View From The Rock

Year-end checklist for employers

Wednesday, December 13, 2017 at 8:49 AM by Kelly O'Donnell

Courtesy of PayChex, below is a year-end checklist for employers. Have you reported the following information? All payroll checks issued in-house Voided checks Employee pension information Group Term Life adjustments Tax deposits made for an amount other than the amount on the deposit notice Tip allocations for TEFRA Other compensation adjustments paid to employees that

Guest Author Joseph J. Lezotte, CFP®, AIF®: Is a qualified charitable distribution right for you?

Wednesday, December 06, 2017 at 8:55 AM by Joseph J. Lezotte

If you’re a charitably-minded individual at an age that requires you to take a required minimum distribution from your IRA and you don’t need the full amount to support you, a qualified charitable distribution (QCD) may be a good option. Generally, a qualified charitable distribution is an otherwise taxable distribution from an IRA (other than

Using the Corporations Online Filing System (COFS)

Wednesday, November 29, 2017 at 8:54 AM by Paul Carter CPA

The State of Michigan recently made changes the to the way Corporations and LLCs renew their annual reports online. The Corporations Online Filing System (COFS) is now available and allows businesses to submit documents and annual filings online, pay filing fees online, order certificates and certified copies online, and provides for expanded search functionality. With

Understanding and minimizing the chance of employee fraud

Tuesday, November 21, 2017 at 8:58 AM by Marianne Lilly, CPA, CGMA, CVA, CFE

Do you ever wonder if any of your employees are capable of committing fraud? According to Donald Cressey, PhD, trusted persons can become trust violators if three factors are present. These factors are referred to as the “Fraud Triangle”. A secret need for cash. Whether it’s excessive debt or a gambling obsession, this need is

IRS announces 2018 pension plan limitations

Tuesday, November 14, 2017 at 8:55 AM by Mark Hughes CPA CFE

The Internal Revenue Service issued the annual cost of living adjustments Thursday for 401(k) contributions, pension plans and other retirement-related matters. The contribution limit for workers who are enrolled in 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings Plan has grown from $18,000 to $18,500. The income ranges for determining eligibility to

ShindelRock hosts Gleaners Community Food Bank drive with clients and friends next week

Tuesday, November 07, 2017 at 12:08 PM by Kelly O'Donnell

ShindelRock will host a food drive for Gleaners Community Food Bank the week of November 13-17 and we’re inviting all of our clients and friends to join in!  Simply drop of a non-perishable food donation to the ShindelRock offices anytime next week during normal business hours.  Thank you for your support of this important cause!

Reporting cash transactions over $10,000

at 8:51 AM by David Shindel

The Internal Revenue Code (IRC) provides that any person who, in the course of its trade or business, receives in excess of $10,000 in cash in a single transaction (or in two or more related transactions) must report the transaction to the IRS and furnish a statement to the payer. “Cash” generally means the coin

Gifts to charity: Six facts about written acknowledgements

Wednesday, November 01, 2017 at 8:55 AM by Maria Montie, CPA, MST, CVA, MAFF

Throughout the year, many taxpayers contribute money or gifts to qualified organizations eligible to receive tax-deductible charitable contributions. Taxpayers who plan to claim a charitable deduction on their tax return must do two things: Have a bank record or written communication from a charity for any monetary contributions. Get a written acknowledgment from the charity for

IRS will not accept returns without health coverage for 2018 filing season

Wednesday, October 25, 2017 at 8:50 AM by Monica Silwanowicz CPA

The IRS recently announced that it‎ will not accept electronically filed tax returns where the taxpayer does not address the health coverage requirements of the Affordable Care Act for the upcoming 2018 filing season. The return must indicate whether the taxpayer had coverage, had an exemption, or had no coverage. Tax returns filed on paper

Monitoring fraud risks in the supply chain

Wednesday, October 18, 2017 at 9:02 AM by Paul Carter CPA

Nearly one-third of about 2,600 supply chain professionals said their companies experienced supply chain fraud, waste or abuse the previous year, but only 40% had a program in place to detect or prevent these issues.  Companies can probe one of the top risks—third-party expense categories–and avoid overpaying: Track labor unit data in the smallest increments