Ultimate Account Blog

You May Be A Hotelier and Owe Taxes Without Knowing Either

Recently I received a notice from the Pennsylvania Department of Revenue regarding Pennsylvania’s Hotel Occupancy Tax. I was about to toss it in file bin number nine; however, I decided to read the notice in detail, knowing clients I serve may be getting similar communications. Many taxpayers have…

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What You Need to Know About the WannaCry Ransomware Program

  Just days after President Trump signed a much-anticipated executive order on cybersecurity, a massive cyberattack—potentially the largest the world has ever seen, with more than 75,000 ransomware attacks in 153 countries—stole headlines. The “WannaCry” ransomware program hit organizations around the world on Friday, May 12, encrypting computer files…

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2017 Tax Reform May Include Hidden Surprises

  As a decision maker in a multinational organization responsible for deploying employees around the world, you may have been wondering how the proposed tax reform under the Trump administration and current GOP Congress will affect your bottom line. The prospect of lower individual tax rates on the surface may…

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Executive Actions by Trump Administration Cast Doubt on Tax Regulations Impacting Asset Management Industry

Summary On January 20, 2017, the White House chief of staff communicated President Trump’s plan for managing the federal process at the outset of his administration.  As part of this plan, the president’s appointees or designees are to be provided with sufficient time to review pending regulations.  In order to…

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What Does a Tax Return Really Reveal?

As April beckons, thoughts of tax returns are common, not just in accounting firms, but for every person who has to file a return. Many people only think about their returns when they are due and when the topic of tax returns is in the news. The most prevalent…

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Are Your Employees Nonessential?

We finally had the first substantial snowstorm of the year, so we were all subjected to the list of closings and delays on the bottom of local network television. One of the terms that always strike me during these announcements is “nonessential employees.” I realize that the term refers,…

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Don’t slip on the reporting requirements of non-traditional insurance

Lately, the Affordable Care Act and its future have been daily topics in the news, but, for business owners, insurance is almost always forefront in their minds. Whether considering health insurance or workers’ compensation or general liability, trying to manage the costs of necessary insurance while still providing…

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IRS Publishes the 2017 Dirty Dozen List

For the third consecutive year, the Internal Revenue Service has published its Dirty Dozen list of most the prevalent scams taxpayers will face during tax season.   The scams are devious in their methods to separate the taxpayer from his or her money. Learn how to guard against falling prey to these schemes by…

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How Do You Know if a Charity is Legitimate?

Every year, the IRS discloses the 12 scams that it believes taxpayers are most susceptible to. It calls this list the Dirty Dozen and warns the public about these cons on their website. One of the most repeated scams over the last few years has been the imposter claiming…

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Where’s My Refund? – A Helpful IRS Website Tool

The IRS website feature Where’s My Refund? is helpful because it tells taxpayers who filed their returns when they can expect an overpayment deposit or a refund check in the mail. The Internal Revenue Service typically grants refunds on e-filed returns within three weeks and on paper returns in…

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