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Blogging Beyond the Numbers

Amanda VanNatta
Posted by: Amanda VanNatta 4 months ago
https://youtu.be/WI_hNOR__o4 Transcript: Welcome to “Accounting for Non-Accountants,” our how-to video series that answers your everyday questions about accounting.  In this video, we will be discussing how an organization can bring credibility to their financial statements which are done in one of three ways:  a compilation, a review or an audit.  All three statements require an organiz...
Posted by: Cam Brawley 5 months ago
Just like the lyrics to Auld Lang Syne: Should auld acquaintance be forgot, And never brought to mind? Should auld acquaintance be forgot, And auld lang syne? Let’s not forget the new tax rates/limitations that became effective January 1, 2020 as many of these new limits affect your businesses.  Let’s take a look at a few that have been indexed for inflation.  Note these are only som...
Posted by: Mike Scholz 7 months ago
Health and accident insurance premiums paid on behalf of a 2% S corporation shareholder-employee should be reported as wages on the shareholder-employee’s Form W-2, subject to income tax withholding. In addition, the medical premiums paid by the S corporation for the 2-percent shareholder-employee’s spouse and dependents should also be included in the wages of the shareholder. Noncompliance with this r...
Posted by: Whitney Mauger 7 months ago
The holiday season is now officially in full swing. Many businesses show their gratitude to employees and customers by providing gifts or hosting holiday open houses and parties. It’s a good idea to understand the tax rules associated with these expenses.   What’s the tax treatment to the business and tax treatment to the recipients (employee vs customer/vendors)? If you make gifts to custom...
Accounting for Non-Accountants
Posted by: Christin Biermeier 9 months ago
Audits aren't supposed to be scary. Watch as Abby and Emily give some practical tips to make your audits a little less scary and make sure you don't give your auditor a fright! https://youtu.be/XuSCRTT0EBQ ...
south dakota v wayfair
Posted by: Cam Brawley 10 months ago
Many states are making changes on October 1, 2019 for sales & use tax purposes.  This effects all sellers of tangible personal property, digital goods or services across state lines. The 2018 Supreme Court decision in South Dakota vs. Wayfair, Inc. changed the previous standard of only requiring sellers to register and collect sales & use taxes in jurisdictions in which the seller had a phy...
College graduate giving thumbs up
Posted by: Kent Collier 10 months ago
College is expensive. The latest figures from the University of Wisconsin–Madison show that the average annual cost of tuition and fees was over $11,000 for in-state students and almost $39,000 for out-of- state students. Additionally, these amounts do not include room and board, books, supplies, transportation, and other expenses that a student would likely incur. Two Tax Credits Fortunately, even...
Posted by: Swati Jain 10 months ago
Are you a small employer and wondering if you can provide your employees with a standalone health reimbursement plan which is compliant with the Affordable Care Act (ACA)? A Qualified Small Employer Health Reimbursement Arrangement (QSEHRA) may be the answer. What is a QSEHRA? A QSEHRA is a health reimbursement plan for businesses with less than 50 full-time equivalent employees.  Under a QSEHRA ...
Accounting for Non-Accountants
Posted by: Christin Biermeier 10 months ago
Starting out in the workforce with what may be your first real job is an exciting time. But before you get in over your head with new spending habits, you should first evaluate your financial situation. Watch as Abby and Emily provide you with 3 essential money management tips for young professionals. https://youtu.be/x7iM8Rdq1OQ ...
Volunteering tax break
Posted by: Cheryl Wittmann 12 months ago
Volunteering is a great way to contribute your time and skills to a cause close to your heart.  Unfortunately, when you donate time and services, you are NOT allowed a deduction for the value of the time and services.  It doesn’t matter if the services you provide require significant skills and experience that a charity would need to pay dearly for if it were to obtain the services on its own.&...

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