 HARDING, SHYMANSKI & COMPANY Certified Public Accountants and Consultants
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Harding, Shymanski & Company is honored to be an associate member of the National Association of Surety Bond Producers (NASBP). |
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| Construction and Real Estate Industry | |
Because Harding, Shymanski & Company, P.S.C. is committed to providing quality service to our construction and real estate clients, we have selected a team of dedicated professionals to serve as your industry's consultants. These individuals understand the language and key issues unique to your industry and possess the drive and determination to help you manage your company on a proactive basis. |
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M/WBE Certification Application |
The Minority/ Women Business Enterprise (M/WBE) Certification Application developed by the Indiana Department of Administration and the City of Indianapolis has been recently revised. All companies must obtain a Business Registration Number via http://www.in.gov/idoa/2464.htm. Additionally, if your company files corporate tax returns, you may now submit the corporate taxes, either the personal tax return(s) of the qualifying member(s) OR a notarized letter from a CPA. A draft of the CPA letter is included with the certification application. M/WBE Certification Application
If would like more information or have any questions please contact Randy Schulz, CPA, at (812) 491-1344 or rschulz@hsccpa.com |
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Unemployment Tax Updates | |
Under the Title XII provision, a state is allowed to request an advance from the Federal trust fund as the state's trust fund reaches a level considered insolvent. After the advance is secured by the state, there is a set time to repay the advance. If the balance of the advance is outstanding as of the second January 1 following the loan date and the state fails to pay the entire loan amount by November 10th of that second year, the Federal government turns to the employers to repay a portion of the advance. This is done by reducing the FUTA tax credit that an employer receives when filing their Federal Form 940.
During 2010, three states (Michigan, Indiana, and South Carolina) were unable to repay their Title XII loans. It is expected that more than twenty states will lose their FUTA tax credit for 2012. Twenty-two states are requesting advances in order to pay unemployment benefits to claimants. With the extension of benefits renewed, the amount of the advances and states requesting advances is expected to increase.
The interest free loans end as of December 31, 2010 under the under the American Recovery and Reinvestment Act (ARRA) of 2009. It is possible that the interest free loans will be extended which will have an effect on the 2012 FUTA tax credit reductions. There is also speculation, that an increased FUTA tax rate and/ or wage base is expected by 2013. An increased taxable wage base will have a ripple effect across the nation. Each state's wage base must be equal to or greater than the FUTA taxable wage base, which is currently $7,000.
For more information, please contact Randy Schulz, CPA, at
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When Is It The Right Time To Outsource The HR Function? | |
Building a successful and profitable organization is not an easy task. There are huge costs involved in setting up a new business. Huge analysis and extensive research is carried on before you set up a business. Various companies at the time of start up undertake the fundamental processes involved in setting up a business on their own.
Right from operations to accounts to marketing and hiring, all the processes are carried on internally. As the business expands, many managers and owners of businesses have complained that almost all of their productive time is spent on HR-related issues.
The Human Resources department in any organization is fundamentally essential. The HR Department has a lot of roles and responsibilities including hiring, compensation, benefits, performance, compliance, et al. People management is a specialized field that needs expertise. The important question is 'How does the organization acquire HR expertise in the most cost effective manner?"
Human Resources outsourcing is an ideal situation, especially when the organization wants to dedicate its resources to operations or expansion, rather than HR issues. Companies that undertake HR outsourcing find that experienced and committed Human Resources professionals whose main responsibility is to handle HR functions for an organization makes sense. This way the business can concentrate fully on their core activities and divert their resources toward increasing productivity and thereby profitability in the long run.
Most of the organizations have come to realize the various benefits that are being offered by Human Resources outsourcing. Even if your organization is not a big one, your employees can still be offered great benefits, good compensation plans, and reward programs. Human Resources outsourcing is now a mature industry which is a direct consequence of the increasing trust that companies have placed in the HR outsourcing process.
For more information, please contact Susan Hirsch, SPHR, at (812) 491-1306 or shirsch@hsccpa.com.
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Harding, Shymanski & Company, P.S.C. provides accounting, tax, and consulting services to clients from offices in Evansville, Indiana, and Louisville, Kentucky.
We are committed to quality. Adding value to the services we provide is our most important goal. Our unwavering dedication and commitment to quality resonate throughout every aspect of our work.
Call us today! (800) 880-7800 in Evansville and (502) 584-4142 in Louisville
www.hsccpa.com
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| Disclaimer |
The information contained in this email is for general guidance on matters of interest only. The publication does not, and is not intended to provide legal, tax or accounting advice. |
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