Simply put, a defined benefit plan is a pension plan that uses a formula to promise a predetermined monthly benefit to an employee at their retirement. However, the specifics that go into a defined benefit plan are less simple, and it is important for all involved to understand the ramifications of the plan before it […]
What are Tax Extenders for Small Businesses?
Tax extenders are a group of fifty tax breaks that apply not only to small businesses, but teachers and individuals as well. What you need to be concerned with are those that apply directly to small businesses, especially dental practices. While these tax breaks are temporary in nature, they can have a serious impact on […]
Home Office Tax Rules
There was a time that determining the correct deductions for your home office was complicated and could potentially lead directly to an audit. Luckily, those days are in the past. The IRS no longer considers a home office a red flag, and they have found ways to simplify the process of taking this deduction. Before […]
What is Cost Segregation?
Cost segregation is the process of identifying your assets and correctly classifying those assets for the purpose of paying federal taxes. In this process, personal assets that are mixed with real property assets are separated out, so all assets can be depreciated properly and potentially increase your bottom line. Cost Segregation Studies A cost segregation […]
Michael & Company Accounting Associate Diana Signoriello Passes Third Part of CPA Exam
Michael & Company, a CPA firm headquartered in Fresno, Calif., is excited to announce that Diana Signoriello has successfully completed the third part of the CPA examination. Ms. Signoriello is currently an accounting associate at the firm. Ms. Signoriello embarked on the journey to become a Certified Public Accountant (CPA) approximately one year ago. One […]
Steps to Reduce the Risk of Getting Hacked at Your Dental Practice
Hacking is on the rise and dental practices are not immune from the risks hackers pose to businesses today. In fact, due to the rapidly evolving pace of technology and the single-minded resourcefulness of today’s hackers, businesses, especially in those in the medical industry, face greater risks than ever before. Bigger businesses have become increasingly harder […]