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Congratulations to Missy Kotzer and Jackie Traut on recently becoming QuickBooks Advanced ProAdvisors! The QuickBooks Advanced Certification Course is designed to deepen the expertise of ProAdvisors who are already knowledgeable in QuickBooks, and distinguish these experts as highly proficient in the field.
To ensure the foundational knowledge and experience of ProAdvisors who... |
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Schlenner Wenner & Co. will be hosting the St. Cloud Area Chamber Business After Hours event Thursday, September 22, 2011. We need to book years in advance due to it's availability, so make sure you mark your calendars!
Each month a different member business hots an on-site evening of networking, t... |
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Welcome to this month's edition of the Tax and Business Alert. Our goal is to provide you with current articles on various tax and business topics. The articles are intended to keep you up to date on trends and issues that may impact your business and personal financial affairs. Pl... |
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Congratulations to Ryan Finberg from our St. Cloud office who was recently informed that he passed the CPA e... |
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Worker Classification Issues
One of the most common areas of contention between the IRS and businesses is the issue of worker classification. If a worker is an employee, the business is responsible for payroll taxes and fringe benefits. However, if the worker is an independent contractor, the business is generally... |
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Deducting Business Bad Debts
If debt collection is a problem for your business, deducting uncollectible (bad) debts from your tax bill may somewhat lessen the sting of simply writing them off. Here is some basic information on deducting business bad debts.
First, the debt must be legitimate. A bona fide debt ar... |
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A congratulation to Mike Grage on his upcoming completion of his Master’s of Business Taxation from the University of Minnesota. His last final is not yet set in stone, but by the end of June he will officially gradu... |
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RSM McGladrey, together with assurance partner firm McGladrey & Pullen, announced today that the two firms will now go to market under the "McGladrey" brand. Above is their new logo (and colors) that will be incorporated into our Firm, starting in July. Combined, the McGladrey firms rank as the fifth-lar... |
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Dear Clients and Friends
Red Flag Rule Update
Last month, we discussed the Red Flag Rule. The Federal Trade Commission (FTC) wanted businesses and organizations to implement a written identity prevention program designed to detect the warning signs or “Red Flags” of identity theft in their day to day operations. This pro... |
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Health Insurance Tax Credit
The Patient Protection and Affordable Care Act (Health Care Act) provides a new beneficial tax credit for small employers. For tax years beginning in 2010 through 2013, this legislation provides the small employer health insurance credit for qualified small employers that purchase health insurance for their employ... |
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Dear Clients & Friends:
New 7 Day Safe Harbor for Small Employer Plans Depositing Employee Contributions
The Department of Labor has issued a safe harbor time period for small employer plans depositing employee contributions and loan repayments to employee benefit plans. A small employer plan is a plan that covers fewer than... |
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Gary was born in Victoria and grew up in Chaska, Minnesota. Back then, Chaska was just a small country town but since has grown into a suburb of the Twin Cities. He graduated from Chaska High School and was drafted while attending the Minnesota School of Business but chos... |
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The PGA TOUR and RSM McGladrey recently announced a three-year title sponsorship agreement that will bring a new PGA TOUR event to renowned Sea Island Resort on the southern coast of Georgia beginning in 2010. The McGladrey Classic will feature a 132-player field. Love and Johnson, both major championship winners... |
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Charitable Donations of Devalued Real Estate
Some taxpayers have seen the value of their investment real estate decline precipitously during the recent economic downturn. In response, they may have abandoned the idea of making money on their investment and are looking for a way out. Making a charitable gift of... |
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Taxation of Long-term Care Insurance Proceeds
A qualified long-term care insurance contract is generally treated as an accident and health insurance contract for income tax purposes. Amounts received under a qualified long-term care insurance contract (other than policyholder dividends or premium refunds) may be excludable from income as amounts received... |
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