The Proactive Solutions Blog

The Benefits of R&D Tax Credits

Construction is not an industry that has historically been known for innovation, but times are changing. The advent of “green” building and new sustainability standards, along with advances in digital technology and connectivity, have created the impetus for innovation in everything from building materials to modeling and engineering techniques.

Read full post  |  Posted by on 07.12.16

Nonprofit Standard Newsletter - Summer 2016

Philanthropic donations reached a record-high of $373.25 billion in 2015, according to Giving USA's latest report. As the sector expands, so do the hurdles and complexities nonprofit organizations face in achieving their missions. Read the latest issue of BDO's Nonprofit Standard Newsletter for comprehensive insights on new regulations and current trends in the sector. In this issue, we discuss tips on enhancing nonprofit cybersecurity and review pending tax legislation designed to protect the charitable deduction.

Read full post  |  Posted by on 07.07.16

Barbara Hahn, CPA Named Director, Tax Services

Weber O'Brien is very pleased to announce the promotion of Barbara Hahn, CPA to Director, Tax Services. Barbara works with entrepreneurial companies specializing in manufacturing and construction.

Barbara graduated from Spring Arbor University with a Bachelor of Arts, Accounting degree. Barbara is a Certified Public Accountant. 

Read full post  |  Posted by on 07.06.16

Form 5500 Due Date Is Approaching

August 1, 2016, is the deadline for filing Form 5500 for retirement or employee benefit plans on a calendar year. (The usual due date of July 31, 2016, is a Sunday.) 

Read full post  |  Posted by Steven M. Weber on 07.06.16

Internal Controls

Each year many business owners discover that their assets are not as well protected as they thought when they become victims to employee theft.  This is particularly true in small-business environments where a single employee manages all the finances.  Often, there are no “checks and balances” to verify the transactions are accurate.  Most employee thefts are perpetrated by highly trusted employees in key positions, involving substantial sums of money.

Read full post  |  Posted by on 06.30.16

Nonprofit Tax Legislation Addresses Donor Privacy and the Charitable Deduction

While a slim summer schedule has the House and Senate on extended recesses through much of July and August, legislators continue to introduce and vote on bills addressing noteworthy concerns in the nonprofit industry, with consequences both long and short-term.

Read full post  |  Posted by on 06.30.16

Make Time For Midyear Tax Planning

One benefit of midyear tax planning is that you have a solid foundation for making decisions and enough time to implement them.

Read full post  |  Posted by Steven M. Weber on 06.20.16

HSA Contribution Limits Barely Budge for 2017

The IRS recently announced the inflation-adjusted contribution limits for health savings accounts (HSAs) for 2017. HSAs combine high-deductible health insurance plans with a medical savings account.

Read full post  |  Posted by Steven M. Weber on 06.15.16

Renting Out Your Vacation Home

We are often asked “What are tax consequences of renting out our vacation home for part of the year?”

The tax treatment depends on how many days it's rented and your level of personal use. Personal use includes vacation use by your relatives (even if you charge them market rate rent) and use by nonrelatives if a market rate rent is not charged.

Read full post  |  Posted by James F. Weber on 06.02.16

Construction Fraud

Construction fraud: if something on the job smells funny, it probably stinks: six ways to freshen the air 

“Fraud is alive and well within the construction industry and permeates virtually all levels of construction activity for both domestic and international projects.”

The Association of Certified Fraud Examiners didn’t mince words when this was published in 2012. That’s not what you call good news if you’re a construction company owner or the person financially at risk on a construction project. In the past four years, nothing has changed.

Read full post  |  Posted by on 06.02.16

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