January 15, 2020
There’s no better time to talk about goals than the start of a new year. And what better topic than your career? The following are a few tips to help you set reasonable and achievable goals this year:
January 2, 2020
The New Year is the best time to take stock of your finances. So, as you begin the season of self-reflection and goal-making, take the time to review your spending and start making plans for a financially healthy 2020! Here are a few tips to get you started:
December 16, 2019
The holidays are all about spreading cheer…not calories and cavities. So, why not try a few dessert recipes that put a healthier spin on some holiday treat favorites. We offer a few tested (and delicious) recipe ideas for you here:
December 2, 2019
Hosting a holiday party for your staff is one of the best ways to show them you care—while also creating some meaningful, team-driven memories. Follow our tips below for hosting a memorable soiree that doesn’t push your stress or your budget past your limit.
November 15, 2019
If you have retirement on your mind, the big question is this: Are you in a financial position to do so? While nothing replaces the advice of a seasoned advisor, you can take your first step to answering this question by applying a simple 5-step calculation.
November 8, 2019
If you’re not a fan of Black Friday chaos—you know…the crowds, the rush, the relentless search for a parking space—then ditch the onsite shopping this year while still enjoying the sweet deals.
November 1, 2019
The Department of Labor (DOL) announced a final rule that allows a much larger pool of employees to earn overtime if they work more than 40 hours per week. Specifically, the DOL raised the salary level for employees who are counted as “exempt” (or unable to earn overtime pay).
October 15, 2019
If you’re starting a second business, then you know everything that’s involved with a business launch. However, there are a few business basics that every entrepreneur should revisit before diving into another enterprise. Consider these business basics and then put them into a well-thought-out business plan:
October 1, 2019
The 2019 small and midsized business (SMB) Cyberthreat Study from Keeper Security reported that nearly two out of three SMB owners do not feel threatened by or are not concerned about cyber attacks. Yet, in the previous year’s study, two out of three business owners reported falling victim to some level of data breach.
September 16, 2019
We can all get caught up in the day…meetings, calls, texts, emails and the myriad of other workday demands that pile up quickly and can create unwanted stress.
August 29, 2019
Labor Day is upon us—a popular holiday that is dedicated to the millions of women and men who keep this country going strong. For many, it also means that it’s time to break out the grill for that big end-of-summer celebration. And because most of us aren’t Grill Masters, this is a good time for a refresh on some basic grilling safety tips to keep everyone safe and the party going.
August 19, 2019
Let’s face it. Kids aren’t cheap, so you have to save money where you can. Back-to-school shopping is a good place to start because costs can add up quickly—especially if you have more than one child. Consider these tips for sending your kids back to school without breaking the bank.
$700 million is what Equifax will pay out as a result of its data breach. Make sure you get your share.
August 6, 2019
According to the commission's online claims process, those whose personal information was exposed can opt for 10 years of free credit monitoring, which breaks down as follows: Four years via the three major credit bureaus (Equifax, Experian and TransUnion) and six years specifically through Equifax.
August 1, 2019
With all the tax law changes this year, be sure that you are getting your just deductions in the coming tax season. That is, qualifying deductions that fall under the Child and Dependent Care Credit. According to tax giant and trusted resource Intuit, here’s the skinny…
July 15, 2019
These days, we seem to have endless articles on IT security while traveling, but far fewer on physical safety. Because summer can be big travel months for many businesses, we put together the following list of tips to help keep you safe while away from home.
July 1, 2019
As your trusted advisor, we are always looking for ways to improve your financial health—and that doesn’t stop at business activity. We also want to support you with tips to help you save money in your personal life as well.
June 17, 2019
June is national safety month, and it never hurts to remind your clients and community that safety always comes first. Our goal with this blog is to help you augment your marketing initiatives with a few ideas around safety. While we can’t cover every industry in a single post, we hope that you find the tips below useful and that they spark some innovative new marketing ideas!
June 3, 2019
It’s graduation season, and for many parents that means it’s almost time to start shelling out for college tuition. For those well-prepared parents with established 529 plans in place, the time has come to tap into that money pool. Of course, when it comes to tax-advantaged savings, trust that the IRS is keeping close watch, so it’s important to avoid making any rookie mistakes. It’s also important to keep saving as you move forward.
May 15, 2019
Having a remote workforce can be challenging, especially if you are trying to build a positive, collaborative work environment. So, how do you create a sense of comradery when you have staff in remote locations? These tips can help:
May 1, 2019
If you are expecting a refund this year, you may be tempted to splurge on something not-so-practical. Before you do, take some time to think about ways to use your refund to bolster your financial health. We’ve put together a few ideas for you to consider:
April 15, 2019
Once your taxes have been filed, first, take a moment to breathe a big sigh of relief…and then enjoy some Tax Day (April 15, 2019) discounts. There’s nothing like a good deal to take the sting out of tax obligations. Below, we’ve compiled a short list of best food and drink deals, taken from offer.com.
April 1, 2019
The long stretch from the end of the winter holiday season until the next break in your routine can feel like eternity. If you feel the need to reboot your enthusiasm as the spring season arrives, try these tips:
March 15, 2019
Our most precious commodity is time—and our attention is a close second. That’s why everyone can use some help on how to tune out daily distractions. We compiled the following helpful tips from copyblogger.com to get you started on dialing down distractions:
March 1, 2019
The April 15 filing deadline is rapidly approaching, so we encourage you to send us your tax documentation as soon as possible to expedite the filing process. Here are four important reasons why you should file your return sooner rather than later:
February 15, 2019
This tax season is an important one for many business owners because it’s the first that will be impacted by the Tax Cuts and Jobs Act (TCJA). How big of an impact is dependent on your unique situation. We’ve compiled this short list of provisions that may affect the business community:
February 1, 2019
According to Forbes.com, Super Bowl viewers traditionally load up on millions of pounds of less-than-healthy foods during the big game—including ribs, pulled pork, tortilla chips, nuts, popcorn and bacon—all washed down with beer (the Super Bowl beverage of choice). If you are trying to stick to your New Year’s resolution to eat better, consider a few healthy substitutes for the traditional Super Bowl eats:
January 17, 2019
The combination of running a business and your life and preparing for tax time can drive some people into a slight panic. But no need to get stressed if you are prepared. Now is the time to start organizing all documents required to file your tax return.
January 2, 2019
Like the old paraphrased saying goes: In this world, two things are certain—death and taxes. The recent federal tax overhaul changed a lot of rules, so it’s as important as ever to understand your tax obligations, including those on Social Security benefits.
December 10, 2018
Unfortunately, cyber scammers never take a vacation. In fact, the IRS has issued a warning of a surge in fraudulent emails that bait potential phishing victims with fake tax transcripts. Links within these emails lead recipients to documents containing the well-known malware, Emotet.
December 3, 2018
The holidays can be overwhelming. You only have so many hours in a day, your gift list is long, and your budget may be tight. A bit of up-front planning and prioritizing can help save you time and money. Here are a few ideas to help you minimize the hustle and bustle, stay on budget, and find more peace this holiday season.
November 19, 2018
Instilling a thankful frame of mind among your staff makes for a gratifying work place. Consider a few suggestions for developing an atmosphere of thankfulness to get into the spirit of the holiday season.
November 12, 2018
Black Friday and Cyber Monday need no introduction, but for small business owners it’s all about Small Business Saturday—an annual holiday shopping tradition that gets communities out in support of their local small businesses. Small Business Saturday falls on November 24 this year, so if you haven’t already…start getting the word out.
November 1, 2018
The Protecting Americans from Tax Hikes (PATH) Act of 2015 requires Forms 1099-MISC reporting non-employee compensation (NEC) in box 7 to be filed by January 31.
October 15, 2018
Small business owners in many communities offer downtown trick or treat events. Take advantage of this opportunity to build your business reputation. Involvement in local events goes a long way with both existing and prospective customers—indicating a vested interest in your community. Find creative ways to make your business stand out this trick-or-treat season. We hope the following suggestions will spark fun promotional ideas:
October 1, 2018
October marks Women’s Small Business Month, and we are happy and proud to recognize women in business both locally and around the world. Successful business women of the past and present continue to forge new paths for female entrepreneurs. We celebrate all those who are breaking the glass ceiling and serving as role models and mentors to women everywhere.
September 17, 2018
For many business owners, September tends to bring a bit of a slowdown. The chaos of getting kids prepared for going back to school has passed, and a focus on saving money tends to kick in as people prepare for the coming holiday spend. Combined, this can often translate into a lull for business owners.
September 4, 2018
This is a friendly reminder that the Q3 tax estimate payment deadline is coming up fast. Be sure to make your payment by September 15, 2018 to avoid penalties. Currently, penalties for late or no payment average about 4 percent. And wouldn’t you rather keep that money in your pocket?
August 21, 2018
According to new rules from the Tax Cuts & Jobs Act, meals and entertainment tax-deductible expenses for businesses have undergone considerable reform. Because the explanations of new deduction guidelines can be confusing, we’ve created this brief outline for you. A visit with your accounting professional to ensure your Chart of Accounts is correct may also be beneficial.
August 15, 2018
August is upon us once again. The collective “UGH!” is heard nationwide as families trudge toward the school supplies aisle in preparation for the upcoming academic year. Sadly, the “days-gone-by” supplies such as a box of crayons, spiral-ring notebooks and a pack of #2 pencils have evolved into a much longer list. But never fear, we’ve put together these useful tips to help you do “back to school” on the cheap.
August 1, 2018
So popular was the topic of our last post, that we created Part II to create our eating-healthy-this-summer-themed blog series. Enjoy these added nutritional and time-saving tips for summer meal planning.
July 16, 2018
If you are like most, summer is prime time for family and friend vacations. It’s a time to unwind and recharge…to see new places and try new things. For many, “new things” often means food. And if you are trying to maintain or lose weight, that can be a problem. So, for all you travelers trying to stay healthy this summer, here are 5 great tips to help you stay on a healthy eating plan and still enjoy your vacation!
July 2, 2018
If you are like most families, summer means vacation. And if your kids are like most kids, they tend to be tethered to their technology. Whether planning to travel abroad or a long weekend at a local campground, summer is a time for exploration and simply paying attention to the beauty around us.
June 18, 2018
Multigenerational family vacations have experienced an uptick in popularity, especially with older generations being more active and families living farther apart. Family getaways certainly bring people together physically, but also emotionally. Dedicated family time is simply good for the soul…even more so when multiple generations take part. With this in mind, we bring you a few ideas and tips to consider when planning your next multigenerational vacation.
June 4, 2018
For many of us, our smartphone is a vital travel tool. We rely on it for navigating unfamiliar places, taking photos, and identifying recreational activities. Michael Zhao, an editor for TheWirecutter.com, offers the following tips on what to pack in addition to your smartphone—so you won’t be stranded when traveling this summer...or any other time of the year.
May 15, 2018
You may be completely proficient at decoding emojis on social media and in text messages, but for many of us, figuring out what other people’s facial expressions mean can be quite a challenge. Here’s a quick rundown of how to interpret different facial stances based on research from people-communicating.com:
May 1, 2018
Summer will be here before you know it! If you are a working parent with school-aged children, you know that it can also mean pretty steep bills for childcare and summer camp. However, you may be able to soften the hit to your family’s budget if these services qualify for the Child and Dependent Care Tax Credit.
April 18, 2018
Quite often we can get so wrapped up in checking projects off the company’s to-do list that we forget to recognize the labor that went into each accomplishment. Acknowledging milestones provides opportunity to show appreciation to the employees who helped you achieve them...
April 2, 2018
Are you expecting a tax refund? If so, don’t treat your tax refund as ‘bonus’ cash. Rather look at it as simply a return of taxes paid beyond your actual obligation. This will help you think about using this money purposefully. Here are some ideas to try:
March 19, 2018
The spring season is here! In addition to taxes, many of us want to take care of some overlooked cleaning tasks. Procrastination often creeps in when it comes to cleaning—especially our offices. It can feel overwhelming and somewhat unproductive to spend time decluttering and cleaning your workspace, but once complete, most people feel a sense of relief and calm. Use this handy checklist...
March 5, 2018
Have you filed your 2017 taxes yet? If not, you still have the opportunity to make sure that you lower your tax obligation as much as possible. With new tax laws in effect for 2018 and beyond, the following deductions will disappear after this tax season—check them out to see which ones may help you lower your taxable income...
February 22, 2018
If you tend to feel down in the winter—you’re not alone. According to the American Psychiatric Association, as many as 20% of Americans experience Seasonal Affective Disorder (SAD), depression brought on by the shorter days and diminishing sunlight at this time of year.
February 15, 2018
When you are super busy running a business, it can be easy to let customer appreciation slide to the bottom of your long to-do list. The problem is, if you don’t show your customers love on a regular basis, they’re going to feel neglected, which can put their continued loyalty at risk.
February 1, 2018
With the occurrence of cybercrimes affecting businesses increasing daily, many companies are looking for outside expertise to help them mitigate their risks. If your company has never engaged a cybersecurity professional before, you may be unsure of what to look for. The IRS suggests businesses use the following four steps when evaluating and selecting a cybersecurity...
January 23, 2018
Office staff often have more interaction with patients than dentists outside of appointment time. This represents an opportunity to improve the overall patient experience, and we have some tips to help you achieve this.
January 16, 2018
Even if you are not a New Year’s resolution maker, it’s likely that at some point in your life you’ll want to adopt healthier or more productive habits. When you do want to make a change for the better, consider trying the following tips from lifehack.org to increase your chances of making your new good habits stick:
January 11, 2018
The start of a new year is like a universal pressing of the reset button where we assess what changes/resolutions we’d like to make to improve our lives and careers. Short on ideas? We offer 5 easy resolutions that you can implement today to help make you more creative, productive, and generally more content personally and professionally.
January 3, 2018
Tax season is approaching quickly. It’s just a few weeks until the IRS officially starts accepting returns, which means now is the perfect time to use the tips below to help you net some last-minute tax-savings and tackle tax season with ease.
January 2, 2018
Like the old paraphrased saying goes: In this world, two things are certain—death and taxes. The recent federal tax overhaul changed a lot of rules, so it’s as important as ever to understand your tax obligations, including those on Social Security benefits.
December 26, 2017
There’s no denying it, the “holiday season” has arrived and if we aren’t careful, holiday festivities often add a few extra unwanted pounds. Therefore, this is the perfect time of year to implement an employee wellness program.
December 18, 2017
It’s amazing how much festive fun can be packed into a few weeks. While the holidays truly can be wonderful, they can also feel overwhelming with too much to do and too many temptations that derail us from enjoying what is truly important. To help you make your holidays feel more fulfilling and less frantic, try these suggestions...
December 14, 2017
Many of us spend a lot of time putting together a Christmas budget, but rarely factor in the cost of filling the stockings. Beware…before you know it, all the trinkets and random what-nots can really add up, and could have you spending more on the stockings than the gifts. Follow our stocking stuffer tips to stay on budget this year!
December 4, 2017
On November 16, the House passed a new tax reform bill that moves the GOP closer to bringing the legislation to fruition. Now the Senate is preparing its own tax reform package. If passed, it must be reconciled with the House before any final legislation goes to the White House. Here is a snapshot of some of the key changes proposed in the tax reform bill:
November 17, 2017
Many of us are so focused on our online security, we forget that our information is just as vulnerable offline. To help you reduce the risk of an offline data breach, consider these tips from the Federal Trade Commission:
November 14, 2017
With just days to go before Thanksgiving, the clock is ticking down to some of the most memorable meals of the year. However, for many of us, the pressure of preparing a perfect Thanksgiving feast can be overwhelming. If this is true for you, consider these tips to simplify your seasonal spread.
November 1, 2017
The end of the year is often hectic, which is why it’s important to take some time now to reduce your tax bill. Our firm can offer additional strategies to further mitigate your tax burden; however, the following 5 tips are an excellent starting point:
October 26, 2017
Adult students are returning to higher education institutions to earn degrees and professional certifications at a record pace. If you’re one of them, you’re likely to face some unique challenges related to balancing your studies with work, home, and family obligations. Here are some pointers to help you overcome them:
October 16, 2017
Whether your business needs temporary workers to get through the holiday season or you hire short-term help on a regular basis, the process of finding the right candidates can be challenging. Try applying these strategies to make seasonal staffing easier:
October 2, 2017
Because stress related to work, family issues and other events is something that affects many of us, it’s important to reset your own stress response to protect your health and productivity. Sharon Melnick, Ph.D., a business psychologist, offers these tips:
September 29, 2017
Tax reform, one of President Trump’s key legislative agenda items, is moving closer to fruition. Based on the outline of his proposed tax reform package, which he unveiled on September 27, 2017, we’ve compiled this brief overview of the President’s major tax proposals:
September 14, 2017
If you were a victim of the recently announced Equifax hack, you need to take action to mitigate any negative impact it may have on your finances and credit. If you’re not sure if you were affected, you can use Equifax’s Potential Impact tool to find out. You will need to input your last name and the last six digits of your social security number to use this tool.
September 6, 2017
Debt—it’s so easy to accumulate, but can be extremely challenging to pay off once in over your head. That’s why the best advice is to be proactive and not take on a heavier debt load than you can afford. Here are four no-fail tips to help you manage your debt wisely:
August 30, 2017
Staff retreats can offer companies a lot of value. They can also be expensive and, unless managed effectively, not particularly productive. Before you plan your next (or first) staff retreat, review the following key factors to help you make the most of...
August 15, 2017
There likely aren’t many college students who don’t have a smart phone loaded with helpful apps. However, it is unlikely that any of these apps are dedicated to helping them build their financial fortitude. This is why we created our list below—chock-full of apps designed to make it easier for college students of any age to save money.
August 9, 2017
Andrews Consulting is excited to announce the recent launch of our firm’s new website. We’ve been working very hard to enhance our website and give our firm a fresh look. We’ve also continued to research and identify the latest and greatest technologies to improve the services we provide and ensure we continue to meet your needs.
Take a moment to look around our new...
August 1, 2017
Did you know that your webcam and even your home or office internet router can be the gateway through which cyber criminals gain access to your most sensitive data? If not, don’t panic—we have helpful tips below from the experts at the National Cyber Security Alliance to ensure that you head off this type of malicious action.
July 18, 2017
Have you had your eight glasses of water today? If you’re like the majority of Americans, chances are you haven’t—which may mean your productivity (and that of your employees) is not as high as it could be. A growing body of research points to physical dehydration as a prevalent productivity problem.
July 13, 2017
The IRS has identified several new variations of standard tax scams involving fake tax bills and demands for payments. Many of these scams involve purchasing and transferring information using a gift card or iTunes card. Other scams to be aware of include:
June 29, 2017
Now that summer/vacation season is here, your business may be enjoying a more relaxed vibe with employees taking time off or leaving early. If you’ve ever thought about implementing a flexible work program, now may be the time to pilot one, especially if your business is a bit slower this time of year. To help, we offer the following tips...
June 15, 2017
It’s almost exactly the mid-point of the year, which makes it prime time for a mid-year financial review. If you need some monetary motivation for evaluating your financial progress so far this year, you may want to think of mid-year planning as a series of potential money-saving opportunities, for example:
June 13, 2017
Many people dream of making a living by indulging their passion or hobby. Sounds great, doesn’t it? And it can be done, but it’s important to understand that taking this path has no guarantees and that there are important questions to answer honestly before you take the leap.
June 1, 2017
The recent “Wanna Cry” ransomware attack that paralyzed several large organizations in the U.S. and Europe is a solemn reminder that the risk of cyber security breaches is real. Every business owner should take steps...
May 23, 2017
Have you ever wondered if “spring fever” is real? Scientists affirm that it is. In fact, researchers say that at least half of the people living in the northern hemisphere experience mental changes related to the change of seasons.
May 16, 2017
Whether from heavy rains or hurricanes, this time of year can bring with it the risk of floods across many parts of the United States. While you may not be able to predict the likelihood of a flood in your area, with these tips you can help to mitigate physical and financial damage if a flood occurs where you live.
- Treat structural damage seriously. In any...
May 4, 2017
This time of year is when you often see yard sale signs popping up. For some, holding a yard sale is a means of clearing out unwanted items. For others, it’s an opportunity to get some great “finds.” Whichever side of the yard sale fence you’re on, these tips can help you “clean up”:
Choose your timing carefully. Research continues...
Frosty Andrews, CPA
December 21, 2015
The following is a partial list of the items extended, made permanent and/or modified in the extender bill signed into law on December 18th. A complete list is included in the text of H. R. 2029, the “Protecting Americans from Tax Hikes Act of 2015.”
§24(d) - Enhanced American Opportunity...
Frosty Andrews, CPA
September 2, 2015
Section 179 update for 2015
Alough nothing has been finalized, progress is being made on extending the limit for expensing assets under IRC 179 and 168.
The Senate Finance Committee favorably reported a bill (S. 1946) on July 23 that would retroactively extend through 2016 the 50% bonus depreciation allowance and the option to monetize alternative minimum tax credits from...
Frosty Andrews, CPA
January 11, 2015
It's not uncommon for our office to hear of scams involving fake IRS agents as a method to obtain valuable information from the public. You can read up on the current scam at www.kron4.com/2015/01/10/pittsburg-police-warning-residents-about-phone-scam/
Keep in mind the IRS will...
Frosty Andrews, CPA
December 16, 2014
The Senate passed the 2014 tax extender bill this evening by a margin of 76-16 and is awaiting the President's signature to become law.
One provision in the bill, among many, was increasing the limit for expensing equipment from $25,000 to $500,000 for assets placed in service by December 31,
March 17, 2014
There’s no disputing the fact that raising children today is a costly endeavor. However, the American Taxpayer Relief Act of 2012 (ATRA) has eased parents’ tax burden and put a few dollars back in their pockets with the Child Tax Credit, which ATRA made permanent. This tax credit can be worth as much as $1,000 per qualifying child depending upon a parent’s income.
March 4, 2014
A nice home office is often one of the biggest perks of being a freelancer, and it can also provide you with a significant tax deduction if you qualify for it. Up until this tax year, the calculations needed to claim the home office deduction were complex and required meticulous record keeping and a separate form (Form 8829). However, starting with your 2013 tax return, the IRS has introduced...
February 13, 2014
With tax season in full swing, you are likely busy compiling all of your tax documents and expense receipts to support the preparation of your return. When you think about it, there is a lot you can learn from preparing to file your tax return. It provides the perfect snapshot of where you stand financially, which can offer important insights into your money management habits. While there are...
January 31, 2014
With tax season here, you might be wondering just how likely you are to hear from the IRS after you file by means of an audit notice. While the chances you will be audited are relatively low if you file a straightforward personal tax return, the more complex your tax situation becomes (reporting business income or graduating to a high-income tax bracket, for example), the more likely it is...
January 17, 2014
If your business spends $600 or more for services from another business or an individual contractor during the tax year, you may have to report the amount on a Form 1099. The requirement to file 1099s applies to all types of businesses, C-Corporations, S-Corporations, LLCs, all partnerships, and sole proprietorships. Forms 1099 are normally issued to unincorporated...
January 3, 2014
Happy New Year! Now that the holidays are over, it’s time to get serious about reviewing where you stand from a tax perspective. As you may recall, in 2013 Congress and President Obama made a budget deal to avoid the fiscal cliff which resulted in seven tax increases. In addition to these increases, the introduction of the Affordable Care Act (also known as Obamacare) also included six...
December 17, 2013
With the end of the year on the horizon, many individuals with flexible spending accounts (FSAs) are scurrying to spend residual funds to avoid “losing” them, in accordance with IRS regulations. However, the regulations have now changed with the IRS easing the “use-it-or-lose-it” rule for health flexible spending plans. Individuals with FSAs can now carry over a maximum of $500 to...
November 26, 2013
If you’re nearing the customary retirement age of 65, you may be considering when to apply for Medicare and Social Security benefits. This is an important decision that can have significant impact on your financial situation down the road, so it is important to understand how these benefit programs work. In particular, if you are not planning to retire at the full retirement age (FRA) of 65...
November 13, 2013
The IRS recently announced that, for the second year in a row, it will delay the start of tax season. However, the April 15 filing deadline, which is set by statute, remains in place. Last year it was the fiscal cliff negotiations that pushed back the start of the tax filing period. This year, of course, it is the 16-day government shutdown that put the IRS approximately one to two weeks...
October 30, 2013
If you own a Limited Liability Company (LLC) that you are not actively managing, but you claim tax deductions, this blog post will be of interest to you. Close to 30 years ago, the IRS passive activity loss (PAL) rules (I.R.C. Section 469) were enacted to limit the degree to which money-losing LLCs could be used as tax shelters by their owners claiming losses—such as depreciation, interest,...
October 16, 2013
Halloween is just around the corner and in a few short weeks the calendar will flip to November 1—the unofficial beginning to the winter holiday season that can seriously reduce employee productivity. After all, who has time to put in a solid eight hours a day at the office when there is seasonal shopping, schmoozing, and socializing to be done?
Many business owners have a...
October 4, 2013
Employers providing healthcare insurance that includes prescription drug benefits are required to notify Medicare-eligible employees by October 15 of each year whether their drug benefit is "creditable coverage," meaning that it is expected to cover, on average, as much as the standard Medicare Part D prescription drug plan.
The Centers for Medicare and Medicaid Services (CMS)...
September 30, 2013
While the end of the year may seem like it’s a long time from now, it’s only three short months away. When you factor in the hectic weeks of the coming holiday season, that really only leaves a few weeks to pull your tax information together to avoid the stress that being unprepared for tax season can bring.
Now is the time to think about what information you will need for the...
September 13, 2013
The opening of the government’s Health Insurance Marketplace (HIM) on October 1 is fast approaching and with it comes a new requirement to Section 18B of the Fair Labor Standards Act that all businesses should be aware of. By October 1, 2013 employers must provide written notices about health insurance options, including notification of the new health insurance marketplace, to their...
September 4, 2013
The beginning of September is synonymous with the back-to-school season. If you have a child attending college, or if you are a student yourself, September is also likely to be synonymous with the beginning of annual tuition payments. While attending and paying for college may be taxing in many ways, there is some good news when it comes to tax deductions and credits related to college...
August 16, 2013
Given the tough economy over the past few years, it has been particularly difficult for business owners and the individuals they employee to thrive financially. Couple the poor economic climate with the fact that many businesses, especially small ones, have few controls in place to prevent employee theft and you get statistics like these reported by the National Federation of Independent...
July 31, 2013
If you’re lucky enough to own a vacation home, or are thinking about investing in one, you should be aware of the tax implications associated with this type of property, particularly if you are planning to rent it at least some of the time. It is also important to note that the IRS definition of a vacation property encompasses not only houses, cottages, and condominiums, but also mobile...
July 16, 2013
As hard as it is to believe, the year is already half over. Although it may seem like the April tax deadline was just a few weeks ago, the reality is it’s time to start thinking about your 2013 taxes. And, if you spend some time now on mid-year tax planning, it can really pay off next April—which is only nine short months away. In addition, taking stock of where your business is halfway...
July 3, 2013
On Tuesday, July 2, the Obama administration announced that it is delaying the requirement that businesses with more than 50 employees provide health insurance to their workers or pay a penalty. The delay extends to 2015. The announcement by the IRS comes after numerous complaints from businesses that the requirements were too complicated and difficult to implement in time.
June 27, 2013
One of the key mandates of the Affordable Care Act (ACA), or “Obamacare” as the law is commonly known, is the creation of health insurance exchanges in each state. The intention of these exchanges is to give individuals and small businesses a means for buying affordable health insurance. With the October 1st launch date for the new health care exchanges fast approaching, business owners...
June 18, 2013
For years, aggressive, "do-what it takes" attitudes have been attributed to achieving professional success. Having at least a little bit of the "killer" instinct is what differentiates the winners in business, right? Perhaps in some cases, but according to research conducted by Wharton Business School professor, Adam Grant, the opposite is true. Success—both personal and professional—is...
May 30, 2013
We’ve said it before, and we’ll say it again… marketing is a key component of any successful business. So, we want to provide you with as much helpful information as we can in this area. We know marketing isn’t an easy task. It takes time and money. Of course, we understand that you have to keep a focus on the bottom line, which is why we are offering a few marketing tips for those of...
May 17, 2013
Whether your business sells seasonal products or provides services throughout the year, summer is a HOT season for marketing. The warmer weather offers some flexibility with marketing events and campaigns, and that means you can be creative. Most people like to get out during the summer months, so the potential to attract prospects and clients to your marketing events is higher. The following...
April 30, 2013
Technology is a wonderful thing. We know it in our firm because we use advanced technology to our advantage—that is, working anytime and from any device, having 24/7 access to files, and the ability to work from home, a client’s site, or the airport! And now that just about any gadget you can imagine is portable and affordable, your small business doesn’t have to be confined to your...
April 17, 2013
This was more than your typical tax season. With a plethora of changes to the tax code and a late start brought about by 11th hour congressional decisions, it was an even more harried and intense process than usual. We appreciate the good working relationships with our clients that helped us keep moving to meet the April 15 deadline—thank you!
With tax season just now moving into...
March 29, 2013
Hopefully, you are part of the more than 80% of taxpayers that take advantage of e-filing. If you’re not, we want to remind you WHY you should. Take a moment to read our short (but very convincing) list. The April 15th tax deadline is just around the corner, so we wanted to dedicate one last post to remind you of the value of e-filing your return.
- Safe &...
March 18, 2013
The tax deadline always seems to sneak up on taxpayers. Don’t fall into this trap and cause yourself added stress. If you’ve yet to pull things together…start preparing now. The following are four easy tips to be sure that you are ready for the April 15 tax deadline:
- Locate Last Year’s Tax Return—Previous years’ returns serve as an excellent...
February 28, 2013
As we look forward to the end of winter and the launch of spring, that also means the April 15th tax deadline is that much closer. Being prepared is the best way to ensure a smooth tax season and minimize any surprises. So, if you’ve yet to dig in and give some dedicated focus to your taxes, here are a few suggestions to get you going:
- Begin Gathering Source...
February 18, 2013
More than 80% of taxpayers file electronically…and for good reason. Or rather, good reasons (plural)—four to be exact. E-filing offers an efficient and highly secure method for filing your tax return. And if that’s not reason enough, take a moment to read through our Top 4:
- Accurate & Complete—E-filing is the best way to ensure that you file an...
January 30, 2013
As of January 30, 2013, the IRS will begin processing individual income tax returns for the majority of United States taxpayers. Be sure to get your tax documents organized now. You can use our Client Center on our website to securely upload your documents to our office.
A few items to note as we move into February:
- E-file and direct deposit are the fastest ways to...
January 4, 2013
With the passing of the new ‘Fiscal Cliff” Act, taxpayers need to be aware of how it may affect them in the coming years. As such, we’ve compiled detailed information for you within this blog post.
At a high level, the...
December 27, 2012
The IRS continues to challenge S Corporation shareholders regarding proper methods for paying themselves. That said, it’s critical that your S Corporation structure is set up appropriately and that compensation is paid and reported correctly. For example, in a recent court appeal case, an attorney was slapped with penalties and interest after failing to remit payroll taxes for his...
December 17, 2012
It’s year end already, and with it comes the race to get ready for tax season. Traditionally, December marks a time for giving generously to charities, family, and friends. It’s also a time that can have a major impact on your upcoming tax return. But fear not, we’ve compiled a few helpful “Season of Giving” tips for you (courtesy of the IRS), covering everything from charity...
November 21, 2012
With the election behind us, we now have a much clearer picture of how taxes will be affected in 2013 and beyond. With this insight, we can better help our clients create strategic, fiscally responsible tax programs for the coming year.
Under the Obama administration, the objective is to maintain the old tax rates for taxpayers with adjusted gross income below $250,000. (The old tax...
October 25, 2012
You may have already noticed some changes to your personal portal. To ensure that you are able to continue to easily navigate within your portal, we’ve compiled the following list that explains recent core enhancements.
What you will see when you log in:
- A more streamlined look and feel offers more direct access to your documents and other frequently used home...
October 16, 2012
First and foremost, it’s important to understand that social media is not one size fits all. Every small business is different and will have different social media needs. For example, some may be looking to acquire new clients while others may want to use social media channels to strengthen customer relationships or educate their audience.
No matter the reason, social media is a...
October 1, 2012
To ensure success, it’s important to consistently evaluate your business and identify possible areas for enhancement. Of course, because you are an integral part of daily operations, it’s sometimes hard to visualize what enhancements may be needed or to come up with that next BIG idea.
With this in mind, we want to provide you with a few tips to help jumpstart innovation in...
September 17, 2012
With year end fast approaching, it’s a good time to slip in another push for portals. We understand the immense value online access offers, and we just want to be sure that you do too. First and foremost, portals support immediate, real-time exchange of data and documents, which translates into ultimate convenience for our clients. Your information is always at your fingertips, 24/7…when...
September 1, 2012
Summer is coming to a close, and the end of summer is a good time to start thinking about getting your tax information together. Before you know it, year end will be here, which can leave you scrambling to get organized. Starting a little early will help ensure that you are prepared—avoiding the all-too-familiar last minute cram session that can cause disruption and stress in your personal...
August 28, 2012
The effects of the new healthcare law are different for individuals and business. We’ve compiled the following information for you and provided a succinct explanation of specific changes. This list is certainly not all-inclusive, so please contact our firm for more detail and...
August 14, 2012
Portals are everywhere. When you access your financial portfolio or bank account, you are using portals. Online access to information is critical these days, allowing instant access to data and documents when you need them—the ultimate in convenience.
At our firm, we also want to provide our clients with the convenience of web-based access, which is why we offer our advanced...
December 17, 2011
Andrews Consulting is proud to announce that our firm was very recently featured in an article in Hacienda Online! magazine. Frosty discusses the firm's goal of adding value to their clients' businesses through proactive tax planning and company management, via their Financial and Strategic Management Program (FSM).
November 18, 2011
We are excited to announce the recent launch of our firm’s new website! We’ve been working very hard to enhance our site and give our firm a major facelift. We’ve also continued to research and identify the latest and greatest technologies to improve the services we provide and ensure we continue to meet your needs.Take a