News & Articles
After a 41 year career, Bill Dangl spent the last two and a half years as the Accounting Services Director at EHTC, starting in September 2017. As a member of the Leadership Team within an EOS company, Bill always brought fresh ideas and thoughts on how to keep the firm moving forward. He spent time creating processes and procedures for the Accounting Services department, made many contributions to the firm’s marketing program and was someone the team looked to for advice.
Margie S. (Gerencer) Brown, CPA/MBA/CGMA was recently named a top Certified Public Accountant in Grand Rapids, MI by America Top 10. The list was compiled by an independent organization who uses referrals from the public to be a successful resource for local communities. The article stated the benefits of working with someone you are comfortable with, along with the importance of having a strong connection with your CPA. With Margie's extensive knowledge, mixed with her friendly personality, it is no wonder she was honored! Congratulations, Margie!
As we all know, tax law is often convoluted. To illustrate the complexity, the U.S. Tax Court recently ruled against what is clearly stated in an IRS publication designed to explain the law to citizens. In the new case, the Court stated that the one-rollover-a-year rule applies to all of an individual's IRAs rather than on an account-by-account basis. Here is an explanation of the controversial decision and the rules involved in transferring money from one IRA to another.
Who is listed as the beneficiary (or beneficiaries) on your insurance policies, retirement plans, and asset accounts? Divorce, remarriage, and other major life events might require you to change beneficiaries. Or you might have accidentally forgotten to designate all your beneficiaries from the get-go. Take time to review beneficiaries today. As three real-life "horror stories" demonstrate, mistakes and omissions can be disastrous.
You've installed anti-virus software to protect your business network and personal computer. You know the signs of phishing scams (including unfamiliar senders, poor grammar and misspelled words). And like most people who use the Internet today, you never open a suspicious e-mail or download files from a questionable website.
Starting this year, a provision in the Affordable Care Act generally imposes a penalty on individuals who fail to carry so-called minimum essential health insurance coverage. The requirement to carry such coverage is often called the individual mandate, and the penalty is the cost for failure to comply with the mandate. This article explains who owes the penalty, how the penalty is calculated (it's complicated!) and how an individual will be expected to pay it.
After years of listening to complaints from private firms and their auditors that certain accounting rules were too costly and complex, the Financial Accounting Standards Board (FASB) has finally taken action. On January 16, the FASB simplified one of the accounting rules private firms most loved to hate: FASB Accounting Standards Codification Topic 350, Intangibles - Goodwill and Other.