At Machen McChesney we are committed to Returning Value to you through our monthly e-newsletter, The Value Report.

Here you'll find regular tips to help with your business and personal finances, as well as strategies to grow and more efficiently run your organization.  

Table of Content

1. How to Report Stock Compensation Paid to Nonemployees.
2. Does It Still Make Sense for Employers to Reimburse Employees' Moving Expenses?
3. There's Still Time for Small Business Owners to Setup a SEP Retirement Plan for Last Year
4. 2019 Adjusted Penalty Amounts for Health and Other Plans
5. Could Your Business Benefit from the Tax Credit for Family and Medical Leave?
6. Audits Home in on Cybersecurity
7. IRS Waives Penalties for Many Taxpayers Whose 2018 Withholdings Was Not Enough.
8. Transparency Is Key with Related Party Transactions
9. 2019 Q2 Tax Calendar: Key Deadlines for Businesses and Other Employers
10. What's New at Machen McChesney

How to Report Stock Compensation Paid to Nonemployees

The accounting rules for reporting stock compensation have been expanded. They now include share-based payments to nonemployees for providing goods and services, under recent guidance issued by the Financial Accounting Standards Board (FASB). Continue reading. 

Does It Still Make Sense for Employers to Reimburse Employees' Moving Expenses?Some employers reimburse new hires for moving expenses when they relocate. Others reimburse existing employees whose jobs are moved to other locations. Maybe you do both. Now that there’s no tax deduction for moving expenses incurred by individuals, and no more tax-free treatment for employer moving-expense reimbursements, you might wonder: Does it still make sense to reimburse employees for moving expense. Continue reading.

There's Still Time for Small Business Owners to Setup a SEP Retirement Plan for Last Year

Could Your Business Benefit from the Tax Credit for Family and Medical Leave?The Tax Cuts and Jobs Act created a new federal tax credit for employers that provide qualified paid family and medical leave to their employees. It’s subject to numerous rules and restrictions and the credit is only available for two tax years — those beginning between January 1, 2018, and December 31, 2019. However, it may be worthwhile for some businesses. Continue reading. 

Audits Home in on CybersecurityIn 2018, U.S. organizations that suffered a data breach lost an average of $7.91 million as a result. That’s the highest average organizational cost of all the countries and regions covered in the 2018 Cost of a Data Breach Study by IBM and independent research firm Ponemon Institute. Malicious or criminal attacks were the source of more than half of those breaches, rather than system glitches and human errors. Continue reading.  

IRS Waives Penalties for Many Taxpayers Whose 2018 Withholdings Was Not Enough.

The Tax Cuts and Jobs Act (TCJA) brought with it many tax changes for 2018. Those changes left many taxpayers unaware of the caps on state and local tax deductions, the elimination of reimbursed job expenses and the suspension of dependency exemptions, just to name a few. To add to the mix, after Congress passed the law, new withholding tables were not available to employers until mid-January and some did not see the switch in withholding until mid-February. Based on all of these changes, taxpayers are finding themselves below the 90% threshold and therefore would have to pay a penalty. Continue reading.

Transparency Is Key with Related Party Transactions

In recent years, external auditors have focused more attention on related party transactions. Although related party transactions aren’t necessarily bad, they do raise some concerns about the risk of misstatement or omission in financial reporting. Continue reading.

2019 Q2 Tax Calendar: Key Deadlines for Businesses and Other Employers

Here are some of the key tax-related deadlines that apply to businesses and other employers during the second quarter of 2019. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements. Continue reading.

What's New at Machen McChesney?

Sponsorships, new hires, announcements
Continue reading. 

We hope you found value in The Value Report you've received this month. We look forward to finding even more ways to Return Value to you in the future.