Archives

Aug
14
2019

Company cars?

Does your business provide company cars to owners and key employees? This perk provides substantial valuable benefits for those provided with cars, as well as tax deductions for employers. There are complex rules for valuing the personal use of the cars. We can help you with the details. Be aware there are recordkeeping requirements. Employees must keep a diary or records with information about the employment business use of the auto (time, place, mileage, business purpose).

Aug
12
2019

Form 2290

Taxpayers can file Form 2290 electronically to pay heavy highway vehicle use tax | Internal Revenue Service http://bit.ly/33f6mS2

Aug
09
2019

What to do if your nonprofit receives an IRS audit letter

The IRS’s staffing shortages have been well publicized. But it’s a mistake to assume that the agency has stopped scrutinizing not-for-profits. Don’t panic if you receive an audit letter. The letter will inform about whether the IRS is conducting an in-person, field audit or a correspondence audit. This second type simply requires you to send requested records to the IRS. However, a correspondence audit can turn into a field audit if you don’t respond promptly.

Aug
07
2019

Making your nonprofit’s special event profitable

As in the for-profit world, sometimes not-for-profits need to spend money to make money. This is particularly true when it comes to fundraisers. At the same time, it’s critical that you make a budget and stick to it. Estimate expenses for such items as facility rental, food and drinks and entertainment, and then scrutinize the list for what can be reduced or cut. You might be able to find a business sponsor to help defray costs.

Aug
05
2019

HAPPY ANNIVERSARY

HBL would like to wish the following employees Happy Anniversary for July!
Connie – 1 Year
Danielle – 11 Years
Kenzie – 2 Years
Michael – 2 Years
Mike – 12 Years

Aug
05
2019

HBL Makes Inside Public Accounting Top 400 Firms for 2019

The IPA Best of the Best Firms

In 1994, IPA began naming the top 50 Best of the Best Firms in the U.S., selected exclusively on their performance in specific areas of management, growth and strategic vision. These Best of the Best firms are some of the highest-performing public accounting firms in the country.

Firms of all sizes are eligible for the Best of the Best annual list. IPA’s proprietary scoring system removes imbalances that could be attributed to the size of a firm or its proximity to a major metropolitan area.

Aug
05
2019

Association Retirement Plans

The Dept. of Labor (DOL) has just issued regulations that will make it easier for small businesses to provide retirement savings plans to their workers. Final regs regarding association retirement plans (ARPs) will allow small businesses to band together to offer 401(k) and other defined contribution plans to their employees. ARPs could be offered by associations of employers in a local, state or multistate metropolitan area; employers that are part of a specific industry (nationwide);

Aug
03
2019

Managing the amount of tax you’ll owe for this year

Managing the amount of tax you’ll owe for this year may require thinking about tax issues now, long before it’s time to file. One aspect that affects your tax bill is your adjusted gross income (AGI). The higher your AGI, the higher your tax rate. In a Tax Tip, the IRS offers some ways to lower your AGI during the year. A few ideas: Contribute to a Health Savings Account; claim educator expenses if you’re a qualified educator;