Category: 2016 Fall Newsletter

By Andrew Schwartz, CPA, Founder of the MDTAXES Network Last month, my wife and I dropped off our older child at college to start his freshman year.  He is eager to spend the next four years taking classes in a variety of interesting subjects while working towards his degree. A lot of what college kids… Continue reading Two Practical Personal Finance Lessons for College Students

By Marc Slafsky, Salem Five Insurance Services  Content provided by Travelers Insurance, ISU Network, and Philadelphia Insurance Co.  October is Cyber Liability Awareness Month.  Did you know: Data breaches have increased 42% in the last year. 31% of the breaches have occurred in companies with less than 100 employees. All Industries are vulnerable. The average… Continue reading October is Cyber Liability Awareness Month

New Procedure Helps People Making IRA and Retirement Plan Rollovers From “IRS News” IR-2016-113 The Internal Revenue Service today provided a self-certification procedure designed to help recipients of retirement plan distributions who inadvertently miss the 60-day time limit for properly rolling these amounts into another retirement plan or individual retirement arrangement (IRA). In Revenue Procedure 2016-47,… Continue reading IRS Helps Recipients of Retirement Plan Distributions Who Missed 60-Day Deadline for Rollover

By Michael Bohigian, CPA, Schwartz & Schwartz P.C. As if domestic taxes weren’t challenging enough, foreign tax issues can lead a taxpayer down many complicated paths. Here is a quick overview of four of the major reporting requirements and thresholds for taxpayers with foreign accounts: Schedule B Questions: Anyone who has either a financial interest… Continue reading Tips for Reporting Your Foreign Accounts

By Susan Schwartz, CFP ® There are significant changes to college financial aid applications this year.  First, the 2017-2018 FAFSA and CSS Profile will be available to students and parents as of October 1, 2016.  This is a three month change from the traditional January 1st release date.  The goal is to allow families more… Continue reading Changes to College Financial Aid App

The IRS issued a warning of a phone call scam from people impersonating the IRS. The scammers demand payment for a non-existent tax, which they call the “Federal Student Tax”. The scammers try to convince people to wire money immediately or they threaten to report the student to the police. Remember – the IRS will… Continue reading IRS Warns of Latest Scam

By Pamela Dembski Hart, Healthcare Accreditation Resources LLC  Question: I attended the annual OSHA Health and Safety (Bloodborne Pathogen and HAZCOM) training recently provided at our dental practice. I inquired when I would receive the OSHA certification form. The instructor informed me that…… Answer: Contrary to what you may have heard from the rumor mill,… Continue reading Misconceptions about Annual Safety Training for Dental Practices

By Marc Slafsky, Salem Five Insurance Services  Content provided by Travelers Insurance, ISU Network, and Philadelphia Insurance Co.  October is Cyber Liability Awareness Month.  Did you know: Data breaches have increased 42% in the last year. 31% of the breaches have occurred in companies with less than 100 employees. All Industries are vulnerable. The average… Continue reading October is Cyber Liability Awareness Month

New Procedure Helps People Making IRA and Retirement Plan Rollovers From “IRS News” IR-2016-113 The Internal Revenue Service today provided a self-certification procedure designed to help recipients of retirement plan distributions who inadvertently miss the 60-day time limit for properly rolling these amounts into another retirement plan or individual retirement arrangement (IRA). In Revenue Procedure 2016-47,… Continue reading IRS Helps Recipients of Retirement Plan Distributions Who Missed 60-Day Deadline for Rollover

By Susan Schwartz, CFP ® There are significant changes to college financial aid applications this year.  First, the 2017-2018 FAFSA and CSS Profile will be available to students and parents as of October 1, 2016.  This is a three month change from the traditional January 1st release date.  The goal is to allow families more… Continue reading Changes to College Financial Aid Application

By Andrew Schwartz, CPA Last month, my wife and I dropped off our older child at college to start his freshman year.  He is eager to spend the next four years taking classes in a variety of interesting subjects while working towards his degree. A lot of what college kids learn, however, is learned outside… Continue reading Two Practical Personal Finance Lessons for College Students

By Michael Bohigian, CPA As if domestic taxes weren’t challenging enough, foreign tax issues can lead a taxpayer down many complicated paths. Here is a quick overview of four of the major reporting requirements and thresholds for taxpayers with foreign accounts: Schedule B Questions: Anyone who has either a financial interest or signature authority in… Continue reading Basics for Reporting Your Foreign Accounts

From IRS News: IR-2016-81 WASHINGTON — The Internal Revenue Service today issued a warning to taxpayers about bogus phone calls from IRS impersonators demanding payment for a non-existent tax, the “Federal Student Tax.” Even though the tax deadline has come and gone, scammers continue to use varied strategies to trick people, in this case students. In… Continue reading IRS Warns of Scam