Accounting Portal Articles

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...

Software for Combining csv Files

  This program allows merging two databases in csv format via common nominator. For example You have an IT system with a database containing information on the ID number, amount, order number, and other...

Tangible Property Regulations

Source: Guidance Regarding Deduction and Capitalization of Expenditures Related to Tangible Property BackgroundExplanation of Provisions I. Overview II. Materials and Supplies Under §1.162-3A. Definition of materials and suppliesB. Election to capitalize certain materials and...