Braver » MC – Accountants & Advisors http://thebravergroup.com It's the way we do business. Wed, 01 Feb 2012 20:31:11 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 Choice of Entity http://thebravergroup.com/choice-of-entity/ http://thebravergroup.com/choice-of-entity/#comments Wed, 01 Feb 2012 20:19:59 +0000 heather http://thebravergroup.com/?p=3943 You’ve researched for hours, brainstormed for months, bounced ideas off family and friends and ran the numbers. You’re excited. You’re ready to launch your own business. Now what? Start with your plan, add advice from professionals, and sprinkle in some collaboration with your peers to lay the proper foundation for success your first year and many more to come. We hope that our monthly contributions in these pages will help you navigate your venture through its infancy and position yourself to realize the satisfaction and rewards of business ownership.

One decision you will face as a business owner is selecting the form of legal entity in which to conduct operations. While we’ll focus primarily on tax treatment in the discussion below, you’ll want input from a variety of perspectives – legal differences, insurance matters, investors and financing, etc. – so, be sure to get your team of advisors together when making this evaluation. Also, while this is an important decision, keep in mind that there is no one perfect entity type; so, if and when conditions change, your entity choice can be amended. Your goal is to make the most appropriate choice based on what you know today and conditions you expect over the next three to five years.

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by James D. Wilkinson, CPA/CITP

Posted on: February 1, 2012

]]> http://thebravergroup.com/choice-of-entity/feed/ 0 Seller Beware – States Expand Nexus Standard for Online Sellers http://thebravergroup.com/seller-beware-%e2%80%93-states-expand-nexus-standard-for-online-sellers/ http://thebravergroup.com/seller-beware-%e2%80%93-states-expand-nexus-standard-for-online-sellers/#comments Thu, 12 Jan 2012 16:11:19 +0000 heather http://thebravergroup.com/seller-beware-%e2%80%93-states-expand-nexus-standard-for-online-sellers/ We’ve all read that state treasuries continue to be hit hard by decreasing tax collections and pressure from increasing costs of services. Meanwhile, Internet sales continue to take a larger slice of the total retail sales market. Forrester Research predicts that online retail sales will grow to almost $250 billion in 2014, or 8 percent of total U.S. retail sales. In 2009 online sales amounted to $155 billion, or 6 percent of total U.S. retail sales.

With these two trends in place, none of us should be surprised that taxation of online sales is getting more and more attention in state legislatures around the country. What began in New York in 2008 has now escalated to half a dozen more states enacting laws to treat certain online sellers as taxable vendors. And at least another nine states have or will consider such legislation in 2011. This article will review the business arrangement that states are attacking, outline the provisions of the statues that most states are adopting, highlight new developments around this topic, and offer suggestions for how to advise clients that sell products online.

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by Peter Harris, CPA

Posted on: January 12, 2012

]]> http://thebravergroup.com/seller-beware-%e2%80%93-states-expand-nexus-standard-for-online-sellers/feed/ 0 Why You Should Take Another Look at Your 1040 http://thebravergroup.com/why-you-should-take-another-look-at-your-1040/ http://thebravergroup.com/why-you-should-take-another-look-at-your-1040/#comments Fri, 10 Jun 2011 14:18:29 +0000 alisonsimons http://thebravergroup.com/why-you-should-take-another-look-at-your-1040/ Debbie Mitchell, principal at Braver PC, talks about common errors in 1040 preparation and how to prevent them for the future in an article published in the American Institute for CPA’s newsletter publication, cpa2biz.

During the course of reviewing 1040s, reviewers are most likely finding common errors in the 1040 preparation. These issues should be noted for purposes of future training sessions. In addition, there are numerous areas in which tax planning comes into play. A few of these 1040 issues are briefly described in the article below.

Read the full article:  Why You Should Take Another Look at Your Client’s 1040

Published on: June 10, 2011

]]> http://thebravergroup.com/why-you-should-take-another-look-at-your-1040/feed/ 0 Small Employer Health Insurance Premiums Credit http://thebravergroup.com/small-employer-health-insurance-premiums-credit/ http://thebravergroup.com/small-employer-health-insurance-premiums-credit/#comments Fri, 15 Apr 2011 17:13:57 +0000 alisonsimons http://thebravergroup.com/small-employer-health-insurance-premiums-credit/ Debbie Mitchell, principal at Braver PC, talks about Small Employer Health Insurance Premiums Credit in an article published in the American Institute for CPA’s newsletter publication, cpa2biz.

Limitations divulged! The credit for health insurance premiums is a welcome relief for small employers because of the high costs of these premiums. However, there are limitations.

Read the full article: Small Employer Health Insurance Premiums Credit

Published on: April 15, 2011

]]> http://thebravergroup.com/small-employer-health-insurance-premiums-credit/feed/ 0 What is the Kiddie Tax? http://thebravergroup.com/what-is-the-kiddie-tax/ http://thebravergroup.com/what-is-the-kiddie-tax/#comments Tue, 15 Mar 2011 15:07:56 +0000 alisonsimons http://thebravergroup.com/what-is-the-kiddie-tax/ Debbie Mitchell, principal at Braver PC, talks about the Kiddie Tax in an article published in the American Institute for CPA’s newsletter publication, cpa2biz.

“What constitutes a “Kiddie”? Is it a five-year old, a 10-year old or even a 15-year old? Actually, a full-time student can be considered a kiddie until the age of 23.”

Posted on: March 15, 2011

]]> http://thebravergroup.com/what-is-the-kiddie-tax/feed/ 0 SumNews Member Spotlight: Dennis Pellecchia http://thebravergroup.com/sumnews-member-spotlight-dennis-pellecchia/ http://thebravergroup.com/sumnews-member-spotlight-dennis-pellecchia/#comments Mon, 10 Jan 2011 14:49:42 +0000 alisonsimons http://thebravergroup.com/sumnews-member-spotlight-dennis-pellecchia/ Dennis Pellecchia, Chairman of the Board,   featured as the “Member Spotlight” in   MSCPA’s SumNews – Winter issue.

Posted on: January 10, 2010

]]> http://thebravergroup.com/sumnews-member-spotlight-dennis-pellecchia/feed/ 0 Is IFRS for SMEs For Your Company? http://thebravergroup.com/is-ifrs-for-smes-for-your-company/ http://thebravergroup.com/is-ifrs-for-smes-for-your-company/#comments Thu, 01 Jul 2010 15:24:58 +0000 alisonsimons http://thebravergroup.com/is-ifrs-for-smes-for-your-company/ Imagine if the federal tax code were reduced to the length of a novella.   Well, something nearly as unlikely has taken place. Private companies — which make up more than 95 percent of United States businesses — now have the option of replacing 17,000 pages of accounting regulations with the newly published 230-page International Financial Reporting Standards for Small and Medium Sized Entities, known as IFRS for SMEs.

Posted on: July 1, 2010

]]> http://thebravergroup.com/is-ifrs-for-smes-for-your-company/feed/ 0 Benefits of Collaboration Are Many For Businesses and Non-Profits http://thebravergroup.com/benefits-of-collaboration-are-many-for-businesses-and-non-profits/ http://thebravergroup.com/benefits-of-collaboration-are-many-for-businesses-and-non-profits/#comments Thu, 01 Apr 2010 19:10:45 +0000 admin http://thebravergroup.com/wordpress/?p=448 “Collaborations between businesses and non-profits are currently at an all-time high. Innovative businesses and non-profit leaders understand that a strong cross-sector partnership enables both teams to advance important goals that they may not otherwise be able to push single handedly.”

Posted on: April 1, 2010

]]> http://thebravergroup.com/benefits-of-collaboration-are-many-for-businesses-and-non-profits/feed/ 0 Sustainability for CPA Firms http://thebravergroup.com/sustainability-for-cpa-firms/ http://thebravergroup.com/sustainability-for-cpa-firms/#comments Mon, 04 Jan 2010 19:24:48 +0000 admin http://thebravergroup.com/wordpress/2010/01/sustainability-for-cpa-firms/ “As the quality movement of the 1980s-1990s revolutionized business and determined the success of some companies over others (think Toyota and GM), the sustainability movement will offer the same opportunity for companies over the next decade.”

Posted on: January 4, 2010

]]> http://thebravergroup.com/sustainability-for-cpa-firms/feed/ 0 Make Sure Your Board and Staff Are Financially Literate http://thebravergroup.com/make-sure-your-board-and-staff-are-financially-literate/ http://thebravergroup.com/make-sure-your-board-and-staff-are-financially-literate/#comments Thu, 01 Oct 2009 17:21:44 +0000 admin http://thebravergroup.com/wordpress/2009/10/make-sure-your-board-and-staff-are-financially-literate/ “Everyone involved with running a nonprofit, from managers and board members to staff and volunteers who are involved in financial decision-making at any level, should be fully conversant with the organization’s finances. However, many of these people often are not as financially literate as they need to be.”

Posted on: October 1, 2009

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