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If you'd like a free initial consult with a Wilmington NC CPA Firm offering payroll services, please call us at (910) 399-2705 A hot IRS issue is their 6,000 random employment tax audits which started this year. One component of this initiative is determining if independent contractors, used by the audited companies, are actually employees. ”The IRS loses billions . . . → Read More: Payroll Service Issue: Employee Versus Independent Contractor Status
Section 179 helped cause the proliferation of SUVs Background Section 179 of the IRS tax code allows a business to immediately deduct the entire cost of capital purchases (think equipment) from the company’s tax return. Subject to conditions of course. “The 179 expense deduction is the ultimate accelerated depreciation technique.” Depreciation started as a way . . . → Read More: IRS Section 179 Expense and Depreciation Lots of financial discipline and expense go into that first Bond! As a construction accountant, my experience is that bonding comes up a bit late in the game, once a potential job is basically forfeited because of it. “Because it takes a lot of preparation to obtain that first Bond, even if you are bondable.” |
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Copyright by Gary Bode, CPA © 2011 Gary L. Bode, MSA, CPA, pc -Disclaimers- All Rights Reserved |
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