Going for the Green 2012: You Can Make a Difference

Dopkins — Wed, 02 May 2012 23:02:48 +0100

Hard to believe, but Monday, June 4, 2012 is around the corner. Plans are set for the 22nd annual Going for the Green golf tournament at the reknown Brookfield Country Club.

As we have since the event's inception in 1991, Dopkins & Company, LLP is hosting the event to benefit Aspire of WNY, In...

Health Care Reform: What You Need to Know About the New Summary of Benefits and Coverage

Dopkins — Wed, 18 Apr 2012 21:01:15 +0100

The Affordable Care Act (more widely known as the “healthcare reform law”) requires group health care plans to provide plan participants with a Summary of Benefits and Coverage (“SBC”). Recently, the federal government has provided guidance to group plans and health insurance issuers as to how to meet the healthcare reform law’s SBC requirements.

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Financial Analysis is Important to Your Business

Dopkins — Thu, 12 Apr 2012 22:52:23 +0100

Many business owners and company managers have found that insight gained from their examination of company financial statements can be invaluable. Such insight can help businesses improve their profitability, cash flow, and value.

Inbox Full of Messages from the IRS?

Dopkins — Wed, 28 Mar 2012 23:38:25 +0100

The Internal Revenue Service receives thousands of reports each year from taxpayers who receive suspicious emails, phone calls, faxes or notices claiming to be from the IRS. Many of these scams fraudulently use the IRS name or logo as a lure to make the communication appear more authentic and enticing. The goal of these scams – know...

Our Achieving People

Dopkins — Mon, 19 Mar 2012 20:13:19 +0100

At Dopkins, we are passionate about our people—so much so that we made it one of our core values. One of the attributes of that commitment is that “we take personal responsibility for growing our knowledge and skills.” We congratulate Ellen Varecka, Josh Soto and Brian Zdrowak who received the CPC (Certified Professional Coder) certification for medical coding, passed all parts of the CPA exam and earned the CFP (Certified Financial Planner) designation, respectively.

Why would these ...

Middle Class Tax Relief and Job Creation Act of 2012

Dopkins — Thu, 01 Mar 2012 00:41:41 +0100

The Middle Class Tax Relief and Job Creation Act of 2012 (the “Act”) was signed into law on February 22, 2012. The legislation extends, through the end of 2012, the two percentage point payroll tax cut for employees and self-employed individuals that had been in place for 2011 and the first two months of 2012. 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

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