GBQ

Entrepreneurial Spirit. Independent expertise.

GBQueue

Accounting and financial news
from the front lines

Are you meeting the ACA’s additional Medicare tax withholding requirements?

by Associate

Under the Affordable Care Act (ACA), beginning in 2013, taxpayers with FICA wages over $200,000 per year ($250,000 for joint filers and $125,000 for married filing separately) had to pay an additional 0.9% Medicare tax on the excess earnings. Unlike regular Medicare taxes, the additional Medicare tax doesn’t include a corresponding employer portion. But employers […]

Posted in Audit & Tax Talk | Comments »

Time for an estate plan checkup

by Associate

Now that we’re in the new year, it’s time for an estate plan checkup. Why? First, various exclusion, exemption and deduction amounts are adjusted for inflation and can change from year to year, so it’s a good idea to see if they warrant any updates to your estate plan: 2013 2014 Lifetime gift and estate […]

Posted in Audit & Tax Talk | Comments »

Will Congress revive expired tax breaks?

by Associate

Many valuable tax breaks expired at the end of 2013. But Congress probably will revive at least some of them, likely retroactively to Jan. 1, 2014. The question is exactly which breaks they’ll extend and when they’ll pass the necessary legislation to do so. Here are several that may benefit you or your business if […]

Posted in Audit & Tax Talk | Comments »

JPMorgan pays $2.6 billion in Madoff settlements

by Ed Bannen

I read this article today and as an auditor, I am disappointed in the actions of JPMorgan but not surprised. As with audit client relationships, banking client relationships are complex by nature. Banks are required to regulate and monitor the very people who are paying them, similar to the auditor’s relationship with our clients. There […]

Posted in Audit & Tax Talk | Comments »

Tags