The Proactive Solutions Blog

Business Advisory Blogs

ACA and Employers: How Seasonal Workers Affect Your ALE Status

When determining if your organization is an applicable large employer, you must measure your workforce by counting all your employees.  However, there is an exception for seasonal workers.

Read full post  |  Posted by on 07.21.16

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

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

Prepaid debit cards offer benefits and drawbacks

Prepaid debit cards, also known as stored-value cards, can be useful when you lack a traditional checking account. In an increasingly plastic-dependent world, these cards can be substituted for cash, and you can use them to pay for airline tickets, hotel stays, electronics, and groceries. Money is transferred, or “loaded,” to the card and is yours to spend until the card runs out of funds or is reloaded. Read more.

Read full post  |  Posted by James F. Weber on 05.31.16

Financial tips to follow when a spouse dies

The death of a spouse is emotionally and financially devastating. Making decisions of any kind is difficult when you're vulnerable and grieving, but having a plan to follow may help. Here are suggestions for dealing with financial tasks. Read more.

Read full post  |  Posted by James F. Weber on 05.31.16

How Employee Expenses Are Deducted

Questions on how to claim deductions for expenses you incur in connection with your employment? The expense include those for local transportation (other than commuting), business meals and entertainment (at 50% of cost), travel away from home, supplies, educations, etc.

Read full post  |  Posted by on 05.26.16

Luxury auto depreciation limits announced for 2016

The IRS recently issued the depreciation limits for business vehicles you buy and place into service this year. 

Read full post  |  Posted by on 05.18.16

What Is “Enough” For Retirement

When it comes to money and retirement, it differs for each of us when considering what “enough” will look like. For some, a universal definition might be having roughly the same amount of money available per month as they currently do after adding in their social security benefits. Due to many unknowns, experts predict that one cannot completely rely on the availability of social security benefits once reaching retirement age.

Read full post  |  Posted by James F. Weber on 04.28.16

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