Free HRA Event – June 28th

22 06 2017

deadline

A Health Reimbursement Arrangement (HRA) commonly referred to as a health reimbursement account, is an IRS-approved, employer-funded, tax-advantaged employer health benefit plan that reimburses employees for out-of-pocket medical expenses and individual health insurance premiums.

Group plans don’t always fit small businesses. We have a better solution.

find out more

Join us, and our partners, TASC, on June 28th for an HRA Event. Learn more about how these plans could save you money on your taxes.

 

Register today!

 

Event to Take Place:

Wed, June 28, 2017

3:00 p.m. – 4:00 p.m. EDT

 

RBSK Partners PC

224 N Broadway Street

Greensburg, IN 47240

 





RBSK partners with Chamber for “Fair Labor Standards Act Overtime Final Rule” Seminar

26 10 2016

Thursday, October 20th, RBSK Partners PC had the pleasure of partnering with the Greensburg Decatur County Chamber of Commerce to host a presentation on the “Fair Labor Standards Act Overtime Final Rule” to more than 30 local Chamber members.


Mr. Steve Garrett, Senior Investigator with the United States Department of Labor Wage and Hour Division, served as our presenter. Mr. Garrett is currently assigned a temporary duty station in the Indianapolis District Office with 20+ years with the US Department of Labor. Mr. Garrett delivered an informative presentation allowing for questions to be answered throughout. He also allowed for more personal one-on-one questions following the presentation.


A big thank you to the Decatur County Schools Administration for the use of their facilities. And a big shout out to Corner Store Deli & Catering for providing the lunch and snacks during the event.

 





Tressler Receives Health Care Reform Certification

30 06 2016

RBSK Partners is pleased to announce that Lisa Tressler, CPA, a partner at RBSK, recently received a Health Care Reform Certification, by successfully completing nearly 30 hours of continuing professional education focused solely on the Affordable Care Act.

The program provides in-depth knowledge and helps practitioners develop expertise related to the legislative and tax implications of health care reform. This program arms practitioners with the knowledge and tools they need to ensure client compliance with health care reform legislation.

The passage of ACA has created new mandates for individuals and businesses. Tax practitioners face an obligation to provide their clients with information and advice on complying with the new mandates.

Applicable large employers are now required to offer affordable health coverage that provides minimum value to their full-time employees and their dependents. They need to know how to calculate which employees are included in their employee count, the options for the state exchanges, and the penalties that are assessed if they do not comply.  All of this information, including how to fill out the related tax forms, is fully covered by the Checkpoint Learning Health Care Reform Certificate Program.

“2015 was a key year for health care reform, with regulations taking effect for the first time and requiring strict attention from both businesses and individuals,” said Ken Koskay, CPA, CFP, and senior vice president of learning solutions with the Tax & Accounting business of Thomson Reuters. “Participants in this certificate program are better suited to serve clients that need assistance with the Affordable Care Act.”

This certification provides practitioners with the expertise necessary to provide guidance to their clients on the Affordable Care Act, including employer and individual mandates, the net investment income tax, reporting requirements, understanding compliance, completion of forms and calculations, and health insurance marketplaces. It prepares professionals to consult with clients on health care reform issues – both tax and non-tax.

If you need assistance with any of the complexities introduced by the ACA, please call Lisa at 812-222-1510, or toll free at 800-676-7567.

LisaSM





Work Opportunity Tax Credit

25 05 2016

The Work Opportunity Tax Credit (WOTC) is available for wages paid by employers who hire individuals from certain targeted groups of hard-to-employ individuals. The targeted groups are:

  1. Qualified members of the families receiving assistance under the Temporary Assistance for Needy Families (TANF) program,
  2. Qualified veterans,
  3. Qualified ex-felons,
  4. Designated community residents,
  5. Vocational rehabilitation referrals,
  6. Qualified summer youth employees,
  7. Qualified members of families in the Supplemental Nutritional Assistance Program (SNAP),
  8. Qualified Supplemental Security Income recipients,
  9. Long-term family assistance recipients, and
  10. Beginning January 1, 2016, long-term unemployed individuals.

An employer must obtain certification that an individual is a member of a targeted group before the employer may claim the credit. An eligible employer must file IRS Form 8850 along with ETA Form 9061 with their respective state workforce agency within 28 days after the eligible worker begins work.

For each group listed above, there are specific criteria that must be met in order to be certified as a member of that targeted group. The second page of the instructions to Form 8850 include these criteria. https://www.irs.gov/pub/irs-pdf/i8850.pdf

Recently enacted legislation extends the time for employers to submit these forms for various targeted groups who began working during various time periods as follows:

  1. An employer who hired or hires a member of a targeted group other than qualified long-term unemployment recipients (groups 1 through 9 above) and who began or begins work between January 1, 2015 and May 31, 2016 has until June 29, 2016 to file Form 8850 with their state workforce agency.
  2. An employer who hired or hires an individual who is a long-term unemployment recipient (group 10 above) who began or begins work between January 1, 2016 and May 31, 2016 has until June 29, 2016 to file Form 8850 with their state workforce agency.
  3. An employer who hires a member of any of the targeted groups who begins work after June 1, 2016 is not eligible for the transition relief and must file Form 8850 with their state workforce agency within 28 days after the eligible worker begins work.

 

If you have any questions concerning the WOTC, or if you feel that you may have an employee who qualifies for the credit especially during the transition relief period, we encourage you to give us a call.





End of Tax Season Note from RBSK

21 04 2016

April 18th has arrived!  RBSK would like to take a minute to thank our colleagues, clients and friends for allowing us the opportunity to serve your needs.

We would also like to let everyone know that our offices will be closed Friday, April 22nd to allow our staff a well-deserved break.  We will be back in the office bright and early Monday morning.

Break





Did you say RBSK IT Road Show?

27 01 2016

Yes, that is what we have taken to calling our group of individuals in the IT Department here at RBSK Partners, PC. Ok, so it is really just a fun name we have given ourselves.  Our IT Department is actually made up of four individuals.  Three IT Consultants: Andy Koetter, Barry Bailey & Brian McReynolds; and our IT Administrative Assistant: (Me) Jennifer Gunter.

The members of our IT Department have been making appearances all month. We began our “Road Show” by speaking at the Optimist Club Breakfast on January 7th.  Our next engagement was at the Rotary Club Luncheon Meeting on January 18th.  Our most recent appearance was on the WTRE Chamber Chat January 25th.

We are having a great time meeting new people and getting the chance to inform everyone that we at RBSK Partners do more than the typical Accounting firm. You might be surprised to know that we offer computer services as well.  Our IT Department can help with all your computer needs.

During our Road Show we have had a few questions that have been asked frequently. People want to know how long your computer should last.  Obviously not all PC’s are the same.  As a general rule of thumb, a PC used in the business world should be replaced after 4 or 5 years.  Yes, they may still be running at that time, but probably not at their top speed or as well as they once did.  The fact of the matter is that technology changes and the needs of the software running on your PC requires more resources than they used to.

RBSK IT Road Show 2Another question we were asked on our Road Show was what we thought of Windows 10. With the release of Windows 10, we see good things.  The main thing you want to think about when considering upgrading to Windows 10 is to be sure the software you use for your business is compatible.  Software companies are not always on the cutting edge as you would think.  If the software you use is compatible, you are probably safe to move up.  Microsoft brought back a lot of the look and feel of Windows 7 that we like and some of the new features offered by Windows 8 that went over well.  As with any Windows upgrade there is a bit of a learning curve.  Overall, we like it.  We would caution you to be sure to take a look at the privacy settings while upgrading to Windows 10.  With the introduction of Cortana, Windows is asking for more approval to monitor how you use your PC to better assist you.  You do have the option to restrict that monitoring.  We recommend restricting that information.

We were also asked about backups and the cloud. There was a movie preview not long ago where the couple are discussing “The Cloud”.   One of them says “Nobody understands the cloud.  It’s a mystery.”  Well, that about sums it up for most of us.  We all know it is important to back up our data.  But do we want it in the illusive cloud?  The answer to that is “Yes”!  Backing up to the cloud is actually a good thing.  If you are running a business, the safest way to be sure your business can stay up and running in the case of a disaster is to backup to the cloud.  Backing up to the cloud means you are saving your data to another location.  So if your building blows away, you can still access your data.  Your building may be gone, but not your business.  You can breathe a little easier knowing that your data is not just out there in La La Land.  The backup software companies actually go to great lengths to keep your data safe by encrypting it so that no one can just happen across it.  Only you have the ability to access your data.

The last thing on everyone’s minds was about us individually. Who we are?  What is our background?  How long have we been in the technology field?  Well I mentioned at the beginning we are calling ourselves the RBSK IT Road Show.  If you have more questions, we can bring our Road Show to you.  We would love to hear from you!

SM Jennifer

Submitted by: Jennifer Gunter





Big changes to FAFSA

4 12 2015

Have a child going to college?  Big changes to the FAFSA were announced from the White House in September.  The changes become effective in October of 2016 and will have a big impact for families with graduates in the year 2017 and beyond.

The new method is referred to as “prior-prior-year” because student’s college financial aid eligibility will now be based off of a family’s income from two years prior to when a student enters college.  Students entering college in the 2017-2018 school year will be able to use income tax information from their parent’s 2015 tax return.  Also with the prior-prior-year method you will be able to file a FAFSA form as early as October (2016).

Currently a student’s financial aid eligibility is based off of the income tax return for the previous year, so the eligibility for school year 2015 – 2016 is based off the 2014 income tax return.  Aid can change throughout the college years with a family’s finances, but the first year of aid could be crucial in playing a part in where a student will choose to attend college.  With current deadlines for filing the FAFSA ranging from January – March, nearly 4 million students file the FAFSA before they have access to the latest tax return.

With these welcomed changes, it will help students determine the true cost of attending college much earlier in the process.  It means students will be able to apply for aid earlier and more easily, and make better informed decisions about where to apply and how to pay for college.

sm_christa

Submitted by Christa Dickson