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Dive into Sikich’s entrepreneurial thought leadership, for clarity on the recent trends affecting your business.
New Jersey Offers Tax Amnesty Program Through January 15th (New Mexico’s Program Set to Expire on December 31st)
Businesses with New Jersey underreported taxes and/or unfiled tax returns may now qualify for a tax amnesty program that ends on January 15, 2019. Program Breakdown This program provides relief from state tax liabilities for tax returns due on/after February 1, 2009 and through September 1, 2017. Taxpayers can pay back taxes, file past due tax returns,
Guidance on Gifting: What It Means for Your Taxes
On November 20, 2018, the IRS issued proposed regulations which further clarified the taxation of past and future gifts under the new tax law. It provides guidance on how gifts will be treated in the future and how the tax will be mathematically calculated to avoid unfair results.
Creating a Custom Field That Uses Calculated Data from a Saved Search
Sometimes a business requirement demands that the data in a custom field is not something that can be derived by sourcing or using a formula. You may need to provide a total of the quantity of all items on a
How to Use the Regression Suite Automation Tool (RSAT)
Installation and configuration of the RSAT tool is pretty straight forward, just follow the instructions in the user guide. To recap the requirements, you will need the following: D365 F&O sandbox A Windows PC – I used Windows 10 Excel
Reminder: 403(b) Plan Documents Deadline Coming Up
The deadline for plan sponsors to update their 403(b) plan documents to a pre-approved plan is quickly approaching. Background On March 31, 2017, the Internal Revenue Service (IRS) issued a letter regarding pre-approved prototype plans in Revenue Procedure 2017-18. This
How to Add Employee Details in NetSuite Charge-Based Invoices
A Project record in NetSuite allows for several different billing types: Fixed Bid Interval, Fixed Bid Milestone, Time & Materials and Charge-Based. The first three options (Fixed Bid Interval, Fixed Bid Milestone and Time & Materials) are basic options for
Payroll and HR Best Practices: What You Need to Know for Year-end and Beyond
Download our HR & Payroll Best Practices webinar to prepare for year-end and so you can phase into 2019 as seamlessly as possible.
How Savings Age: The 401(k) Celebrates a Birthday
Having looked at countless portfolios throughout my career, the first thing that strikes me about 401(k) plans is that this vehicle is the leading liquid asset owned by individuals. Anecdotally speaking, this fact is true for most people of varying
Sikich Series on Tax Reform: Impact of Tax Reform on Choice of Entity
The question of entity choice is again top of mind for many business owners, given the many changes that became effective January 1, 2018. With change comes a lot of questions and we’ve outlined several key points to explore.
SMTP Submission Changes
We have successfully used an SMTP relay service for integrating on-premises applications and appliances to route mail through our Office 365 tenants. For years this has worked seamlessly, almost in a set-and-forget type of a configuration. Over the past several
A New Account to Follow: The IRS Joins Instagram
The Internal Revenue Service (IRS) joins celebrities, insta-famous dogs, and millions of other users with their own Instagram account. With hopes to expand communication to taxpayers in the digital realm, the IRS created their Instagram account to share timely information
You Have More Time! The ACA Reporting Deadline Is Extended
The Affordable Care Act (ACA) 2019 reporting deadline was extended from January 31, 2019 to March 4, 2019 in IRS Notice 2018-94. The Notice extends the date that employers and insurers must provide individual statements on 2018 health coverage. Also
Translating Life Science Companies’ Data Assets into Business Advantages
The medical and scientific innovation and research that is core to life sciences companies is reflected in large and continuously expanding volumes of data. Most often, research and scientific data is generated and managed in applications that are purpose-built for
How to Customize Advanced PDF Templates for NetSuite Custom Records
Users of NetSuite custom records previously had two options for printing: Using the Print button, which essentially did a poorly formatted “print screen,” or building a customized PDF using SuiteScript. NetSuite now automatically creates a Standard Advanced PDF HTML Template
Sikich Series on Business Succession Planning: What You Need to Know About Business Valuations
Most business owners will have a valuation conducted a mere handful of times throughout their career. For this reason, there is often a great deal of uncertainty around business valuations, their purpose, and the worth they can offer. It is
Providing Work Instructions to Job Operators in Microsoft Dynamics 365 for Finance and Operations and AX
In a typical manufacturing company, the factory personnel will have received training on the machines and tools they work with. Yet for the manufacturer of certain products, it is often the case that special work instructions are needed, especially in
Investing Sustainably for Individual Investors – Matching Your Investments with Your Values
You can make a difference using the money you invest. By targeting your investment dollars toward companies that do good, you can advocate for important issues and still receive competitive investment returns. Empirical evidence suggests that managers using analysis
How to Calculate the Amount Remaining on a Purchase Order in NetSuite
While it is easy to add the Quantity and Quantity Received to a saved search, NetSuite does not provide a standard field to show the amount remaining to be received at the item or header level. This information can be
How to Use Standard or ‘Master’ Routings in Microsoft Dynamics AX and D365 for Finance and Operations
In many manufacturing companies, even those with a lot of Engineer-to-Order, many routings are very similar or even identical. For example: a large number of parts made on a CNC machine have the same run time. In order to save
Five 2018 Year-End Tax Tips and Planning Reminders for Individuals
This is the first full year with the impact of last year’s comprehensive tax reform legislation. The “Tax Cuts and Jobs Act” made significant changes for businesses and individuals. The goal was to promote economic growth, create more jobs, and make U.S. companies more competitive with the rest of the world. In addition,
Reducing the Risk, Complexity, and Cost of Compliance and Reporting in Life Sciences Companies
For life sciences companies, regulatory compliance never becomes any less complex and stringent. Depending on the exact nature of your work and where you do business, multiple regulatory frameworks apply. Existing frameworks may be refined by regulators and governments, requiring
Sikich Series on Tax Reform: IRS Issues Proposed Regulations on New Limits for Deducting Business Interest Expense
Among the stated principles in last year’s tax reform legislation, the “Tax Cuts and Jobs Act” (TCJA) was to promote economic growth, create new jobs, and make U.S. companies more competitive with companies around the world. Some of the key
Sikich Series on Tax Reform: IRS Issues Guidance on New Opportunity Zone Incentive
Opportunity Knocks One of the lesser known provisions in last year’s Tax Cuts and Jobs Act (TCJA) may soon be a popular topic, as the new Opportunity Zones (OZ) offer a tax incentive for many taxpayers. While we addressed this
Tax Considerations for Real Estate Investors: How Does the Qualified Business Income Deduction Apply to Real Estate Businesses?
General Qualified Business Income Deduction Under the tax reform legislation passed in December 2017, individuals with business income from pass-through entities (partnerships, LLCs, S Corporations and sole proprietorships) may qualify for the new Qualified Business Income Deduction under new IRC
