By Alicia Rader, CPA, Manager | Tim Ayler, CPA, Partner
Team Members of the Construction Services Group
What comes to mind when you hear the word “lean”? Is it a fit person or a certain cut of beef? What about when you hear the words “lean construction”? The lean production concept has flourished in the manufacturing industry for years, but has been severely under-utilized by contractors despite evidence that implementation will improve the entire construction process for both the contractor and the consumer. This article will highlight the potential benefits of implementing lean construction concepts and how to begin thinking and operating lean.
by Brandon Cook, CPA | Partner, Tax Services Group and Jim Wagoner, CPA | Partner, Director of Tax Services
As most of you may have heard, President Obama released his 2014 federal budget proposal earlier this month. The $3.77 trillion budget covers all areas of federal government revenue and spending, but as you might suspect, corporate and personal income tax items are one of the more prevalent points of discussion included in the budget. While it’s way too early to know which of the following aspects will ever make it into the tax code, it’s not too early to begin preliminary brainstorming and planning. Throughout the rest of 2013, you can expect to hear these tax topics discussed in the media as Congress wrestles with the best course of action to solve our national deficit problem and operate government sponsored programs effectively. Many of these ideas/topics are not new, but may get more attention than they have in the past.
The U.S. Citizenship and Immigration Services has released a new employment eligibility form which must be used in all employment registrations occurring on or after May 7, 2013. Please click here to get a printable copy of the new form.
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by Jeff Curiel, CPA and Amanda Meko, CPA | Team Members of the Not-for-Profit Services Group
The 990 provides not-for-profit organizations with a tremendous opportunity to tell their story as the form is required to be made available to the public. While many organizations make the form available on their website, GuideStar.org publishes the last three years of the form for most organizations. Taking the time to properly understand the form’s requirements and pending changes can help your organization present itself favorably and accurately and avoid some of those tax reporting headaches down the road.
Please join us on May 2, 2013 at Greenwalt CPAs Education Center for a 2 hour seminar which will address the actions that your organization needs to take in 2013, and what you need to be aware of going forward. The rules,
costs, and options associated with the Health Care Reform act are complicated and are not well understood. Wanza Schweiger, CEBS & Managing Partner of Benefit Innovations, LLP and Marie Jett, CPA, Senior Manager in our Tax Services Group will discuss the following topics:
· What must I be aware of now and going forward?
· What needs to happen by July 31, 2013?
· What will the costs be —
- Of health insurance?
- In additional taxes?
- For self-insured plans?
· How will Health Care reform affect the future of group health insurance plans?
· What are my options to best position my organization —
- To be able to minimize the cost to the organization
- To minimize the cost to our employees.
WHO SHOULD ATTEND?
· Personnel who handle employee benefit matters for their organization
· Owners/managers who are responsible for overseeing and approving critical organization decisions.
· Those who are concerned about the future of health care and where it is headed.
Our doors will open at 8:00 am on May 2 for coffee and light refreshments. The session will begin at 8:30 and we plan to be finished by 10:30 am.
To register, please click here.
or call Suzanne Haskamp at 317.260.4476. When you register, you will have an opportunity to list some of the key questions you would like to have addressed.
By Tim Ayler, CPA, Partner and Shaun King, Audit Senior | Members of the Construction Services Group
As the economy slowly begins to stabilize, so too is the construction industry. In turn, more contractors will be in demand for work. To help obtain this work, contractors across the state are relying on surety bonds. A surety bond is a guarantee from a surety to a project’s owner that a general contractor will adhere to the provisions of a contract.
By Felicia Rupp and Marie Jett, CPA | Members of the Tax Services Group
The IRS released guidance last week that it is extending the time employers who want to claim the work opportunity tax credit (WOTC) have to file Form 8850: Pre-Screening Notice and Certification Request for the Work Opportunity Credit.
by Heather Phillips, CPA and Amanda Meko, CPA | Team Members of the Not-for-Profit Services Group
With the start of March comes a change in time, warmer weather (hopefully!), and the time of year to do some spring cleaning. Annually in the state of Indiana, most business entities, including non-profits, are required to file personal property tax returns as of March 1st. This is also a good time of year to make sure you have a handle on your organization’s property.
By Felicia Rupp and Marie Jett, CPA | Members of the Tax Services Group
The Internal Revenue Service is alerting taxpayers of potential scammers that may be trying to take advantage of you during this tax season. These scammers are using the IRS name and logo to make an email appear authentic in an attempt to get you to provide your personal information. If you think you have received one of these emails:
· Do not reply to the message
· Do not open any attachments
· Do not click on any links or enter confidential information.
By Stacey L. Spencer, QKA | Manager, Employee Benefit Services
Have you had to reduce your workforce during 2012? If so, there may be repercussions that affect the retirement plan you sponsor. Your plan may have experienced a partial termination.
The IRS considers a partial termination to have occurred when an employer-initiated action results in a significant decrease in plan participation. Generally, the IRS presumes a partial termination has occurred when an employer experiences a workforce reduction of 20%.