“PILOT” PAYMENTS – Ever Increasing Amounts for Higher Ed and Non-Profits Payments made in lieu of taxes (PILOTS) by non-profits and colleges and universities has been an issue that has been around for a long time.  Currently they are in the spotlight now as more and more cities and towns seek read more »

Applies to Independent Contractors too

How do you distinguish between a business and a hobby?   Many of the same decisions are used in deciding if you should pay a vendor as an Independent Contractor or an employee.  Thought I’d include them here for you Answer: In making the distinction between a hobby or business activity, take read more »

Employers Providing Self-Insured Health Coverage Must Report on Information Returns

I believe all filings with the IRS should be reviewed by a Tax Manger or designated tax person at each school.  I would hope that HR would seek the advice of tax counsel before filing these returns.  If you are a Tax Manager, you should ask to review and be responsible for the correct filing. All read more »

Overview of the Employer Shared Responsibility Provisions

The Affordable Care Act contains specific responsibilities for employers. The size and structure of your workforce – small, large, or part of a group – helps determine what applies to you. Employers with 50 or more full-time equivalent employees will need to file an annual information return reporting read more »

Seventeen States Offer Sales Tax Holidays – Is yours one of them?

Are you selling items that may be tax exempt during these dates? See this link to see when they are in effect and what is exempt from sales tax : http://www.accountingtoday.com/blogs/debits-credits/news/back-to-school-shoppers-getting-sales-tax-holidays-75360-1.html?utm_medium=email&ET=webcpa%3Ae4857854%3A2799575a%3A&utm_campaign=daily-jul%2031%202015&utm_source=newsletter&st=email read more »

IRS Offers Safe Harbor for Janitorial, Landscaping and IT Maintenance Services

Revenue Procedure 2015-39 provides a safe harbor for accrual method taxpayers to treat economic performance as occurring ratably on contracts that provide services on a regular basis. In other words, under the safe harbor, a taxpayer can ratably expense the cost of regular and routine services as the read more »

Ohio, Tennessee and Washington Enact Click-Through Legislation

  Just as advancements in modern technology are changing the way we conduct business, they are also changing the way in which state governments assert sales and use tax registration and collection responsibilities, also known as "nexus.   Nexus is the minimum amount of contact between a taxpayer read more »

Texas cuts free meals for coaches to save money

The Longhorns are pulling free meals from all their coaches to save roughly $300,000. According to scout.com, coaches used to be able to eat with their players in the dining hall any time they wanted. Now, they’re being capped at 30 visits. Beginning that 31st visit and any time after that, it’s read more »