Images:  CEO’s Duty of Care

 

The spoils of record keeping

The law: a three-letter word representing mandatory actions sanctioned by one’s government; federal, state, and local entities that “make the rules”. The funny thing about the law is that it isn’t; you mess with the law and you get burned. The Internal Revenue Service (IRS) requires that all businesses prepare and retain a set of records that can be audited at any appropriate time. The federal government doesn’t run on charity; who do you think pays for all the highways, public servants, military expenses, Social Security, Medicare, etc? The federal government has to get their cut in order to function, and it only makes sense that it should get it from its inhabitants. You see, life is a never-ending cycle. You make money from the community; you give back to the community, it’s that simple. People commit tax evasion, tax fraud, money laundering, and embezzlement because they don’t want to give back to the community. There’s a saying: You can’t have your cake and eat it too. Record keeping is simply a method of following the rules. That individual or set of individuals has to have the intestinal fortitude to keep their hands in their own pockets while skipping as far as the rule maker tells them to.


Images:   Forbes, St. Paul North Area Rookies

Maximizing tax benefits and minimizing negative impacts of tax law are what tax season is all about. Every year, millions of business entities and individuals undergo this process before their respective deadlines in order to satisfy the compensatory needs of their federal government, qualifying each other’s position in their love/hate relationship while keeping each other afloat. Below are new changes being implemented for both businesses and individuals alike for the 2017 tax filing/2016 tax return season.

 

New dates for Business returns?

In 2015, Congress passed a short-term highway funding extension bill which set new due dates for partnership and C corporation tax returns. The H. R. 3236 Act instructs the IRS to allow a maximum extension of six months for the U.S. Return of Partnership Income filing documents (Form 1065), as well as allowing a similar extension to fiscal year U.S. Corporation Tax Return filing documents (Form 1120). Calendar year C corporations are allotted only a five-month extension; corporations with a June 30 year end will get a seven-month extension, both until 2026.


Technology constantly improving theses days that it seems like it all happens in the blink of an eye. It can range from software we use to everyday devices. This article feature three gadgets that will enhance your business.

1) Microsoft Surface Pro 4

The Surface Pro 4 is a light, attractive touchscreen tablet that also can function as a laptop with a keyboard accessory. This tablet is capable of running every piece of Windows software from Windows 7 forward.

So if you are a Web Designer, Accountant, Realtor, Car Dealer, Physician and etc., you can take your traditional apps/software that have been linked to your office PC and now bring them out to your clients. The tablet also comes equipped with a Surface Pen stylus which can be use for note-taking alongside your traditionally apps/software.

According to businessinsider.com,  “Microsoft announced that Berkshire Hathaway Automotive, the car dealership arm of Warren Buffett's legendary corporate holding company, has already ordered Surface Pro 4 tablets for their employees— and 12 other companies, including USI Insurance and the Land O' Lakes dairy giant, have done the same.”

Look out for the Surface Pro 5 because speculations of a release date have been spreading around the internet since the Surface Pro 4 model was launched onto retail stores. Again, this just a "rumors", as none of those reported sources are trustworthy.

For more information please visit: www.microsoft.com