A Medicare Supplement Plan is something everyone age 65 and older will need unless you are still working and are still on a group coverage plan that is offered through your employer. In some cases, a Medicare plan may be a better option even if you have access to group coverage. This year, Medicare Supplements will be changing greatly and there are some things you and/or your eligible family members should know: Open enrollment happens every year from October 15th to December 7th. This is when you can either enroll in a Medicare Supplement Insurance Plan or change your existing plan. There are many different Supplement Plan options and just as much confusion about those plan options this year. By now, most people have Read More...
Microsoft Dynamics GP Fiscal Year End Close
As Fiscal Year Ends are approaching, Christianson’s System Solutions Team often gets questions related to closing the year in Microsoft Dynamics GP. Do we have to wait to close the year until we get final audit adjusting entries entered? No – Depending on your Financial Series setups, you can still go back to the last period of the FY to make final adjusting entries and GP will automatically update the Retained Earnings and BBF as needed. Should we create a 13th period to identify audit adjustments? No – creating a 13th period is not a recommended process in GP, as it can cause issues with Fixed Assets and some Financial Statement reporting. A better option would be to create additional Source Documents for journal Read More...
Successful Business Series
Join us for the Successful Business Series which is an educational series based on feedback from a survey conducted in early 2017 by the Willmar Lakes Area Chamber of Commerce. This survey asked Chamber members: What part of your business offers the most challenges and what can we do to help? Through those responses and a partnership between Christianson, the MinnWest Technology Campus, and the Willmar Lakes Area Chamber of Commerce, this Successful Business educational Series was born. Who Should Attend This Series Business Owners Business Enthusiasts Learn More To learn more about these sessions (venue, speakers, panel topics, etc...), click on the links below: Session 1: Finding the RIGHT People for Your Read More...
Wayfair Decision & Sales Tax Update
On June 21, 2018, the U.S. Supreme court ruled that physical presence is not required for sellers to be responsible for sales tax collection. Previously, businesses were only required to collect sales tax in states where they operate physically. Each state determines their own threshold and transaction amounts at which a collection requirement applies. Beginning October 1st (monthly and quarterly filers) or January 1, 2019 (annual filers) Minnesota will require all Minnesota sellers, regardless of their location, to collect local sales taxes based on the location of their customer. Local sales taxes must be collected on all sales made in a local taxing area that are subject to Minnesota state sales tax. Sellers should charge sales tax Read More...
There’s a New Employer Tax Credit for Paid Family and Medical Leave
There's a New Employer Tax Credit for Paid Family and Medical Leave Available for 2018 and 2019. The IRS announced today that they have published detailed guidance regarding the new Employer Credit for Paid Family and Medical Leave for tax years 2018 and 2019 enacted by the 2017 Tax Cuts and Jobs Act. Eligible employers who provide paid family and medical leave to their employees may qualify for the credit. In addition, eligible employers who set up a qualifying paid family leave program or amend an existing program by December 31, 2018 will be eligible to claim the credit retroactive to the beginning of the employer’s 2018 tax year for qualifying leave already provided. Wages paid by third party payers such as insurance companies Read More...
Talent and Technology Workshop – August 13, 2018
Christianson’s Dustin Kotrba is an active member of the Willmar Economic Development Commission’s Ag and Renewable Energy Development Committee. Last year, this group conducted a survey to establish the primary pain points of farmers and agricultural producers in our area. The results of this survey have outlined this year’s Talent and Technology Workshop which will take place one week from today (August 13th). The goal of this workshop is to help our progressive farm managers grow smarter and stronger. It features two dynamic sessions on talent and technology. To register, click here. Agenda 7:30 – 9:30AM | Attracting, retaining and managing your ag labor workforce. Plus, the latest changes to the employment regulatory Read More...
National Biodiesel Board Drops Support for Producer’s Credit
National Biodiesel Board Drops Support for Producer’s Credit The National Biodiesel Board – the biggest U.S. biodiesel lobbying group – has decided to no longer push to convert a $1 per gallon tax credit available to biofuel blenders into one for producers. The National Biodiesel Board had previously made efforts to change the credit to benefit the biodiesel producers it represents, their reasoning that the credit was originally intended to support the domestic industry, and some blenders benefitting from the credit were importing millions of dollars of foreign biodiesel. A recent successful trade case versus Indonesia and Argentina has helped to stop biodiesel imports being sold below fair market value and the change Read More...
RIN Attest Deadline Modified per EPA
RIN Attest Deadline Modified per EPA At Christianson, we want to keep you in the loop with all of the required information you should know to ensure you remain compliant. We received word this weekend from the Environmental Protection Agency (EPA) that their Central Data Exchange (CDX) (the Agency's electronic reporting system) will be down on June 1 (the RIN Deadline) starting at 9pm EST and will remain down throughout the weekend. This is important because rather than having until midnight on June 1 to complete your RIN attest, Q1 quarterly reporting and producers’ RFS0901 report, ALL will have to be done and submitted by 9pm EST. This is a big change that impacts many of our clients, and every one of the RIN attest contributors Read More...
A New twist on an old phone scam
IRS is warning taxpayers of a new twist on an old phone scam The IRS is urging taxpayers to remain alert to tax scams year round, but especially immediately following the tax deadline. The Internal Revenue Service is warning taxpayers that criminals are now using a new twist on an old phone scam where criminals use telephone numbers that appear to be IRS Taxpayer Assistance Center (TACs) numbers to trick taxpayers into paying fictitious tax bills. In this newest phone scam, criminals call claiming to be from a local IRS Taxpayer Assistance Center. The scammers have programmed their computers to display the TAC telephone number, which will appear on the taxpayer’s Caller ID. When the taxpayer questions the legitimacy of the call, Read More...
College Savings – What do I do?
What Are The Best Vehicles To Save For College? A college education can be one of the most important investments you ever make. But the benefits of your child's increased earning power and expanded horizons come at a price — college is expensive. Many families finance a college education with a combination of resources, but your savings are the cornerstone of any successful college funding plan. So it's important to start saving as soon as you can. For 2017/2018, average costs for tuition, fees, room, and board are: $20,770 — public college $46,950 — private college (many private colleges cost substantially more) Source: College Board, Trends in College Pricing 2017 Where should you put your college savings? There are many Read More...
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