Are you willing to risk I.T.?

Dopkins — Fri, 10 Feb 2012 00:13:49 +0100

Considering:

Most businesses rely heavily information technology (computers, Internet, databases, etc.) to operate effectively on a daily basis. Use of technology has grown by increments over time, often with little or no oversight or planning. Today, the sheer power of information technology, and the knowledge and skill of many users me...

Revised Guidance on Health Insurance Reporting for Employers

Dopkins — Thu, 26 Jan 2012 18:47:43 +0100

The IRS has provided modified guidance on the information reporting requirement for employer-sponsored health insurance coverage contained in the 2010 Patient Protection and Affordable Care Act (“Healthcare Reform Act”). Click here to read more.

Achieving Results … People to People

Dopkins — Wed, 18 Jan 2012 00:14:06 +0100

We trust that this phrase is familiar to you. But what does it mean and how do we accomplish it? More than a tagline, we are defined by our mantra, believing that everything we are and everything we do is centered on people: the ones who comprise our team and the ones we serve (with a nod to Mitt that, “corporations, whether for profit or not-for-profit, are people.”)

2011 Year-End Tax Planning for Businesses

Dopkins — Fri, 11 Nov 2011 01:31:16 +0100

Business taxpayers, like all taxpayers this year, are confronted with uncertainty in year-end tax planning as 2011 ends. A number of business tax incentives are scheduled to expire after December 31, 2011 unless extended by Congress. These incentiv...

IRS Announces Settlement Offer on Workers Misclassified as Independent Contractors

Dopkins — Mon, 10 Oct 2011 21:54:44 +0100

The IRS has announced a new initiative for employers, known as the Voluntary Worker Classification Settlement Program. The program allows employers who have misclassified workers as "independent contractors" rather than "employees" to reclassify the workers. The employers would...

Planning for Tax Breaks Slated to Expire This Year

Dopkins — Tue, 27 Sep 2011 21:13:43 +0100

Small business owners currently face many uncertainties regarding present and future economic conditions. While certain soon-to-expire tax provisions may be extended for another year or so in an effort to kick start the economy, there is no guarantee that will be the case. Prudent business planning entails taking advantage ...

Some details about the Budget Control Act

Dopkins — Mon, 29 Aug 2011 21:46:54 +0100

On August 2, 2011, President Obama signed the Budget Control Act of 2011 (P.L. 112-25). The Budget Control Act cuts approximately $1 trillion in federal spending, raises the federal debt ceiling and creates a bipartisan joint committee of Congress to weigh additional deficit reduction measures. Click here for more about the joint com...

Looking for a refund on your airline tickets during the FAA partial shutdown? The IRS says no

Dopkins — Tue, 09 Aug 2011 20:16:53 +0100

Despite what was originally reported, airline fliers expecting a federal ticket-tax refund for flights they flew on during the Federal Aviation Administration's partial shutdown the past two weeks are out of luck.

The IRS said last week that no fliers who flew during the partial shutdown, which began July 23, are eligible for refunds. Earl...

Finding Lost Money — Sound Too Good to Be True?

Dopkins — Tue, 26 Jul 2011 21:44:13 +0100

Well, this time it is true, or at least might be.

There are $11 billion (that’s billion with a b) in New York State’s Unclaimed Funds accounts with more than 26 million account records still unclaimed. Unclaimed funds are money or the rights to money th...

IRS Increases Business Standard Mileage Rate

Dopkins — Tue, 12 Jul 2011 22:03:25 +0100

Generally, taxpayers can use their actual expenses when calculating the deductible cost of operating an automobile for business, medical, moving expense, or charitable purposes, or they can utilize an optional standard mileage rate set by the IRS. The IRS has recently revised the optional standard mileage rates used for comp...

Thinking of tapping your IRA for a short term loan?

Dopkins — Thu, 30 Jun 2011 20:56:45 +0100

The IRS has recently issued a private ruling which highlights the dangers inherent in using Individual Retirement Account (IRA) funds as a temporary cash source — whether for personal or business purposes. Read more

New York Employers: Are You Compliant with the Wage Theft Prevention Act?

Dopkins — Thu, 02 Jun 2011 20:54:46 +0100

In effect since April 2011, the Wage Theft Prevention Act applies to all private sector employers with employees in New York State. It modifies the Labor Law § 195 by expanding new hire notification requirements, adding annual notification requirements for all employees, revising the information required to be included on ...

Does Your Business Have “NEXUS” Issues?

Dopkins — Thu, 26 May 2011 20:03:12 +0100

A business that sells to customers in many states may be exposed to a variety of multistate tax issues. “Nexus” is a concept that is increasingly becoming a hot-button is...

Medical Practices – Is Your Compliance Plan Up-to-date?

Dopkins — Thu, 05 May 2011 20:58:00 +0100

If the OIG walked into your practice today, how confident would you be with your practice’s documentation compliance? Part of the OIG work plan for 2011 includes reviewing Evaluation and Management services for coding trends. Do you know your practice’s coding tr...

Congress Approves Repeal of Expanded 1099 Reporting

Dopkins — Thu, 14 Apr 2011 23:39:19 +0100

You may recall that Form 1099 reporting requirements were expanded as part of the Health Care Reform Act. Well, as of last Tuesday, business owners and management can begin to breathe easier ...

Benefit Plan Changes for 2011

Dopkins — Wed, 30 Mar 2011 19:20:41 +0100

Federal legislation over the past few years has brought about additional tax law revisions relating to retirement and other benefit plans that go into effect for 2011. Click here for highlights of some of the lesser known provisions.

Employee Fraud, Are You at Risk?

Dopkins — Tue, 15 Mar 2011 20:01:53 +0100

The typical organization loses, on average, 5% of its annual revenues to fraud. Applying this percentage to the 2009 estimated Gross World Product, that would result in a projected total global fraud loss of more than $2.9 trillion. Follow this link to The Association of Certified Fraud Examiners 2010 Report to the Nation on Occupatio...

Blog entries