News & Resources
19.10.2010
Applications and Software, Apps, Personal Finance
This posting is the first in a line of posts dedicated to useful applications available through iTunes or other online application stores for use on your mobile devices or on the computer. Look for future posts flagged under the “Apps” category at LMGW.com!
This week’s App:
Mint.com
Mint.com is an online website that will aggregate various account information you have in order to put together a complete financial picture for you. After registering for a free account with mint.com, you will need to follow a simple setup process to register all of your financial accounts with mint.com. The vast majority of these require your online login and password that your normally use to access your accounts. You can supply mint.com with your checking and savings accounts, credit card accounts, auto loans, investment accounts, and other items. After you have registered, you can donwload and install the mint.com app on your mobile device. Now with the touch of a button you can easily access your account balances, receive notifications of expenses and withdrawals over your pre-defined limits, low balance alerts, and multiple other items all in one place! For those of you with accounts at several different institutions and who are looking for real-time data on their account balances, mint.com is a great (and free!) solution.
Of course mint.com does not take the place of normal financial housekeeping duties like budgeting, account reconciliations, and so forth. We always recommend you continue these best practices in order to stay on top of your spending and investment habits, but mint.com can be an added tool to keep you more aware of where you stand at any one moment.
04.10.2010
News
PR Log, October 13, 2009 (Click here to read the original article)
The “Best Accounting Firms to Work For” survey and award program was designed to identify, recognize and honor the best places of employment in the accounting industry, benefiting the nation’s economy, its workforce and businesses.
Read more
30.09.2010
News, Services, Tax
On September 27, 2010 the President signed into law the Small Business Jobs Act of 2010. The act includes a few new incentives for both individuals and small businesses. We have outlined some of the more interesting provisions below:
Health Insurance Costs deductible in computing Self-employment Tax – Under prior law, health insurance premiums paid on behalf of a self-employed person and their family was deductible as an above-the-line deduction in computing taxable income, but was not allowed as a deduction against the self-employment tax. Under the new law, Individuals may now deduct the cost of health insurance premiums for themselves, their spouse, and their dependents up to age 26 as a trade or business expense for purposes of computing both income tax and the self-employment tax. There are still certain restrictions, such as the prohibition of the deduction for any month the taxpayer is eligible to participate in a subsidized health plan maintained by their spouse’s employer, and the limitation of the deduction to earned income for the year.
Read more
16.09.2010
Nonprofit, Services, Tax
You can help your favorite local charities or non-profit organizations by telling them about a new law that may affect their exemption from paying federal income taxes.
A few years ago, Congress passed a law requiring all tax-exempt organizations, even the smallest ones, to file an annual return with the Internal Revenue Service. Previsouly any organization with gross receipts less than $25,000 per year was exempt from any filing requirement. Any organization that does not file for three consecutive years automatically loses its federal tax exemption. Churches and some church-related organizations are among the few exceptions.
The first three-year deadline for filing those returns was May 17, 2010. While thousands of organizations did file, a significant number did not. Read more
07.09.2010
News, Services, Tax
Under the Hiring Incentives to Restore Employment (HIRE) Act, two new tax incentives have recently come into effect to help businesses hire new employees. The first incentive is the payroll tax exemption. Employers will not have to pay their 6.2% share of social security tax on wages paid to qualifyied employees from March 19, 2010 to December 31, 2010. A qualified employee is an individual hired after February 3, 2010 and before January 1, 2011 who was unemployed or employed for 40 hours or less during the 60 day period prior to their hire. The employee generally will not qualify for the credit if they are replacing another employee that was terminated without cause or if they are related to the employer. Read more
