2016

Keep an Eye on the ACA Rules and Potential Changes

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Are your employees enrolled in a health care plan? Here’s something to consider in your planning: Late in 2015, Congress delayed implementation of a significant tax on high-cost employer-sponsored insurance plans — called the “Cadillac tax” — from 2018 to 2020. Under this rule, when the value of a health plan is more than $10,200 for individual coverage and $27,500 for family coverage, the plans face a 40% tax on the excess amount, but businesses now won’t have to face that concern for a couple more years. Even with this delay, it’s worthwhile keeping this potential tax on your radar screen.

Also, if your company was not subject to the Affordable Care Act for 2015, be aware that the thresholds changed dramatically for 2016. An organization becomes an Applicable Large Employer (ALE) when it employs an average of 50 or more full-time and full-time-equivalent employees on business days during the calendar year. ALEs must provide certain employees with health insurance that meets specific standards, or face significant penalties.  If you have any questions, please contact your Linkenheimer CPA.

By |December 7th, 2016|affordable care act|0 Comments

Don’t Fall for the IRS Scams Out There

Scammers, claiming to be IRS agents, threatening arrest and jail time if you don’t pay them immediately for overdue “balances” are on the rise. If you haven’t received a call yourself, chances are you will at some point or you know someone who has. and unfortunately, these scams will probably continue and increase over time. Now, it might be daunting to receive a phone call from John Smith at the IRS office, claiming the cops are on your way to your house to arrest you if you don’t make an immediate payment over the phone to them, but rest easy knowing that a) the IRS isn’t going to call you (they are old school), you’ll get a letter in the mail or maybe a fax, and b) they aren’t going to send you an email demanding payment (see https://www.irs.gov/uac/irs-and-security-summit-partners-warn-of-fake-tax-bill-emails ).

To read an interesting story about one person, who worked his way through the cycle of the IRS phone scams to get answers: http://www.vox.com/first-person/2016/10/18/13276464/irs-scam-phone-cartoon

See what the IRS has to say on the continuing issue of phone and email scams:

https://www.irs.gov/uac/newsroom/phone-scams-continue-to-be-a-serious-threat-remain-on-irs-dirty-dozen-list-of-tax-scams-for-the-2016-filing-season

Stay vigilant and if you ever have questions about an email or phone call you’ve received, feel free […]

By |November 15th, 2016|irs|0 Comments

LINKENHEIMER JOINS PROFESSIONAL FIRM LEADERS IN LONDON FOR ALLIOTT GROUP 2016 WORLDWIDE CONFERENCE

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LINKENHEIMER JOINS PROFESSIONAL FIRM LEADERS IN LONDON FOR ALLIOTT GROUP 2016 WORLDWIDE CONFERENCE

Santa Rosa, CA, 17 October 2016 – Linkenheimer LLP is this week (18-22 October) attending an international conference in London focused on subjects critical to winning, servicing and retaining clients with multi-market business interests. Alliott Group’s Worldwide Conference will be attended by 150 leading professional advisers from 76 independent, owner managed firms located in 36 countries.

Hosted by Alliott Group, an award-winning international alliance of independent, mid-market accounting and law firms, the conference provides attendees from local firms all over the world with access to knowledge and professional contacts that enable them to service more efficiently commercial and private clients who need assistance in multiple geographic markets.

During the four day conference, speakers will include representatives from the Bank of England, the Department for International Trade, the Confederation of British Industry, Meridian West and Farnham Castle Intercultural Training.

The program will equip attendees from Linkeheimer, as well as the managing and senior partners from other Alliott Group member firms, with not only the required technical and professional skills to serve clients across borders, but to also the development of a ‘global mindset’ that […]

By |October 19th, 2016|alliott, Community|0 Comments

Congratulations to Our Friends for Their Latino Leadership Awards

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Community involvement is one of the reasons Sonoma County is so special. With over 1,300 registered non-profit agencies that generated over $1.2 billion dollars and employs 16,000 people, it’s easy to see why we live in one of the most charitable counties in the United States. And people like Willie and Carlos Tamayo, David Ortega, Octavio Diaz and Marco Lepe are models of that community first, give back attitude. We are proud to see our friends and clients recognized and honored by the North Bay Business Journal with their 2016 Latino Business Leadership Award.

You can view the complete list here.

By |October 18th, 2016|Community|0 Comments

New Overtime Rules are Changing on December 1st. Are You Ready?

Earlier this year new overtime rules were published modifying the regulations under the Fair Labor Standards Act (FLSA). The rulings may impact the way your business clients classify and compensate their employees. As many as 4.2 million workers may need to be reclassified as a result of this change, and businesses must be in compliance by December 1, 2016.

What has changed.
The minimum salary requirement for certain employees to be considered exempt from the FLSA’s overtime requirements will increase from $23,660 to $47,476 annually (or from $455 to $913 weekly).

If you or your clients have exempt employees earning less than $47,476 per year, you may need to increase their salary or reclassify them as non-exempt and pay them overtime when due. If you have any questions, please contact your Linkenheimer LLP CPA.

By |October 3rd, 2016|federal, law|0 Comments

Linkenheimer Wins Best Place to Work for 6th Straight Year

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Linkenheimer LLP CPAs & Advisors is honored to once again be named one of the Best Places to Work in the North Bay for 6 years in a row. We realize that our people are the key to our companies success so we strive to create the best environment for them. Our focus on internal culture results in the best possible team approach to developing positive financial solutions. Linkenheimer also supports our team’s dedication to our local community through rotary memberships, non-profit boards and community service, in which over 900 hours a year are committed to bettering the community we call home. In addition, our firm actively supports free mobile eye care clinics and the construction and staffing of a surgery center in the remote San Juan River region of Nicaragua. Your support of Linkenheimer helps provide eye care and advanced diagnostic and surgical capacity in a region where these services do not exist for the 26,000 inhabitants. We’re a local business making a global impact with the help of our clients.

About Us

Mission:

Linkenheimer’s mission is to be a partner in our client’s success. We focus on our […]

By |September 12th, 2016|best place to work|0 Comments

Linkenheimer Wins Gold from North Bay Biz for Best Accounting Firm for 2016

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Linkenheimer is honored to win the Gold Medal from the North Bay Biz for Best Accounting Firm in the North Bay. This is the 7th time we’ve received this honor in the past 11 years and it’s truly a testimony to the amazing team we have here, our clients who trust us and the community we serve.  We feel our people are our greatest asset and we strive to create a fun, positive, team based work environment that results in quality work for the client.

“We work towards partnering with our clients and we appreciate the support and kind words from our friends and community.” -Mike Musson

“We appreciate the vote of confidence from our clients and friends in the North Bay. It is an honor to be in practice in such a wonderful community.” -John Jones

“We are incredibly grateful to be part of such an extraordinary community, have an amazing team, and have the pleasure of working with our clients.” -Carli Ortiz

From the NorthBay Biz:

Congratulations, once again, from NorthBay biz for being a 2016 award winner in our 26th annual readers poll. We received more than 2,500 ballots containing 55,000+ votes in the 40 different […]

By |May 31st, 2016|award|0 Comments

IRS Reminds Employers of Approaching ACA Information Reporting Due Dates:

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The IRS is encouraging self-insuring employers and Applicable Large Employers (ALEs) to mark their calendars to ensure they meet the new ACA reporting requirements. Self-insuring employers that are not ALEs must provide Form 1095-B (Health Coverage) and ALEs must provide Form 1095-C (Employer-provided Health Insurance Offer and Coverage) to employees by 3/31/16. These forms, plus their related transmittal forms, must be filed with the IRS by 5/31/16, if filing on paper, or 6/30/16, if filing electronically.

If you have any question, please contact your Linkenheimer CPA at 707-546-0272.

By |March 8th, 2016|affordable care act|0 Comments

Standard mileage rates will go down in 2016

Optional standard mileage rates for business use of a vehicle will go down beginning  January 1st, 2016, the IRS announced on Thursday. For business use of a car, van, pickup truck, or panel truck, the rate for 2016 will be 54 cents per mile, compared with 57.5 cents in 2015. Taxpayers can use the optional standard mileage rates to calculate the deductible costs of operating an automobile.

STANDARD MILEAGE RATES

  • The standard mileage rate for transportation or travel expenses is 54 cents per mile for all miles of business use (business standard mileage rate).
  • The standard mileage rate is 14 cents per mile for use of an automobile in rendering gratuitous services to a charitable organization.
  • The standard mileage rate is 19 cents per mile for use of an automobile (1) for medical care described in § 213, or (2) as part of a move for which the expenses are deductible.

BASIS REDUCTION AMOUNT For automobiles a taxpayer uses for business purposes, the portion of the business standard mileage rate treated as depreciation is 23 cents per mile for 2012, 23 cents per mile for 2013, 22 cents per mile for 2014, 24 cents per mile for 2015, and 24 […]

By |December 18th, 2015|mileage|0 Comments