Tag: business basics

The IRS to hire private collection agencies

Collection agencies

From 2006 through 2009, the IRS contracted with a number of private debt collection companies with very limited success.  In fact the IRS argued that it could be more efficient handling the work internally. In the recently passed Federal Highway Funding bill, Congress has restarted the use of private debt collection companies.  The private firms… Read more »

The IRS releases the mileage reimbursement rates for 2016

Mileage reimbursement rates

Just released from the IRS the 2016 mileage reimbursement rates, the optional standard mileage reimbursement will be $0.54 per mile in 2016, down from $0.575 per mile in 2015. Medical and moving reimbursement rates dropped by four cents in 2016 to $0.19 per mile.  Rates applicable for rendering gratuitous services to a charitable organization will… Read more »

Form 5500 Filing Dates

Form 5500

Benefit plans must annually file Form 5500 with the IRS by July 31 but they can extend that deadline.  The forms present the inflows and outflows from the plan as well as the fees paid and to whom.  The form presents a balance sheet for the benefit plan as shows who received benefit payments. There… Read more »

401(k) – Did Dave get it wrong?


As many know I am a former instructor in Financial Peace University, the Dave Ramsey Course that has led thousands to a better life through financial discipline.  The FPU program is often held by churches but has been customized for students, military and business audiences.  It teaches budgeting as a family, agreement on spending, planning… Read more »

Cash, We Help You Get It®

Cash flow issues have been a continuous challenge for businesses. The quote below is just as relevant today as it was in 2009. “Cash flow problems are common in business, and people often have a hard time figuring out what’s behind them. But there are actually just a few potential causes: You could have too… Read more »

The Ohio Biennial Budget Process is Underway

The Governor is tackling head on a problem that many business people believe hampers the Ohio business environment – municipal income tax administration. Ohio is one of only a handful of states that allow municipalities to assess income taxes upon those who work or live in their communities.  Many of the jurisdictions in Ohio participate… Read more »

CPAs Using Drones

I read an article yesterday in the CPA Insider by Sarah Ovaska-Few entitled “Drones set to invade accounting profession”.[1] My first thought was “yeah right.”  But the article talked about the use of drones in specialized fields such as mining and agriculture. Drones are already being used in the agriculture industry as a faster more… Read more »