IRS Phone Scams Warning

IRS Updates Phone Scams Warning The IRS is again warning the public about phone scams that continue to claim victims all across the country. In these scams, thieves make unsolicited phone calls to their intended victims. Callers fraudulently claim to be from the IRS and demand immediate payment of taxes by a prepaid debit card […]

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Employee or Subcontractor & Obamacare

Firms with 100 or more full-time employees in 2015 must offer a reasonable level of affordable insurance to their full-time employees or large penalties will be due.  Business with 50 to 99 full-time employees have until 2016 to comply with the pay-or-pay rules.  Reclassified workers can put a small firm over the limit of allowable […]

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Understanding Your Value In Business

I had a great discussion with a client yesterday.  It revolved around her new business venture and how her clients were perceiving her rates and fees.  It reminded me  of a conversation I had with my father (the founder of our company – who worked in sales for 30 years before he started BMC) many […]

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How can my payroll taxes not be paid? – I hired a payroll company

Many local businesses are finding that their payroll company has not been paying their federal and state payroll taxes.  How can this happen?  Most companies in the payroll processing industry follow a practice called impounding.  As payroll taxes are accrued with each pay, the payroll company transfers the cash from the clients account into their account […]

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Payroll Upgrades

BMC continues to upgrade our payroll systems and software.  Available now at no additional charge you can view and print historical reports from previous pay periods at no additional charge.  For a small monthly fee you can give your employees access to prior pay stubs, W2’s etc.  These are secure portals with encrypted data.

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Obamacare – what it means now

We are beginning to see the effects of Obamacare on our personal and business taxes in 2013.  One of the biggest impact will be for taxpayers earning more than 200K(Single) and 250K(Married).  Individuals in those tax brackets could be subject to an increase in the Medicare tax of 3.8% on passive income (interest, rent, capital […]

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Maximizing Retirement Options

In a meeting with a doctor the other day we saw an opportunity for him to maximize his retirement contributions far beyond his 401k limits in his hospital job.  He pays his wife who works in his family practice as the office manager and assistant.  We setup a Simple IRA account for the company which […]

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The up side of a down economy

I met with a client today about his business.  As we looked back at the last year or two and the many meetings we have had, he reflected on the value of learning how to make his business lean.  He was excited about seeing how his leaner/meaner business would create profits as the economy improves.  […]

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