Monthly Archives: December 2015

QuickBooks Reminders Prevent Problems

How many calendars do you maintain? Many businesspeople have more than one. Maybe you use a web-based or desktop application like Google Calendar or Outlook for meetings, task deadlines, travel dates, etc. Your Customer Relationship Manager (CRM) might have another. Perhaps you still have a paper calendar as back-up. But where do you keep track…
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Retirement Contributions Limits Announced for 2016

25The Internal Revenue Service has announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2016. In general, the pension plan limitations will not change for 2016 because the increase in the cost-of-living index did not meet the statutory thresholds that trigger their adjustment. However, other limitations…
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Health Flexible Spending Arrangements in 2016

Eligible employees should begin planning now to take full advantage of their employer's health flexible spending arrangement (FSA) during 2016. FSAs provide employees a way to use tax-free dollars to pay medical expenses not covered by other health plans. Because eligible employees need to decide how much to contribute through payroll deductions before the plan…
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Take Retirement Plan Distributions by Dec. 31

Taxpayers born before July 1, 1945, generally must receive payments from their individual retirement arrangements (IRAs) and workplace retirement plans by Dec. 31. Known as required minimum distributions (RMDs), typically these distributions must be made by the end of the tax year, in this case, 2015. The required distribution rules apply to owners of traditional,…
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