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Tuesday, 17 July 2018

Market Outlook -- July 2018

Written by The Rehmann Team

Economy Heading into the third quarter of 2018, the U.S. economy remains strong with real GDP growth running towards 3 percent for 2018. Improvements within the labor market and firming inflation within the target range set by the Federal Reserve have emerged...

Wednesday, 26 July 2017

The Cost of Sticking With QuickBooks

Written by The Rehmann Team

Even with a growing healthcare practice, budgets are tight. It’s difficult to justify the cash or time to deploy more modern business management technology. However, the cost of sticking with QuickBooks easily outweighs the alternative. A side-by-side comparison of the full costs and productivity implications associated with QuickBooks vs...

Wednesday, 11 July 2018

Risk Report -- July 2018

Written by Bill Kowalski

Locals fuel gambling habits with embezzlement Macomb Township, Michigan: A former Dakota High School Spanish teacher pled no contest to embezzlement and has been ordered to repay $30,000 to the Chippewa Valley School District for stealing from homecoming dance sales. The teacher was a student activity coordinator and oversaw ticket sales for the homecoming dance and other activities. The homecoming ticket sales should have brought in about $30,000, but she deposited only $11,000 into the school account. A school trip to Camp Tamarack should have brought in $13,000 in ticket sales, but she deposited only about $500...

Tuesday, 10 July 2018

Security best practice

Written by Trivalent Group

Password security Your computer password is your best defense against damaging intrusions. Without a well-chosen password or set of passwords, any other security measures protecting your data are greatly weakened. Never share your passwords with anyone. The most frequent password mistakes made include choosing an obvious password or writing down the password near your computer...

Question: Our company offers a high-deductible health plan and allows employees in that plan to make pretax contributions to a Health Savings Account (HSA). Some of our employees are approaching age 65 and will soon become eligible for age-based Medicare Part A. Are they required to stop contributing to an HSA when they reach age 65? Answer: Not necessarily...

Monday, 02 July 2018

IRS proposes expanded mandatory electronic filing of info returns

Written by Thomson Reuters

Earlier this year, the IRS released proposed regulations that would significantly expand mandatory electronic filing of most information returns. Let’s look at some details. Background and proposal Filers required to file 250 or more information returns during a single calendar year must file electronically but, under current regulations, the 250-return threshold applies separately to each type of information return. For example, if an employer files 200 Forms W-2 and 100 Forms 1095-C during 2018, the employer isn’t required to file either form electronically because, considered separately, neither form crosses the 250-return threshold...

Monday, 02 July 2018

Wellness programs: A broader perspective is taking root

Written by Thomson Reuters

It seems intuitive that the healthier your employees are, the more productive they’ll be — which should lower your health benefit plan costs. That’s the premise of employer-sponsored wellness programs. The Affordable Care Act gave its blessings to such initiatives by sanctioning the use of financial incentives to maximize employee participation. Unfortunately, traditional wellness programs often come up short when the numbers are crunched...

The IRS has released a draft version of the 2018 Form 1040 which is intended to simplify the filing process for some Americans, but many are stating that the new post-card sized form is no less complicated. The new form reduces the number of line items from 79 to 23 and condenses it from a two-page document to a double-sided post card. There are also six schedules accompanying Form 1040 that, if applicable, will be used to report additional income, credits, taxes and other deductions that have been eliminated from the Form 1040. While the form is simplified in some areas and will result in simplifying tax filing for a significant number of taxpayers, others will still have to refer to other forms and instructions and crunch numbers to complete the filing process, which may be time consuming...

In a 5-4 decision on June 21, the U.S. Supreme Court in South Dakota v. Wayfair, Inc...

Thursday, 14 June 2018

Investing to save time boosts happiness returns

Written by Forefield, Inc.

The more money you make, the more valuable you perceive your time to be — and the more time-strapped you may feel, according to the University of British Columbia psychology professor Elizabeth Dunn.1 So wouldn't it stand to reason that if you use some of your hard-earned money to buy yourself more time — for example, by paying someone to clean your house or mow your lawn — you might achieve a greater level of happiness? Indeed, that was the primary finding in a series of studies by Professor Dunn and other researchers published in the Proceedings of the National Academy of Sciences (PNAS).2 The discovery The study's authors surveyed 6,000 individuals at diverse income levels in multiple countries, including the United States, Canada, the Netherlands, and Denmark...

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