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Blogging Beyond the Numbers

Posted by: Dan Bergs 2 months ago
You are now able to file tax returns since the IRS opened the 2018 income tax return filing season on January 28. This is a great year to file earlier if you typically wait until close to April 15 to file. There are a several reasons to file early. You can potentially protect yourself from tax identity theft, receive tax refunds earlier if you are due refunds, and know of any tax liability before April 15....
Commercial real estate
Posted by: Collin Alexander 2 months ago
Commercial buildings and improvements are generally depreciated over 39 years.  Depreciation means that you can deduct a portion of the building and improvement cost every year over the building’s depreciation period (1/39 every year).   That may seem like a long time but there are special tax breaks that allow depreciation deductions to be taken more quickly for certain real estate investments. Some ...
Posted by: Christin Biermeier 2 months ago
Have you noticed that sometimes you haven't been charged sales tax when making an online purchase? That doesn't mean that taxes weren't due. In this video, Emily and Abby break down the recent Supreme Court Decision that affects taxation for online retailers and shoppers - the South Dakota v. Wayfair ruling. Watch to find out what it means for you as a business and as an online shopper! https:...
Posted by: Cam Brawley 3 months ago
The Wisconsin Department of Revenue just announced that due to the extreme weather conditions, State agencies were closed for public business on Wednesday, January 30th. The United States Postal Service is also experiencing service disruptions throughout the state. As a result, due dates for sales, withholding and other business taxes (premier resort tax, local exposition tax, etc.) are extended. D...
Posted by: Kyle Ager 3 months ago
In December 2018, the IRS released Notice 2018-99 to clarify the taxation of parking expenses Under § 274(a)(4) and § 512(a)(7) of the Internal Revenue Code. The notice reaffirmed that the amounts paid to a 3rd party for employee parking spots by a taxpayer or exempt organization are subject to tax. The majority of the notice focused on how taxpayers or exempt organizations should handle owned and lease...
Posted by: Chris Bell 3 months ago
We would like to thank you for your generosity in 2018. Your donations, no matter how small, can help those in need daily. If you contributed to a qualified charitable organization in 2018 you should start seeing those contribution statements delivered soon. But if you don’t receive a statement regarding your contributions, can you still claim the itemized deduction on your 2018 tax return? The answer (li...
Posted by: Erin Ezdon 3 months ago
So you’re in charge or your company’s retirement plan… what does this mean for you? The Employee Retirement Income Security Act (ERISA) protects your plan’s assets by subjecting those in charge of the plan with fiduciary responsibilities. Plan fiduciaries may include plan trustees, plan administrators, and members of a plan’s investment committee. Your primary responsibility as the fiduciary i...
You win you lose
Posted by: Cheryl Wittmann 3 months ago
The honest answer to that question is it depends.  The Tax Cuts and Jobs Act (TCJA) generally reduced individual tax rates for 2018 through 2025.  The increase of certain tax credits for families will also help many. However, the elimination of certain tax breaks and the reduction of others could actually increase your taxable income. To add further confusion to the mix, something as simple as what your f...
Faith in Numbers
Posted by: Hannah Lanser 3 months ago
Faith in Numbers was created as an educational offering to churches and religious organizations in the Midwest region. Additionally, we wanted to provide an opportunity to gather with similar organizations to network, share insights and solutions, and act as resources for each other. As such, we want to reiterate our gratitude to the speakers, sponsors, and attendees who made Faith in Numbers 2018 a success...
Retirement Plan
Posted by: Hannah Lanser 3 months ago
Have you heard of the 403(b)(9) plan? This type of plan, as opposed to an IRA, 403(b), 403(b)(7) or a 401(k) plan, has two key benefits for ministers described in greater detail below. Many churches are using one of the other categories of plans as opposed to the more advantageous 403(b)(9). There are multiple reasons for this. Typically, the retirement plan vendor of choice is either a local financial repr...