Archive for February, 2011
In honor of March being Women’s History Month, Anita Sherman, CPA, Managing Partner of Greenwalt CPAs has been selected as one of four women featured in the First Quarter 2011 issue, titled “Transcending Businesses – A Look at Four Hoosier Women Excelling in Various Fields,” in Indiana Minority Business Magazine. The article states how women are breaking the barriers in various fields of business, as well as profiling the four women selected.
by Jim Wagoner, CPA | Partner, Director of Professional Services Team
Law firms across the United States remain under clouds of economic uncertainty, making some attorneys eager to keep busy and prove their worth. Sometimes, though, these attorneys are undermining firm profitability by doing work that’s better left to paralegals and creating a ripple effect of staff members performing tasks for which they’re overqualified. To prevent such problems, you need to ensure you’re using your paralegals effectively.
by Larry Greenwalt, CPA and Marie Jett, CPA
If you have been following our newsletters, you are aware that the new estate tax law raised each individual’s lifetime exemption to $5,000,000. Less understood by many is the fact that under old law, each person was limited to a lifetime exemption of only $1,000,000 before incurring a gift tax (excluding individual annual gifts of $13,000 or less). Under the new law, the lifetime exemption is increased to $5,000,000.
Marie Jett, CPA | Member of the Tax Services Group
There are a few options that employers have available to them in order to account for vehicles used in business. The following methods and policies describe the options available to an employer.
Brandon Cook, CPA | Manager, Tax Services Group and Team Member of the Construction Services Group
317.241.2999 | bcook@greenwaltcpas.com
Back in March of 2009 I wrote my first article on this topic. At that time, not very many professionals or clients were aware of a tiny inclusion buried in the Tax Prevention and Reconciliation Act of 2005. Section 511 of this tax act will require Federal, State, and Local governments with total expenditures of $100 million or more to withhold 3% of a contract’s total payments for goods or services provided to the governmental body to guard against possible business tax evasion. This withholding provision originally was supposed to take effect on payments received on or after January 1, 2011, however, the American Recovery & Reinvestment Act of 2009 delayed the effective date until January 1, 2012.
Brandon Cook, CPA | Manager, Tax Services Group and Team Member of the Construction Services Group
Back in March of 2009 I wrote my first article on this topic. At that time, not very many professionals or clients were aware of a tiny inclusion buried in the Tax Prevention and Reconciliation Act of 2005. Section 511 of this tax act will require Federal, State, and Local governments with total expenditures of $100 million or more to withhold 3% of a contract’s total payments for goods or services provided to the governmental body to guard against possible business tax evasion. This withholding provision originally was supposed to take effect on payments received on or after January 1, 2011, however, the American Recovery & Reinvestment Act of 2009 delayed the effective date until January 1, 2012.