For assets placed in service in tax years beginning on and after January 1, 2014, Wisconsin depreciation and Section 179 expense now conform to federal. There will no longer be a difference between federal and Wisconsin depreciation for new assets.   Read more >>>

Economic changes over the past few years have led to higher unemployment tax rates and increased wage caps. During these difficult times, it may be beneficial to consider the Wisconsin Election to Exclude Principal Officer Wages. This election allows you to exclude qualified corporate officers from “employment” under Wisconsin’s Unemployment Insurance Law. As a result, their wages are not subject to state unemployment insurance taxes.   Read more >>>

If your restaurant adds a service charge (or automatic gratuity) to larger groups of customers, you will now need to pay those service charges as regular wages instead of tips to your employees. The IRS issued regulations in mid-2012 regarding automatic gratuities but allowed restaurants until March 2014 to become compliant.     Read more >>>

Did you know your business can defer up to 60% of your Wisconsin first quarter unemployment tax liability to future quarters, if your tax liability is $1,000 or more? Deferring part of the first quarter unemployment tax contributions may be beneficial for employers who are struggling with cash flow issues or who wish to take advantage of an interest-free payment plan. However, to avoid assessment of interest on the deferred amount, you’ll need to comply with certain requirements.   Read more >>>

For a business owner, the most important financial transaction in life is probably a merger or acquisition. Even if you are not planning to sell or purchase a company in the near future, don’t wait until you reach that point to educate yourself about M&A. Understanding M&A objectives and techniques will help you build a better business that could ultimately be worth millions more on the market.   Read more >>>

The Treasury and IRS issued final regulations on the employer health insurance mandate on Monday, February 10, 2014, that provide relief for certain employers for 2015.   Read more >>>

Employers of all sizes need to understand the Premium Assistance Credit to make the best health coverage decisions for their organization and their employees. As an employee, it’s also important that you know what your options are.   Read more >>>

The Wisconsin Department of Revenue recently announced that the withholding tables and alternate methods of withholding have been revised.   Read more >>>

Did you make severance payments to terminated employees in recent years? If the terminations were part of a reduction in your workforce or because you discontinued a plant or an operation, you may soon be able to get a refund of your FICA taxes on those payments.   Read more >>>

Do you have an office in your home that is used for business purposes? The IRS now provides a simplified option that owners of home-based businesses and some home-based employees will be able to use when computing deductions for the business use of their homes. This option is available for the 2013 tax year as an alternative to calculating, allocating, and substantiating actual expenses.   Read more >>>