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Form I-9 Explained October 5, 2015 by BerganKDV Team
Form I-9 Explained
The Form I-9 should be used to document that each employee hired after November 6, 1986 is authorized to work in the United States. Continue reading for a breakdown of each of the three form sections:
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Heavy vehicle use tax June 19, 2015 by BerganKDV Team
Heavy vehicle use tax
The heavy vehicle use tax, or HVUT, is a fee assessed annually on heavy vehicles operating on public highways at registered gross weights equal to or exceeding 55,000 pounds. Gross taxable weight of a vehicle is determined by adding: Actual unloaded weight of the vehicle fully equipped for service, Actual unloaded weight of any trailers […]
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How the IRS views your investments June 19, 2015 by BerganKDV Team
How the IRS views your investments
When it comes to taxes, all investments aren’t created equal — everything depends on their character and timing. So before you sell appreciated stock, buy interest-bearing bonds or even rebalance your portfolio, learn the tax consequences. Deferring vs. paying now The first distinction is between taxable and tax-deferred accounts. Retirement accounts such as traditional 401(k)s […]
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A look at the fuel tax rate increase June 19, 2015 by BerganKDV Team
A look at the fuel tax rate increase
Earlier in 2015, Iowans were keeping a close eye on the news for a possible fuel tax rate increase. The proposal, which each year would generate $200 million in new transportation funding, passed in the Iowa Senate and House last March. Supporters of the gas tax believe this is the best way to increase transportation […]
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What should know about the 2015 tax filing season June 19, 2015 by BerganKDV Team
What should know about the 2015 tax filing season
The 2015 tax filing season was predicted to be “one of the most complicated filing seasons we’ve ever had” by IRS Commissioner, John Koskinen. The 2015 filing season certainly brought about new questions, and fortunately answers, but it also brought about areas in need of further explanation. For example, for the first time, return filers […]
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Summary of fiscal 2016 budget proposal March 23, 2015 by BerganKDV Team
Summary of fiscal 2016 budget proposal
President Obama recently released his Fiscal Year 2016 federal budget proposal. This proposal includes items that could affect tax incentives for families, education tax breaks, new retirement savings opportunities and potential tax increases for higher-income taxpayers. We have highlighted some of the major items within the proposal below. 28-Percent Top Capital Gains Rate The President […]
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Healthcare credit relief for small businesses March 23, 2015 by BerganKDV Team
Healthcare credit relief for small businesses
Since 2010, certain small employers that provide health insurance coverage to their employees have been able to claim the small business health insurance tax credit. Prior to December 31, 2013 small business employers did not have to have a qualified health plan (QHP) acquired through a Small Business Health Options Program (SHOP) Exchange in order […]
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Exploring the five steps or the new revenue reconition standard December 16, 2014 by BerganKDV Team
Exploring the five steps or the new revenue reconition standard
On May 28, 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606). The standard was a joint project with the International Accounting Standards Board (IASB) in an effort to improve comparability of revenue recognition practices across entities, industries, jurisdictions, and capital markets. The standard’s […]
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Asset and entity protection September 28, 2014 by BerganKDV Team
Asset and entity protection
Business owners work hard to accumulate personal wealth.  The protection of that wealth must be a priority.  Asset protection planning allows business owners to protect themselves from the claims of unsecured creditors such as those who may bring suit against their business.  The failure to plan can result in the loss of both business and […]
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Employee retirement plans – When is an audit required? July 23, 2014 by BerganKDV Team
Employee retirement plans – When is an audit required?
Most employers are expected to offer an employee retirement plan.  Although retirement plans can be a means for attracting and retaining quality employees, there are many challenges to offering such plans.   The most challenging aspects of an employee retirement plan come to interpreting the plan document.  Ensure that your organization reviews the plan yearly […]
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