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Monthly Archives: October 2011

Important news for retirement plan sponsors

The IRS recently announced that employees will be able to contribute $17,000 to defined contribution plans for 2012, a $500 Read More >>

Providing assurance for tax deductible contributions

For a contribution or donation to be tax deductible, your donors need the assurance that your organization is in good Read More >>

How to get ready for a new definition of fiduciary

By now you have probably heard that the DOL will announce changes to the definition of ‘fiduciary’ in early 2012. Read More >>

Documenting taxable fringe benefits

A few weeks ago, I talked about the presence of fringe benefits as a red flag to the IRS. When Read More >>

Important information about 2011 mileage rates

This is an unusual year, because the reimbursement rates are not the same for the entire year. And, nonprofit organizations Read More >>

Churches may elect FICA exemption

Some churches state that they are opposed to paying FICA taxes on employees for religious reasons. If the church feels Read More >>

Amnesty from the IRS about employee classification

Bill Sims, a partner in our firm, posted timely good news for companies, including nonprofit organizations, that have misclassified independent Read More >>

Employees vs. independent contractors – amnesty from the IRS

Misclassification of employees is a widespread issue, especially among small businesses. Studies in the Obama administration estimate that improper classification Read More >>

Tax withholding from retirement plan distributions

With different types of distributions come different rules for withholding federal income tax. The IRS has clear, concise guidance on Read More >>