How Taxes Impact Mortgage Interest By T. Blake King, CPA, MAcc, CVA, Partner, Director of Accounting After remaining at historic lows for many years, interest rates are on the rise. While the upward move still keeps most mortgages below 4%, many people are refinancing before rates go any higher. With this increased activity and the recent...
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Beware New IRS Phone Scam By Blake King, CPA, MAcc, CVA “Hello, this is Agent Smith with the IRS, ID number 74930. You owe delinquent taxes and must pay immediately. Give us your bank or credit card information or we will send you to jail.” If you get a phone call that sounds like this, hang...
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What Obama’s new bipartisan tax law means for physicians On December 18, 2015, President Obama signed the Protecting Americans from Tax Hikes (PATH) bill into law, a bipartisan agreement that extended many tax provisions either two or five years, and made several other provisions permanent. What does this mean? For the first time in many...
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Physician compensation models and expenses One of the most important decisions that a growing medical practice must make is how to compensate its providers. When a practice has only one provider, the compensation model is very simple. Revenue is received, expenses are paid, and any funds remaining are paid to the owner. However, when new...
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IRS updates retirement plan requirements for employers The IRS has been busy when it comes to the Employee Plans Compliance Resolution System (EPCRS). In March, it released Revenue Procedure 2015-27 that overhauled the correction process for overpayments. Then in early April, the IRS released Rev. Proc. 2015-28. Effective April 2, 2015 the document describes updated...
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NEWSFLASH: Tax Extender Update By Blake King, CPA, MAcc, CVA | December 19, 2014 As has become the trend over the last few years, Congress waited until the last minute to extend tax provisions for 2014. On December 16, the Tax Increase Prevention Act of 2014 (TIPA) was passed and is expected to be signed...
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