circumstance, the primary benefits of using a tax professional will always be time savings and improved accuracy. Individuals with more complicated tax needs will obviously benefit more from hiring someone to do their taxes, but everyone will benefit to some extent.
The Work Opportunity Tax Credit (WOTC) is a Federal tax credit available to employers who hire individuals from eligible target groups with significant barriers to employment. Each year, employers claim over $1 billion in tax credits under the WOTC program. The success and growth of this income tax credit for business is beneficial for all who participate, while increasing America’s economic growth and productivity.
Subscribe now and receive regular updates!