by Jeanine Hemingway CPA | Nov 4, 2016 | Business, Education, Tax Blog
November 4, 2016 – What You Need to Know About the New Federal Overtime Rules This past May, the US Department of Labor released its final rule on the overtime exemption threshold, travel pay, and minimum wage under the Fair Labor Standards Act (FLSA). The new... 
by Jeanine Hemingway CPA | Jun 6, 2016 | Business, Education, Tax Blog
January 6, 2016 – The rules for mileage deduction?The IRS is starting to come down hard on mileage deductions. If audited, records must reflect the amount of miles, time and place the driving took place, the business purpose and the business relationship to the... 
by Jeanine Hemingway CPA | Jan 6, 2016 | Business, Education, Health, Tax Blog
Do you have the minimum essential medical coverage? In order to comply with section 1302 in the HRN, having essential coverage means that you have the following items covered in your plan: Ambulatory patient services.Emergency services.Hospitalization.Maternity and... 
by Jeanine Hemingway CPA | Dec 20, 2012 | Announcements, Business, Education, Tax Blog
Sometimes to keep your cash flow moving, you may need to loan your Company money. This is perfectly legitimate, but make sure there is a written promissory note, with some reasonable interest rate, and some reasonable payment schedule. I would recommend 1+prime... 
by Jeanine Hemingway CPA | Aug 22, 2012 | Announcements, Business, Education, Tax Blog
If you reimburse employees for mileage, educational classes or other business expenses, you need to have a policy called an Accountable Plan. If you do not have one, the IRS can re-classify all these reimbursements as taxable income. This does not need to...