A key provision of the American Rescue Plan Act passed in 2021 includes lowering the thresholds that trigger a Form 1099-K – Payment Card and Third-Party Network Transactions. This means businesses and individuals may receive this form for tax year 2022, something they may not have seen in previous years. New Form 1099-K Guidelines For …
Read More...A merger or acquisition rarely runs smoothly. Having the right professionals on your team and knowing what questions to ask can help ease any tax challenges. Here are eight questions to help transition from separate entities to consolidated or subsidiary status. 1. Will the acquired company merge with the parent (acquiring) organization, or will it …
Read More...The House of Representatives passed The Inflation Reduction Act (IRA) Friday, August 12, and President Joe Biden signed into law August 16. The legislation, which is a pared-down version of the proposed Build Back Better plan, was passed through the budget reconciliation process and is expected to pay for itself and decrease the budget deficit. …
Read More...With inflation rates reaching historical highs and driving up the cost of doing business, business owners are seeking out creative ways to fight inflation. The Series I Savings Bond is one tool that’s been getting some buzz. Also known as I Bonds, these low-risk savings products depend on higher inflation to produce better returns. The …
Read More...By law, everyone must pay tax as they earn income. Generally taxpayers must pay at least 90 percent of their taxes throughout the year through withholding, estimated or additional tax payments or a combination of the two. If they don’t, they may owe an estimated tax penalty when they file. Some taxpayers earn income not …
Read More...Payne Nickles & Company, CPAs is proud to announce the scholarship winners for the 2022-2023 academic years! The annual scholarships are funded through an account established by Payne Nickles & Company, CPAs within the Huron County Community Foundation, and are available to any second, third, fourth- or fifth-year accounting major in Erie, Huron or the …
Read More...During the uncertainty of the pandemic in 2020, the Financial Accounting Standards Board (FASB) granted a temporary reprieve for private companies, delaying their deadline for implementing new lease accounting practices. If your businesses or non-profit organizations have not yet adjusted how you report leases on your financial reporting documents, keep reading for more information to …
Read More...For more than 60 years, G.W. Samaha Antiques has been a prominent part of the community in Norwalk and surrounding towns. Milan, Ohio became an important antiques destination after G.W. Samaha, Sr. began hosting antiques shows in the Milan Town Hall ballroom several times a year. The business was eventually handed down to G.W. …
Read More...Our 7th Annual Community Shred Day is coming up: Save the Date! In partnership with Firelands Local (formerly CLI), Payne Nickles & Company is offering drop-off of documents for secure shredding at both offices in Norwalk and Sandusky on September 22, 2022, from 10 a.m. until 3 p.m. local time. View the full flyer below! …
Read More...Business travel is back. COVID restrictions have eased, and in-person conferences are back on the calendar. And as more people return to offices, companies are warming to sending their employees on work trips. For many businesses, it’s been a minute since they’ve had to account for employee travel expenses. So it might be time for …
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