Comments for Schlabig Certified Public Accountants Blog

Comment on AVOIDING A TAX AUDIT by Is a Home Equity Line Of Credit Tax Deductible? » Home Equity Loans from Bank of America

Thu, 19 Jan 2012 07:43:35 +0000

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Comment on Are you eligible to claim a home-office deduction? by Bob Taussig

Bob Taussig — Sat, 07 Jan 2012 00:36:34 +0000

Les,
I was impressed with your blog about First Energy rebates and EPAct tax deduction.
Bob Taussig

Comment on Health Care Reform: New W-2 Form Reporting Requirements by Mary Lopez

Mary Lopez — Thu, 15 Sep 2011 06:38:36 +0000

Thanks for the post and the video!! It really helped!!

Comment on CORPORATE OWNED LIFE INSURANCE by Dennis Wales

Dennis Wales — Fri, 12 Aug 2011 19:49:11 +0000

$9,000,000 TERM Policy issued in October, 2005, (before 8/17/06 rule change) on life of Chairman. Corporation pays 100% of premium.
Chairman wishes to have beneficiary designation changed from 100% to corporation to being split between corporation & his spouse. Corporation would continue to pay 100% pf premium.
What are the tax implications to the employee and the corporation if the beneficiary designation is changed in this way?
Would the taxation rules for group life insurance in excess of $50,000 apply to the Chairman?

Comment on Are you in the clouds? by Kelly Nizzer Bates

Kelly Nizzer Bates — Tue, 15 Feb 2011 18:50:43 +0000

Also, our hosted provider handles our data backup. This data is mirrored in two locations.

Comment on Are you in the clouds? by Kelly Nizzer Bates

Kelly Nizzer Bates — Tue, 15 Feb 2011 18:12:10 +0000

Great questions. Of course internet access is paramount to the success of a hosted environment. To ensure 24/7 connectivity we have redunancy in place. Our primary access is via T1 with high-end DSL as secondary access (different vendor). Fail over has been tried and tested so we don’t skip a beat.

Comment on Are you in the clouds? by Jesse

Jesse — Tue, 15 Feb 2011 17:37:34 +0000

Do you ever run into instances where you’re unable to access your data due to lack of internet access? Are there local backups available in case of a sustained outage either locally or by your hosting provider?

Comment on Technology evolves as the IRS continues its paperless quest by Sharon

Sharon — Wed, 20 Oct 2010 14:00:43 +0000

Correct Drew, payroll companies have been enrolled in EFTPS as agents and make their clients’ payroll payments electronically. Companies that have to make income tax payments will still have to abandon the coupons and sign up with the electronic program.

Comment on Small Business Jobs Act benefits more than just small businesses by Drew

Drew — Wed, 20 Oct 2010 13:06:47 +0000

Would real estate purchases be eligible for the bonus depreciation opportunity?

Comment on Technology evolves as the IRS continues its paperless quest by Drew

Drew — Wed, 20 Oct 2010 13:04:36 +0000

I assume this is not of concern for companies that use a payroll processing house such as Paychex?