10 Common Mistakes that Occur in Retirement Plans

There are a lot of combos that bring a smile to your face when you hear them: Peanut butter & Chocolate Laverne & Shirley (or for the younger set… Beavis & Butt-Head) Joe Montana & Jerry Rice Bacon & … anything Audit & Department of Labor I doubt that last one is on your list. [ … ]

Section 166 Deduction: What You Need to Know About Business Bad Debts

Abstract: When customers can’t pay up, it may be possible to deduct these bad debts under Internal Revenue Code (IRC) Section 166. But it’s important to understand what counts as partially or wholly worthless bad debt and how to claim the deduction. This article describes the different types of business bad debt and how the[ … ]

New EPA Rules May Mean Higher Fuel Costs

Abstract: The Environmental Protection Agency (EPA) has moved to reduce sulfur levels in the air by upping emissions and gasoline standards. But the American Petroleum Institute and other trade associations argue that the regulators are vastly underestimating how expensive the new rules will be for businesses and consumers, while doing little to help the environment.[ … ]

Control Costs with Defined Contribution Health Care Plans

Control costs with defined-contribution health care plans Rapidly rising health care costs and new federal insurance requirements may leave many managers scratching their heads at how to obtain quality insurance products at a reasonable cost. New defined-contribution insurance plans provide more coverage choices for employees, while setting fixed costs for employers. These insurance plans, much[ … ]

Illuminate Ways to Reduce Utility Bills with a Lighting Upgrade

Abstract: Manufacturers who have been considering upgrading their plant’s T12 fluorescent lights need to act soon. The U.S. Department of Energy pulled the plug last year on production of most T12 bulbs and ballasts — the most widely used fluorescent unit for the past 60 years. Another option is to invest in newer, energy-efficient T5[ … ]

What Kind of Trust Can We Set up to Take Care of Our Special Needs Child?

A. You can create a special needs trust. For example, a couple whose child has severe autism might want a special needs trust because they’re worried about how the child will survive after the parents’ deaths. Reasons a trust is beneficial: Many people depend on government benefits, such as Social Security, Medicaid, rehabilitative care and transportation[ … ]

Can I Use a Qualified Residence Trust for a Vacation Home?

Yes. Many people with second homes want them to stay in the family but also want to limit estate and gift taxes upon their transfer. One way to achieve this might be to create a qualified personal residence trust (QPRT). How Is the Property Valued? The gift’s value is determined by calculating the home’s present[ … ]

BeachFleischman named by Accounting Today as one of the “2014 Best Accounting Firms to Work for”

BeachFleischman CPAs was recently named as one of the 2014 Accounting Today’s Best Accounting Firms to Work for. Accounting Today has partnered with Best Companies Group to identify companies that have excelled in creating quality workplaces for employees. This survey and awards program is designed to identify, recognize and honor the best employers in the[ … ]