The Crystal Client Spotlight Shines on Litho Press

| Client Spotlight

What is 92-feet-long with an 81-foot catwalk, weighs 130 tons, required a specially poured concrete foundation, 14-foot-high ceilings and was delivered via a crane:  Litho Press’ newest printing press, the Heidelberg 47x 64.  Now that’s a printing press! Litho Press, an Alerding CPA Group client since 1999, started in 1953 and is third generation family-owned. They purchased the Heidelberg press to deliver beautifully printed products faster and better, supporting the company’s mission Read more [...]

How many employees does your business have for ACA purposes?

| Tax Briefs

By Bennie the Bean Counter     It seems like a simple question: How many full-time workers does your business employ? But, when it comes to the Affordable Care Act (ACA), the answer may be complicated. The number of workers you employ determines whether your organization is an applicable large employer (ALE). Just because your business isn’t an ALE one year, doesn’t mean it won’t be the next year. 50 is the magic number Your business is an ALE if you had an average of 50 or more Read more [...]

Top 10 Things to do for 2016

| Business Briefs, Tax Briefs

Get IRS Form W9 (Request for Taxpayer Identification Number) from your contractors for form 1099 preparation. Designate a “sacred” place for gathering tax records.  That way, you won’t waste time trying to find everything next January. Schedule quarterly budget reviews NOW.  By putting them on the calendar, you’re more likely to stick to them. If your company is an S-Corp, make sure your annual distributions are pro-rata based on ownership.  You don’t want to jeopardize your Read more [...]

How to prevent business identity theft

| Business Briefs, Business Miscellaneous

(Part 3 of 3 in the Business identity theft series) Business identity theft is one of the newest threats to businesses across the country.  Once a business’ identity has been compromised, the criminals can go on a spending spree buying electronics, office equipment, gift cards, liquidating lines of credit or opening new lines, filing fraudulent tax returns and more.  In severe cases, businesses have even had to close their doors because of insolvency caused by these criminal activities.  It Read more [...]

Putting your home on the market? Understand the tax consequences of a sale

| Tax Briefs

By Bennie the Bean Counter     As the school year draws to a close and the days lengthen, you may be one of the many homeowners who is getting ready to put your home on the market. After all, in many locales, summer is the best time of year to sell a home. But it’s important to think not only about the potential profit (or loss) from a sale, but also about the tax consequences. Gains If you’re selling your principal residence, you can exclude up to $250,000 ($500,000 for joint filers) Read more [...]

Need a silver lining? Try the NOL deduction

| Business Briefs, Tax Briefs

By Bennie the Bean Counter     The year’s not half over. But if your company is off to a rough start, know that a silver lining may exist in the net operating loss (NOL) deduction. The rules A net operating loss occurs when a business’ operating expenses and other deductions for the year exceed its revenues. To qualify for the deduction, you must have business expenses in excess of your business income, though certain modifications apply. Generally, once you incur a qualifying NOL, Read more [...]

How is employee fraud like gingivitis?

| Business Miscellaneous

By Jean Patterson, CPA, CFE (As printed in the Jan.-Feb. 2016 issue of Apex360, a dental industry news publication) In one of my study club presentations, I begin with this question: "How is employee fraud like gingivitis?" As it turns out, there is more than one answer. Both are costly and both can progress over time. The answer that was my focus, however, was "Both are preventable." No procedures can guarantee that you will never become a victim of employee fraud. There are, however, Read more [...]