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Holland & Company CPA’s is proud to be a Sponsor of this year’s Naperville Ale Fest which is schedule to take place on Saturday July 20th in Naper Settlement. The Naperville Ale Fest is Naperville’s first Craft beer festival. It will feature 180 unique beers from brewers around the country. Visit their website for more…
DetailsDear Business Owner, If you are a QuickBooks user and your business is required to charge sales tax on items that you sell, the “How To” article below on setting up sales tax in QuickBooks software will help guide you through the process. To access the article please click on the download link below. Please…
DetailsDear Tax Payer, With the most recent spring flooding throughout the Midwest and other parts of the country, I thought it timely to include an article on the deductibility of casualty losses on your personal tax return, if applicable. Hopefully your basement was dry like mine, but in case you were not so lucky, the…
DetailsAs published in the Daily Herald on April 29, 2013 By Jim Kendall There are some small business — and small business owner — tax positives in 2013, but there also are some issues that make a conversation with your CPA, and maybe your estate attorney, a good idea. That’s the gist of post-April 15…
DetailsA new study by the nonpartisan Tax Policy Center (TPC) has found that many households would pay higher taxes under the President’s budget proposal, but that the lion’s share of the increased tax burden would fall on the wealthiest Americans—in particular, on the top 1% of earners. This article examines the specific proposals that would…
DetailsAlthough unemployment figures are slowly improving, it can still be extremely difficult, if not impossible, in the current job market for some college students and recent graduates to find seasonal or permanent jobs. As this article explains, in addition to the family business perhaps being a child’s only job option, employing a child may generate…
DetailsIn a recently released Information Letter, IRS has reaffirmed that no prohibition exists against a Code Sec. 501(c)(3) organization using an Internet fundraising platform to raise funds and that such wouldn’t impair its future qualification as a tax-exempt charity. IRS noted that website or e-mail solicitations should comply with the same rules that apply to…
DetailsDear Client: If you have a situation where you must include in income an amount you paid and deducted in a previous year and then recovered please review the following information for more details on how to handle the situation. This situation often arises in connection with state or local income tax refunds and medical…
DetailsEDITOR’S NOTE: Split dollar insurance is a useful tool for obtaining permanent life insurance (i.e., generally not term life) on the life of an owner or key employee at a cost that is shared jointly by both parties. The following provisions are designed to assist practitioners in drafting or reviewing a split dollar life insurance…
DetailsBelow you can download a guide created by the Department of Employment Security which contains Fast Facts for Employers (updated 2013).
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