Medical and Dental Expenses
The Internal Revenue Service has expanded their video collection on YouTube, and I recently watched the short, yet informative one on Medical and Dental Expenses. To deduct your medical or dental expenses, you must itemize your deductions. Then: Add up...
If it sounds too good to be true…
You know the old saying: "If it sounds too good to be true, it probably is." Now the IRS is using the cliche to enforce a new penalty. In a recent decision involving a Son-of-BOSS tax shelter transaction, the taxpayer...
Did You Know…
The Internal Revenue Service (IRS) recently released the Spring 2012 Statistics of Income Bulletin to the general public. This issue features information on high-income individual income tax returns filed for tax year 2009. Did you know that during 2009, of...
Make sure your earnings aren’t subject to “Risky Business”
Trying to minimize damage from unforeseen events is nothing new to business owners, but a first-of-its-kind risk management study suggests companies still have lessons to learn. From Sabine Vollmer’s article in CGMA Magazine: “Being able to link cause and effect...
SR Client Question: Are employee meal breaks mandatory?
Employee meal breaks are generally required for most employees (although allowing your workers to eat suspended in the air on a steel truss is not recommended!). Familiarity with your state’s meal break regulations or even the regulations under the Fair...
Meet the SR team: Marianne Lilly, CPA, CFE, Senior Manager
A monthly series introducing you to a ShindelRock teammate...this month, we meet Marianne Lilly, Senior Manager. You specialize in audits and fraud examination--tell us about what you do for clients. I specialize in three main service areas at ShindelRock: audit...
Special Guest Author Chris Barry: The Ten Most Gruesome Estate Planning Mistakes
Few of us like to think about our own death, but it will happen eventually and the most responsible action you can take is to not only think about it but prepare for it with a professionally drawn estate and...
Mostly Unknown Pension Benefit Available For Veterans
American wartime veterans may qualify for an annual pension with aid and attendance benefits. This tax free benefit is paid monthly to the veteran or spouse. This benefit may help offset the cost of: Assisted Living Nursing Home Enhanced Independent...
The IRS announces more flexible terms to its Offer in Compromise program
The Internal Revenue Service recently announced another expansion of its "Fresh Start" initiative by offering more flexible terms to its Offer in Compromise (OIC) program that will enable some of the most financially distressed taxpayers to clear up their tax...
GM Salaried Retirement Program Changes–What Should You Do?
General Motors has decided to change its commitment under its salaried retirement program. As a retiree, GM has given you 4 options to receive your future benefits: Example 1 Voluntary Lump Sum Payment One-time payment to you...