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Tom Luken, President, Kolb+Co., describes highlights and achievements from 2008.
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Mark Miller, CPA Kolb+Co., discusses how you will be impacted by "The American Recovery and Reinvestment Act of 2009." He lists selected tax incentives from this 2009 Stimulus Plan.
Jim Brandenburg, Kolb+Co, describes some of the tax strategies and planning opportunities from the 2009 tax legislation that may impact you, your family and your business.
Tom Luken, President, Kolb+Co., describes the firm's highlights and achievements from 2009 and plans for 2010.
Year-end tax planning is more important than ever due to the uncertainty in the legislative landscape and current economic times. Author Steve D'Amato offers some tax-planning strategies that can help mitigate your losses and reduce your exposure to risk.
Lacey McCarty, Kolb+Co. tax senior, provides valuable information for 2011 year-end tax planning. Whether you need advice as an individual or for a business, take advantage of these hints and tips.
The Patient Protection and Affordable Care Act of 2010 includes a provision that imposes a new 3.8 percent surtax on unearned income of higher-income individuals starting in 2013. Author Neil Keller clarifies and elaborates on the details of this provision as well as provides some tax planning tips.
Many taxpayers assume a change in method only occurs when changing the overall method of accounting, such as from the cash method to the accrual method. A change in accounting method for tax purposes, however, can apply in a number of situations and may present tax savings opportunities or may minimize tax exposure.
In today's economy, it is important for contractors to know a project's variable and fixed costs in order to identify the right work to sell and produce. Author Bart Adams demonstrates how knowing the fixed and variable costs on every project can be critical to any contractor.
In these current economic times, it is imperative that business owners constantly review key information to assess the health of their companies. Reviewing your accounts receivable, profit fade and tangible working capital can mean the difference between just surviving and thriving in today's economy.
John Kielich and LeAnne Foster, present a list of questions that all surviving companies have answered. They apply if you are trying to add value to your business, sell your company or just survive in this economy.
Small businesses suffering financial hardship may see some relief from the slow economy. Beginning June 15, 2009, the Small Business Administration (SBA) began guaranteeing America's Recovery Capital (ARC) loans.
Valerie Johnson, Director of Wealth Management for Kolb+Co Financial Advisers, discusses the various annuity types and how annuities can play a role in the diversification of your retirement plans.
John Kielich recommends an evaluation process and exit plan development for the owner of an organization.
Bart Adams, Shareholder - auditing and accounting at Kolb+Co., looks at better budgeting for better business.
Jerry Schmit, Tax Senior Manager Kolb+Co, explains why an analysis of your fixed asset acquisitions and the timing of placing these assets in service should be completed before the end of 2009 to optimize the federal tax depreciation deduction
Dan Donarski, Director Kolb+Co. Technology Services, discusses how to identify and implement information strategies.
Competing in an extremely challenging market puts even more pressure on construction firms to be as valuable as possible to their clients. Why not add some tax knowledge to your value-add activities? This article will give you a brief overview of cost segregation analysis, increased and expanded Section 179 expensing, bonus first year depreciation, and energy efficient commercial building property deductions, which all are potential savings your clients will surely appreciate!
Jim Brandenburg, Kolb+Co. Shareholder, provides insight into tax changes that may occur in 2012 and 2013. It might be a good time for a tax cut "double check."
The mounting national debt has become the subject of much political debate. Jim Brandenburg, Kolb+Co. tax shareholder, provides an overview of the arguments for and against increasing the debt ceiling.
While Washington continues to sort out its new political make-up and leaves taxpayers in a seemingly perpetual state of uncertainty, author Jim Brandenburg looks a little closer to home at what to expect in Madison next year.
Jim Brandenburg, Kolb+Co., dicusses the stimulus plan and proposed major provisions.
This column is not about the celebrated Milwaukee Art Museum or the local art fairs across the state this time of year. It is about art of a different form, the politics of tax legislation in Washington - specifically, the art of the Alternative Minimum Tax (AMT).
Jim Brandenburg, Kolb+Co. shareholder, provides history, reflection and insight on Veteran's Day (11-11-11).
From sports to politics, Jim Brandenburg, Kolb+Co. Shareholder, shares his predictions for 2012.
It is hard to believe that the tragic events of 9/11 were 10 years ago. As we all remember that day, Jim Brandenburg, Kolb+Co. shareholder, reflects back on September 2001.
Taxes weren't cut, but at least Congress finally extended the tax rates. However, with all of the new leaders, we are sure to see some changes throughout the new year and into the future. Wouldn't it be great if there was an app for simplifying all of these changes?
The long anticipated and highly publicized 2010 elections are over, and Scott Walker will soon be our new Wisconsin governor. Nationally, the Republicans will have a majority in the House but not in the Senate in January. How will major tax issues be impacted by the results of the election?
D-Day, June 6, 1944, is often seen as the turning point in World War II. A D-Day of sorts, from a tax standpoint, is approaching soon. January 1, 2011 will bring several rather significant tax changes.
November, 2009: The health care reform legislation, originally planned to pass this summer, now moves to the 11th hour in the 11th month. Here are Jim Brandenburg's observations.
Jim Brandenburg, Kolb+Co. shareholder, highlights the recent debt ceiling debate and expands upon some of the major issues in the agreement to raise the debt ceiling.
As we stop to reflect on our independence this time of year, there are certain numbers that come to mind: 1776, 13, 56 and 10. Shareholder Jim Brandenburg provides reflection on numbers from the past and insight on numbers from the present into the future.
There is no waiting for basketball to heat up the action in Madison this year! Author Jim Brandenburg comments on recent events at our state capitol specifically tax bills affecting businesses and individuals in Wisconsin.
Jim Brandenburg, Kolb+Co., highlights a few of the tax increases in the 2009 budget that are directed at businesses.
Jim Brandenburg, Kolb+Co., describes selected tax provisions from the 2009 federal and state budgets.
Jim Brandenburg, Kolb+Co., writes about the rules of engagement for political battles on Capital Hill. One must now determine if a certain bill has reconciliation protection.
Jim Brandenburg, Kolb+Co., discusses upcoming legislation for 2010 including extender, small business, estate tax and financial market legislation.
Read about some of the legislation that will be stuffed into the legislative calendar over the next few weeks: health care reform, extension of expiring tax provisions, estate tax, jobs package, stock tax and "Afghani-Tax.”
While the oil spill has created financial, environmental, and even political damage, the attention drawn to this crisis has diverted the focus and efforts of several major tax matters. Author Jim Brandenburg provides a midyear update on several of the tax proposals on the docket, including a few that are currently pending in Congress.
Jim Brandenburg, Kolb+Co., dicusses the curious relation between the movie Alice in Wonderland and the current tea party movement.
Jim Brandenburg, Kolb+Co., describes the health care reform and jobs bill in Congress.
Jim Brandenburg, Kolb+Co. shareholder, provides additional insight into the "Super Committee" that was created based on the debt ceiling negotiations from this past summer. Which "super committee" will be more prevalent this fall: the Washington "Super Committee" or the Wisconsin "Super Committee?"
Jim Brandenburg, Kolb+Co. Shareholder, provides valuable insight about what The Congressional Joint Selection Committee on Deficit Reduction (also known as the Super Committee) has accomplished and some options that are available to Congress.
The stakes are high and both teams are ready to defend their turf! Yes, the Republicans and Democrats have made some progress in resolving the vital issues, but there is still a lot to be decided.
April showers bring May flowers! Congress has been showered with tax proposals through out the year thus far. Author, Jim Brandenburg, discusses the likelihood and impact of these proposals blooming into tax changes.
Jim Brandenburg, Kolb+Co., discusses the events leading up to Christmas and the passing of the health care reform legislation. The first part of 2010 stands to be busy as Congress has many bills to address that were not completed during 2009.
Even with continual technological advancements, some changes seem to bring us back to bygone eras. Similar to TVs, legislation also beckons back to earlier eras with tax matters shifting into "high def."
As the debate for national health reform intensifies, many questions remain. Will a plan be enacted this year? Will there be a "public option"? Will private health insurance continue to be available? Will citizens be able to visit their own doctors and hospitals?
Congress is returning home for a final month of campaigning. However, Congress left many issues open for the post-election sessions in November and December. These "lame duck" sessions often have some legislation to clean up but, this year, significant pieces of important bills must be addressed.
Did you know that the federal income tax will celebrate its 100th anniversary in a few years? Take a trip through time with Jim Brandenburg as he shares some notable moments in income tax history.
Jim Brandenburg, Kolb+Co., addresses the surprise victory by Republican Scott Brown and the impact on Washington and Capital Hill. Politicians are rethinking their stand on health care reform and other initiatives.
Bart Adams and Jim Brandenburg discuss the Internal Revenue Service's Global High Wealth Industry group and the effect it has had on audits in recent years as well as provide suggestions for action to take upfront.
This year, in honor of Kolb+Co.'s 50th anniversary, we are focusing our efforts on giving back to our local community. To further Kolb+Co.'s commitment, we have established the Kolb+Co. Volunteer FORCE (Focus on Raising Community Engagement) program.
With the newly proposed accounting standard on leases in the comment phase and anticipated to be released during 2011, it will be important for businesses to plan ahead for this change. Author Brad Netzel discusses the significant changes proposed and how to plan for these changes.
This Kolb+Co. article is the first in a two-part series and covers some background on IRAs and what changes lay ahead in 2010 for Roth IRA conversions.
This Kolb+Co. article is the second in a two-part series and covers some background on IRAs and what changes lay ahead in 2010 for Roth IRA conversions.
As we start a new year once again, we like to keep all of you up to date on the happenings at Kolb+Co. from the past and upcoming years! Please enjoy a flashback to the start of Kolb+Co. as we celebrated our 50th anniversary and an overview of Kolb+Co.'s 2010 accomplishments: growth of public seminar series, expanded service lines, inauguration of the Kolb+Co. Volunteer FORCE and more.
Recent revisions to the Revenue from Contracts with Customers exposure draft have been posted and may have a large impact on how contractors recognize revenue.
Is your building a good candidate for a cost segregation study by Kolb+Co? Learn what to consider. If you're a candidate, you may be eligible for a reduction in income taxes.
Energy costs are a significant expense for most businesses. As your business seeks to manage its energy costs, it is important to be cognizant of various energy tax incentives. This article discusses some of the energy credits from which businesses could benefit.
If you and your employees spend hours a day working at computers, here is an easy way to save time and resources, while increasing productivity. By adding a second monitor to your computer, you can avoid much of the wasted printing you currently do. But that's only the beginning. Click "Full Article" for more details on how dual monitors can increase productivity.
Suzanne Denzine, Kolb+Co. shareholder, offers recommendations for successfully implementing electronic medical records.
Congress amended the Internal Revenue Code to expand the filing requirements for Form 1099-Miscellaneous Income (1099-MISC) starting in 2012.
With the end of the year fast approaching and health care reform still in the news, it is a good time to review tax items that are reported differently in 2010 for federal and Wisconsin purposes on an employee's Form W-2. In this article, author Robert Denkert discusses the differences between federal and state reporting of employer-provided health insurance for children and health savings accounts.
The IRS has issued new regulations regarding fee and service disclosures to both plan sponsors and plan participants. Ginny Gribble, Kolb+Co. director of retirement plan services, provides a detailed explanation for what the changes mean for businesses.
There are many issues facing manufacturers in Wisconsin, and possibly the most critical is employment--employers need skilled workers. At the same time, workers need access to affordable, timely career and training programs. Wisconsin lawmakers are trying to bridge this gap.
Mark Sobczak, Shareholder - Auditing & Accounting, explains how each year fraud cases go undocumented because they are not prosecuted by the employing organization and/or organizations do not know they are victims.
Enterprise Resource Planning systems can play a valuable role in your organization's efficiency. Now may be a good time to evaluate if your ERP is still adequate for your needs.
Have you started making a list of your new year's resolutions yet? Do you have a list for your business? Now is a great time to start planning how you can help your business start the new year off right. Author Peter Schubilske explains how implementing lean management strategies is a great resolution to have on the list.
Life insurance provides security to businesses, families and individuals when the inevitable happens. It is an important tool when planning for your future. Have you asked yourself the question: Got Life?
Ginny Gribble, Director Kolb+Co Retirement Plan Services, discusses the latest in Retirement Planning: suspension of 2009 minimum required distributions, EGTRRA Plan Document Restatements, mid-year Suspension of Safe Harbor Contributions and more.
Practices can now cash in on the Electronic Health Records Medicare and state Medicaid incentive programs. Suzanne Denzine, Kolb+Co. shareholder, explains the incentive programs for both Medicare and state Madicaid, as well as tips for receiving the incentive payouts.
Knowing where your business is at is the key to getting to where you want to go. Do you know how you did over the last year? Do you know how you did compared to the year before? Are there trends that you could use to get your company to the next level? Conducting a review of your prior year-end budget can help you see where you need to put your focus in 2011.
As a business owner, have you assessed how the amount of your salary could help or hinder the business from a tax perspective? Mark Miller, Kolb+Co. tax shareholder, shares information about how much salary a business owner should take.
Hurricane Irene's destructive power has even affected the Internal Revenue Service (IRS) by forcing an extension of the deadline for the 2011 Offshore Voluntary Disclosure Initiative (OVDI) to September 9, 2011.
Neil Keller, Kolb+Co. Shareholder - Tax, addresses a potential tax benefit: selling to foreign countries using an Interest Charge – Domestic International Sales Corporation (IC-DISC) may allow companies to realize federal income tax savings.
Is not the time to "un-convert" your Roth IRA? Mark Miller, Kolb+Co. Shareholder, provides the pros and cons of recharacterization.
Authors, John Kielich and LeAnne Foster, offer their wishes for the new year. From the M&A market to employment, they wish each of you a happy, healthy and prosperous 2011.
Authors, John Kielich and LeAnne Foster, offer their wishes for the new year. From the M&A market to employment, they wish each of you a happy, healthy and prosperous 2012.
Do you have processes and procedures that have been in place for decades? It may be a good time to review areas of your business that could use some updating. John Kielich provides a few places to start looking for new efficiencies in old procedures.
Authors, John Kielich and LeAnne Foster, discuss takeaways from the June Helping Your Business Grow seminar that provided insight on doing business in Europe from a panel of experts.
The phrase, "keep an open mind," is a mantra for many successful people. Authors John Kielich and LeAnne Foster explain how that same mantra can help you find great opportunities in the M&A world.
Earnings Before Interest Taxes Depreciation and Amortization (EBITDA) is often used as a measurement of value in the M&A world. Learn why this calculation my paint a less-than-accurate picture of the company at hand.
Quick reactions and a proactive mindset is needed more than ever to survive and thrive in today's market. Read more to learn what questions to ask yourself to see if you are poised for action and thinking proactively.
Miscommunications in business transactions can be the demise of any transaction and/or relationship. John Kielich and LeAnne Foster illustrate the importance of documentation and lists those documents you should be sure to have your advisers assist with.
Kolb+Co. M&A Advisers provide some quick glances and commentary regarding current topics in the business world as of November 2010...and wish you a very happy Thanksgiving!
Timing the sale of a business can sometimes be just plain luck, but John Kielich and LeAnne Foster offer their perspective on the strategy of timing a sale, the current market and what may lie ahead.
As with any project, there are several ways to get to the end goal: good, bad or ugly. Often timing plays a large role in the route we take to get to that end goal. Authors John Kielich and LeAnne Foster discuss how you can help your advisers speed up the sale of your company.
Multitasking has its merit, but certain activities deserve your undivided attention - like driving a car and running your business. Driving your business with only one hand on the wheel can be a dangerous habit.
New tax legislation slated for the near future should always raise a red flag for business owners to assess whether the time is right to sell. Now is such a time as the Federal Capital Gains Tax rate looks as though it will be raising within the next year.
Projected revenue, although carefully calculated, is a fairly subjective number based on assumptions of the future. To see how optimistic the projection you are looking at is, there are some key questions you should ask.
Outsourcing has always been an option in strategic business development plans. Now, with specialization, technology and other developments, outsourcing is more than just a way to save money.
Earning four to six times the amount you invested has to be an attractive offer to anyone. Authors, John Kielich and LeAnne Foster, offer suggestions to business owners looking to sell on how to boost their return.
It's always good to get an outside perspective on projects, especially large one such as starting a business. John Kielich and LeAnne Foster talk about the importance of asking your trusted colleagues and contacts to take a look at your business plan to suggest problem areas and provide ideas for even more success.
Monetary value is an important factor in selling your business, but there are many other items to consider when deciding which offer is best. John Kielich and LeAnne Foster offer suggestions on which items may be on your list of priorities.
Authors, John Kielich and LeAnne Foster, discuss the reasons Private Equity Firms are selling and maybe why you should consider it as well.
Brief overviews of the incentives for investment, access to capital, and support of innovation and entrepreneurship included in the Small Business Jobs Act of 2010.
Planning and preparation is key to success in any endeavor whether it's season of baseball or the sale of a business. John Keilich and LeAnne Foster illustrate how a little extra preparation can go a long way in the M&A world.
Reports are showing that the economy is on the upswing, but is waiting the right approach to take in such a market? John Kielich and LeAnne Foster discuss different options for selling or growing your business.
We continue to be optimistic about the economic crisis ending and things improving. However, regardless of what economic conditions are, you can address a critical factor that will position your company for future success--the players within your organization.
There are many factors that go into a successful M&A transaction. Factors that need to be addressed right away and throughout the process. John Kielich anbud LeAnne Foster expand on how ensuring all parties involved, especially your advisers, will contribute to the outcome of your transaction.
What would it take to screw up your company? Ask that questions and find you may find a few areas to improve within your company.
Fraud can happen to any company at any time. Do you know if your internal controls are up to par? John Kielich offers some ideas on where to start and what to look at within your company to detect and prevent fraudulent activity.
Authors, John Kielich and LeAnne Foster, discuss the how to get the price you want for your company.
Dan Donarski, Director Kolb+Co. Technology Advisers, reviews techniques for realizing IT cost savings.
The economic events of the past two years, combined with the increase in government oversight, has dramatically changed our awareness of the nature and extent of business and personal risk. Author Karen Doerner offers ways to mitigate your exposure to risk.
Jerry Schmit, Tax Senior Manager Kolb+Co., addresses potential IRS filing requirements for owners of foreign bank accounts.
Valerie Johnson, Director of Wealth Management at Kolb+Co. Financial Advisers, talks about having steady nerves when the market is in turmoil.
IGAF Polaris, the new global accounting association forming out of the merger of Polaris International, Fidunion, and IGAF Worldwide, will enhance Kolb+Co.'s ability to provide expertise and resources to meet growing client needs, both internationally and domestically.
Thursday, August 19, 2010 was proclaimed Kolb+Co. Day by Miwaukee County Executive, Scott Walker.
On May 6th, Kolb+Co. will close at 11:00 a.m. for its second annual Volunteer FORCE (Focus On Raising Community Engagement) Action Day. All employees are invited to participate in a firm-wide volunteer project at Phantom Lake YMCA Camp (http://www.phantomlakeymca.com/) in Mukwonago, Wisconsin.
Dan Donarski, Director Kolb+Co. Technology Advisers, reviews how implementing a lean front office can eliminate duplicate work and manual processing, increase staff availability, improve order-to-cash processing and effective technology utilization with integrated controls.
Steve Spector, managing director of risk management services, recommends that you take advantage of the opportunities that a life insurance appraisal provides. It will help you, your family or your business make sure that your coverage is meeting your current and future objectives.
Much has been published about cloud computing, and while most of it provides valuable information, some of it has been mislabeled or misinterpreted. George Ulbrich, Manager of Information Technology, guides us through the fog of cloud computing by providing definitions, possible risks and potential ways to mitigate these risks.
Popular opinion is that tax rates are going to go up. Ginny Gribble, Director Kolb+Co Retirement Plan Services, offers strategies for qualified retirement plans that might be advantageous in an increased tax environment.
Steve Spector, Managing Director Kolb+Co Financial Advisers, writes about seniors who have set aside inheritance funds for heirs and need to mitigate inheritance losses. Life insurance is one way to mitigate this issue.
Jo Stahl, Kolb+Co., addresses legislation known as the "iTunes Tax". Sellers and purchasers should examine their potential sales and use tax exposure and modify their tax practices accordingly before the end of 2009.
Kolb+Co. is ready to ring in the new year! Tom Luken, Kolb+Co. President, provides highlights from 2011.
Joy Duce, Director of HR for Kolb+Co., writes about the American Recovery & Reinvestment Act of 2009 (ARRA) that was signed by President Obama. She explains the new provisions for employers administering employee health benefits under federal COBRA legislation.
Lynn Keller, Tax Senior Manager Kolb+Co., reviews the tax changes that resulted from the February, 2009, Wisconsin economic recovery bill.
Companies that export property as well as firms that perform certain engineering and architectural services on foreign construction projects may benefit from establishing an Interest Charge - Domestic International Sales Corporation (IC-DISC). Recent legislation offers tax savings through an IC-DISC. Author Neil Keller summarizes the general setup, operation and tax benefits involved with an IC-DISC.
A new statute requiring a 3 percent tax be withheld from certain payments for property or services made by governmental agencies will take effect December 31, 2012. Jim Brandenburg, Kolb+Co. tax shareholder, provides additional information about how this legislation may impact your business.
As we wrap up 2011 and get ready for 2012, there is one more thing we need to consider adding to the to do list: reviewing our record retention. Jenny Kramer, Kolb+Co. tax senior manager, provides useful information and explanations of what files and records need to be maintained and for how long.
Uncertainty in the M&A world exists as the economy continues to set the tone for the market. However, owners of manufacturing companies have many reasons to be optimistic even today.
Jim D. Brandenburg, CPA, MST, Shareholder, and Joy J. Duce, SPHR, Director of Human Resources, explain the recent changes at both the federal and Wisconsin level regarding health insurance coverage for dependents.
After a lengthy period of very few changes in the payroll world, 2009 and 2010 have had changes at both the federal and state level. This article provides an overview of recent payroll changes that affect employers.
Joy Duce, Director of HR for Kolb+Co., discusses how to retain your most valued assets - your employees. She offers strategies for engaging and retaining your employees.
The manufacturing industry is beginning to see signs of recovery from the recession. Brad A. Netzel, CPA, auditing & accounting senior manager, provides insights and recommendations on reviewing decisions that were made during the recession. He addresses such topics as: evaluating your workforce, taking advantage of incentives, reviewing old strategies and planning for future funding requirements.
In today's electronic age when businesses look for new ways to improve profit, we sometimes forget that simple, time-honored gestures often work best. And it takes only two words: Thank You!
As businesses strive to make the most of time and resources, the ability to access information while out of the office becomes a very compelling reason to use Smartphones. To protect the vital information stored on Smartphones, it is important to manage all of the devices used and review the security and risk that these devices are creating within your business.
More than manufacturers can benefit from the new deduction for domestic production activities. Learn if you qualify as Melissa Lutgen explains some of the details regarding the Domestic Activities Production Deduction. Some worthwhile tax savings may be coming your way!
In part one, of a two part series, on Wisconsin tax breaks for the sale of stock, Lynn Keller, Kolb+Co. tax senior manager, discusses the importance of understanding capital gain opportunities in Wisconsin for the sale of qualified small business stock and the sale of business and farm assets to related persons.
Tom Luken, President Kolb+Co. welcomes in 2010 and a new decade. We are celebrating our 50th year of service and are hard at work determining how to best recognize this milestone anniversary.
John Kielich cautions us to stay focused in these tough economic times. He recommends several strategies.
Peter Schubilske, Kolb+Co., describes specific threats that make surviving a down economy even more difficult for contractors. Peter's strategies target just a few ways to manage those threats.
While the construction industry is awaiting a turnaround in the economy, it is essential that general contractors do not overlook issues that affect their profitability. By developing a pre-qualification process for subcontractors, general contractors may be able to mitigate some risk that is inherent in the construction industry. This article reviews a few objective criteria to consider when pre-qualifying a subcontractor.
The R&D credit has experienced a turbulent legislative life. While it has been around for nearly 30 years, its availability has been inconsistent. On December 31, 2009, the R&D credit expired; however, it is likely that it will be extended retroactively to January 1, 2010.
The recently passed Wisconsin State Budget includes many tax changes for businesses and individuals. Jim Brandenburg, Kolb+Co. Tax Shareholder, provides a summary of some of those changes.
Jim Brandenburg, Kolb+Co, discusses tax savings resulting from "Casualty Loss" laws. These laws provide itemized deductions for personal losses from fires, storms, car accidents, thefts and similar unusual events.
As you may have already heard, late on Friday, December 23, 2011, Congress enacted and the president signed into law the Temporary Payroll Tax Cut Continuation Act of 2011. The legislation temporarily extends the two percentage point payroll tax cut for employees, continuing the reduction of their Social Security tax withholding rate from 6.2 percent to 4.2 percent of wages paid through February 29, 2012.
A recent event held at Waukesha County Technical College (WCTC), provided attendees with valuable information about financing incentives and programs available in Waukesha County.
Erin Horman, CPA, addresses the issues to evaluate when considering a "like-kind exchange" of property. It is a useful tool to defer taxes but one must proceed carefully.
With most states looking under the sofa cushions for cash to balance the budgets, there has been an increase in the enforcement of sales and use tax laws as a way to raise funds. Bob Denkert, Auditing & Accounting Senior Manager, explains what is subject to sales tax, what you may be required to pay sales tax on as a business, reporting procedures and potential penalties for failing to obtain or pay sales taxes in Wisconsin.
Ginny Gribble, Kolb+Co. Director of Retirement Plan Services, provides information about new qualified retirement plan participant fee disclosure regulations.
Erin Horman, Kolb+Co. tax senior manager, provides an overview of the recently updated Wisconsin Department of Revenue Publication 207, which deals with sales and use tax for contractors. She also includes specific examples that help with the understanding of the revisions.
Lynn Keller, Kolb+Co., addresses items that would be subject to sales tax if purchased in Wisconsin are subject to Wisconsin use tax when purchased from out-of-state vendors and used in Wisconsin.
As businesses become more global, an increasing amount of American companies are encountering and paying value-added tax (VAT). Steve D'Amato, Kolb+Co. tax senior manager, explains more about VAT and how it may impact your business.
Through the 2009 Offshore Voluntary Disclosure Program (OVDP) taxpayers disclosed more than 15,000 foreign accounts in more than 60 countries, and more taxpayers have come forth since the lapse of this initiative. The IRS has now announced a second program with the same goals, the 2011 Offshore Voluntary Disclosure Initiative (OVDI). Read more about the 2011 OVDI as Steve D'Amato explains the penalties involved, reporting rules and other details.
House Ways and Means Committee Chairman, Dave Camp, released a discussion draft about the committee's focus on international tax reform. The discussion draft provides insight on the aim of the Ways and Means Committee in regards to their comprehensive tax reform agenda.
Tom Magnor, CPA, discuss the impact of the law Governer Doyle signed on March 15, 2010 conforming Wisconsin's Roth IRA conversion rules to the federal rules.
Marie Millard, Tax Manager Kolb+Co, addresses the Streamline Sales and Use Tax Agreement (SSUTA). SSUTA is intended to simplify and modernize sales and use tax administration by making tax reporting more uniform across state and local taxing jurisdictions. Effective October 1, 2009, Wisconsin will be the 23rd state to adopt SSUTA.
Effective July 1, 2009, significant changes have been made to the treatment of single-owner entities regarding sales and use tax for Wisconsin purposes, impacting contractors and other businesses doing business with certain tax-exempt entities.
This is the second article of a two-part series discussing significant changes that have been made to the treatment of single-owner entities regarding sales and use tax for Wisconsin purposes. The change impacts contractors and other businesses doing business with certain tax-exempt entities.
Manufacturers in Wisconsin are finding it more and more difficult to find ways to attract and retain younger employees. Brad Netzel, Kolb+Co. Auditing & Accounting Senior Manager, provides an overview of a recent workshop that was cosponsored by Kolb+Co. to brainstorm solutions for the problem.
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