What You Need to Know About the Affordable Care Act – Premium Tax Credit
If you or anyone in your family purchased coverage through the Marketplace, a Form 1095-A will be submitted which provides information about the coverage. This form will report the total monthly health insurance premiums paid to the insurance company you selected through the marketplace. It will also list the amount of premium assistance you received […]
Final Tangible Assets and Repairs IRS Tax Laws for 2014
Over the last two years, the IRS has finalized two new sets of regulations specifically addressing the proper tax recording of tangible property; and how to address the disposal of tangible and other capitalized property. These new regulations apply if you own buildings, fixed assets, and/or use and consume materials and supplies in your business. […]
Tax Minimizaton Strategies for Year-End
Written By: Scott Lewis, CPA As we enter the early part of 2015, our thoughts drift to the phenomenon known as tax return time. Here are some actions that can be taken to help minimize the tax burden on your dealership(s) for 2014: Accounts receivable: Review all your trade and factory receivables, including warranties and […]