Accounting Portal Articles

AccuWage Software 2014

AccuWage is free software from Social Security. AccuWage is for use with Electronic Filing W-2/W-2C – EFW2 or EFW2C The software allows you to check W-2 (Wage and Tax Statement) and W-2c (Corrected Wage...

Ohio Sales Tax Holiday

S.B. 243 enacted a one-time sales tax holiday to occur only in 2015. The holiday starts on Friday, August 7, 2015 at 12:01 a.m. and ends on Sunday, August 9, 2015 at 11:59 p.m....

Quotes

Nothing works better than just improving your product.  Joel Spolsky It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds...

Maximum Standard Automobile Cost (2015)

For purposes of computing the allowance under a FAVR plan, the standard automobile cost may not exceed $28,200 for automobiles (excluding trucks and vans) or $30,800 for trucks and vans. Source Section 6.02(6) of...

2015 IRS Standard Mileage Rates

Optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes for 2015. Beginning on Jan. 1, 2015, the standard mileage rates for the...

Increase of the Arkansas Minimum Wage (2015)

Overview On November 4, 2014 Arkansas voters approved an increase to the state’s minimum wage. The minimum wage increase is as follows: $7.50 per hour effective January 1, 2015; $8.00 per houreffective January 1,...

2015 Pension Plan Limitations

The Internal Revenue Service today announced cost‑of‑living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2015. Many of the pension plan limitations will change for 2015 because the...

Hawaii General Excise Tax (GET)

What is the fee for a GET license? A one-time $20 fee. How can I apply for a GET license? The State of Hawaii Basic Business Application, BB-1 Packet, must be completed and submitted...

Penalty Relief Pilot for Small Retirement Plans

IRS will begin a one-year pilot program in June to help small businesses with retirement plans that owe penalties for not filing reporting documents. By filing current and prior year forms during this pilot...

3.8% Net Investment Income Tax

The Net Investment Income Tax is imposed by section 1411 of the Internal Revenue Code. The NIIT applies at a rate of 3.8% to certain net investment income of individuals, estates and trusts that...