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Gunnip & Company CPAs
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The Trump administration has unveiled their proposal for tax reform. The proposal is NOT formal legislation but is an outline composed of broad principles.In order to become reality, the proposal will now have to be crafted into a bill, which would have to pass in the U.S. House and the Senate before going to the President to be signed into law. Proposed changes include a large decrease in the corporate tax rate from 35 to 15%. It also cuts the top rate on pass-through businesses, including sole proprietorships, from 39.6% to 15% and makes other major changes to the personal tax system. Find out more http://bit.ly/2qb4MNy
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How to get back in the IRS’s good graces. http://bit.ly/2qbbpQ0
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What are the most tax-advantaged ways to reimburse employees’ education expenses? One option is the working condition fringe benefit. It allows you to exclude reimbursements of job-related education costs from employees’ wages. This means employees don’t have to pay tax on them and you don’t have to withhold income tax or withhold or pay payroll taxes on them. Another option is an educational assistance program, which allows the same tax treatment but can also cover reimbursements for non-job-related education up to $5,250 annually. Contact us to learn more. http://bit.ly/2pb7dlI
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You nonprofit can’t afford to make these five common financial and bookkeeping errors. http://bit.ly/2pORgxW
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You're probably familiar with 529 college savings plans. But are you aware of a lesser-known cousin, established under Section 530 of the code? It's called a Coverdell Education Savings Account. 

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No business should rely on luck to avoid a cyberattack. One area to consider is your employees. You might assume that only an outsider would, say, steal sensitive data or disable your website. But these crimes are often inadvertently caused or intentionally committed by employees. Train managers to review job applications with cybersecurity in mind. Also, clearly state your cybersecurity policies in your employment handbook, so all employees know your guard is up. Although most workers are honest, all it takes is one mistake or bad apple to cause a disaster. http://bit.ly/2oRStYl
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Don’t take receivables at face value. It’s also critical to evaluate their quality. 

Nonprofit organizations are required to file annual reports with the IRS. Organizations with gross receipts of $50,000 or less can file an e-Postcard instead of the longer Form 990. The deadline for nonprofit filings is the 15th day of the fifth month after their year-end. For calendar-year organizations, the filing deadline for 2016 reports is May 15, 2017.

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The latest on how much the U.S. government and American households owe. http://bit.ly/2oRQ5km
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If you have a tax refund coming, consider investing it in your future. 
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