Blog
Dave Camp Tax Reform Proposal Update
The Dave Camp Tax Reform proposal includes several significant changes to the current Internal Revenue Code (IRC). Proposed changes to the IRC are a long way from becoming law, but taxpayers, both individual and business need to be aware of the discussion so they...
AFR Schedules
Below is a link to the Nichols Accounting Applicable Federal Rates (AFR) table for the current month. The AFRs are published by the IRS for the purposes of testing imputed interest for below-market interest loans and debt-for-property transactions. If your facts...
Couple Finds $10 Million in Gold Coins; Taxes Take Half
An anonymous couple in California’s “gold country”—named after the 1849 Gold Rush—found $10 million in rare gold coins buried in cans on their property. Why stay anonymous? They don’t want people digging on their property. After all, this is the biggest and best...
What Triggers a Sales and Use Tax Audit?
Being the subject of a sales and use tax audit is a fact of life for many large corporate taxpayers. For other taxpayers, an audit comes as an unwelcome surprise. Predicting what makes a company more vulnerable to a sales and use tax audit can prove to be a...
Short-term ACA Relief Now Available for Midsize and Large Employers
Recently released IRS final regulations for the Affordable Care Act’s (ACA’s) employer shared-responsibility provision provide some short-term relief for midsize and large employers. Under the ACA, the shared-responsibility provision (commonly referred to as...
Detail as the Common Denominator
Staff Spotlight Interview | Doni Richardson By: Jennifer Deroin Many years of Doni Richardson’s career was spent in the manufacturing industry where details matter. Processes, consistency, quality and delivery are terms frequently used in manufacturing, and...
Top 5 Reasons for Year-End Planning
By: Michael Flerchinger, The Nichols Accounting Group Red Angus, December 2013 Benjamin Franklin once said the only two things certain in life are death and taxes. Doing year-end tax planning won’t save your life, but it’ll surely help you defer a portion of your...
Getting Serious About Forgotten Resolutions
By: Jennifer Deroin, The Nichols Accounting Group Red Angus, February 2014 Edition New Years Resolutions. Most people make them with good intentions, and then life happens. Goal setting and follow-through is a discipline and a commitment. It’s February; how are...
You and Your Business Deserve This
By: Jennifer Deroin, The Nichols Accounting Group Red Angus, January 2014 Edition Every entrepreneur faces the same conundrum; falling into the trap of working in your business. That may seem like an erroneous statement, but it’s a true statement. Whether you’re...