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2019 Tax Filings

October 31, 2019

As the end of the calendar year draws near, which for most of our clients is also the end of their fiscal year, it is time to consider tax planning moves to minimize your tax burden and prepare for the upcoming tax filing season.  

The Tax Cut and Jobs Act of 2017 created certain tax planning strategies that you should discuss with your tax advisors.  For example, if you’ve acquired or placed into service new assets in 2019 discuss whether you can take 100% first-year bonus depreciation on those assets. If your business doesn’t yet offer a retirement plan you might consider establishing one. Current rules allow for significant contributions to retirement plans that reduce current year taxable income. This can be offered in addition to other fringe benefit plans for employees that can reduce your and their tax burden. Consider whether you have any Qualified Research Expenses that would permit you to take advantage of a research and development tax credits.  Finally, consider whether you may benefit from prepaying 2020 expenses before the end of 2019.

TABS can help coordinate with your tax filing. We offer a tax liaise service if you want us to coordinate with your CPA. Contact us.

Individual coverage health reimbursement arrangements for health plan coverage.

October 31, 2019

With the Healthcare Open Enrollment season approaching for most employers, coming in 2020 there is a new option (especially for small employers) that many are calling “a game changer for health insurance coverage”.

 

To help TABS clients understand and navigate the constantly changing world of health care insurance plan options TABS is here to help guide you with this new (and exciting!) choice for health care and, if interested, we can provide you with more detailed information to help you make informed decisions for your business and employees as well as administrative services to set up this plan and notifications and attestations for your employees.

Get inspired: An interview with Dennis Tan, CEO and Co-Founder of Dashmote

October 31, 2019

Dashmote is all about helping people to get the most out of their data. For example business professionals, working in sales/marketing, who want to work with data but don’t have all necessary resources to do so. Dashmote created a platform that gives the end users more control over their data. 

 

Read all about it in our inspiring interview with Dennis.

What's in a name? An article by Annette van der Feltz- Expatriate Assistance

October 31, 2019

What’s in a name? If you are moving to the US on a work visa – the answer to this question could be: a lot! 

When moving to the US, getting your name registered correctly, and understanding how the various government agencies determine your first, middle, maiden and last name, is crucial to a smooth settling in process.

It is one of those trivialities expats tend not to think of when moving here. However, getting it wrong can have a significant impact and result in a lot of frustration and repeat visits to various government agencies.

 

Annette van der Feltz is a relocation agent who helps make the foreign familiar for expats moving to the USA and guides them through the necessary bureaucracy as part of the settling in process. 

Rabobank – Mechanics Bank merger

October 31, 2019

The strategic merger of Rabobank, N.A. (Rabobank’s retail bank in California) and Mechanics Bank was completed in 2019. In line with Rabobank’s ‘Banking for Food’ strategy, Rabobank N.A. was sold to Mechanics Bank, while its food and agri activities were retained by Rabobank Group.

 

This merger brought together two community-oriented, well-capitalized banks with common values and deep roots in California. Offering even greater strength, stability and convenience for their clients, the combined bank is uniquely positioned to be the premier community bank in the communities they serve.

2019 End of year TAX preparations

September 12, 2019

As the deadlines to file 2018 taxes on extension approach (15 September for partnerships and disregarded corporations and 15 October for other corporations), it’s not too early to begin preparing for next year’s tax season.  Below is a list of important tax deadlines for businesses in 2020.

You should note that the first deadline is January 31, 2020. This is the date by which your employees need to be provided with their W-2’s and contractors or vendors to whom you have paid more than $600 need to be provided with 1099’s. 

Human Resources Compliance

September 12, 2019

We recently informed clients who have retained TABS for their HR and payroll needs of the obligations during the Onboarding process for new employees and provided links of the mandatory forms and notices in regard to federal, state and local jurisdictions that are required to be distributed to your employees upon hire. 

 

With the TABS Compliance Library, we will continuously keep clients with HR service informed of the ever-changing landscape in employment law as they are enacted for each state and in many cities in California, New York, Illinois and Texas, to name a few, where specific local ordinances often exceed the state requirements concerning employee’s rights. Here are examples of some of the most recent changes – with links provided – in employment laws:

We are looking for you!

February 01, 2019

We are currently hiring a dynamic junior bookkeeper at TABS Inc. Do you want to join our team?

 

Please follow this link for more information about the junior bookkeeper vacancy.

new requirements to improve the safety of human and animal foods in the US

July 13, 2017

The FDA Food Safety Modernization Act (FSMA), enacted on January 4, 2011 has added many new requirements to improve the safety of human and animal foods in the US.  Among the regulations issued by the FDA to implement the new FSMA requirements the most important regulation for food importers is the new Foreign Supplier Verification Program  ( FSVP). 

Carmen Munoz is our certified FDA and FSMA specialist. Please contact her on carmen@tabsinc.com for all your questions regarding these topics. 

Trump maakt ondernemen lastiger voor immigranten

July 12, 2017

Donald Trump, de president van de Verenigde Staten, maakt het voor buitenlandse ondernemers lastiger om een visum te kunnen bemachtigen om in de VS aan het werk te gaan. Dit doet hij door een plan van voormalig president Obama te blokkeren. Als hij dit heeft gedaan, wil hij het moeilijker maken voor immigranten om de grenzen van de VS binnen te komen.

New York Paid Family Leave

June 28, 2017

On April 4, 2017, Governor Andrew Cuomo signed the Nation's first 12-week Paid Family Leave Law ("PFL"), which provided wage replacement to employees to help them bond with a child, care for a close relative with a serious health condition, or help relieve family pressures when someone is called to active military service. Employees are also guaranteed to be able to return their job and continue their health insurance. 

Zit Amerika wel te wachten op jouw product of dienst?

June 12, 2017

Op zoek naar the American Dream voor jouw product? De Verenigde Staten zijn een enorm land met grote verschillen. Begin daarom klein, met niet meer dan één staat of regio. In een artikel van MT vertelt Jacob Willemsen wat er bij komt kijken om naar de Verenigde Staten te gaan met een bedrijf.  

NEW I-9 FORM starting January 22nd, 2017

January 10, 2017

For all TABS clients employing in the United States: Update to the I-9 form, Employment Eligibility Verification; U.S. Citizenship and Immigration Services (USCIS) has released a new version of Form I-9. Federal Law requires every employer to have new hires fill out the I9 form that shows they are authorized to work in the United States.

 

Beginning January 22nd, 2017 employers must use only the latest version.                         

The latest version is found on https://www.uscis.gov/i-9

Tax Season is coming soon!

January 10, 2020

Please be aware that the Federal Corporate Income tax filing deadline for most corporations is March 15th, 2019. You should get a head start on preparing the filings and contact you CPA as they will be busy the coming months. Even if you are filing for an extension the deadline to do so is still March 15th ,2019. If you need help or assistance in bookkeeping preparing the filings TABS is happy to assist. Please contact Wendy Zeilstra at wendy@tabsinc.com sooner than later. The actual filings will however always have to be done via your CPA. Please note that TABS does not file the actual taxes. 

Buitenlandse firma stuwt omzet bedrijfsleven

January 01, 2020

De omzet van het Nederlandse bedrijfsleven blijft voor een groot deel afhankelijk van de opbrengsten van bedrijven die vallen onder buitenlands zeggenschap. Van iedere euro die hier wordt omgezet, komt ongeveer 37 eurocent toe aan een onderneming met een moederbedrijf buiten onze landsgrenzen. Dat schrijft het Centraal Bureau voor de Statistiek (CBS) vrijdag in een rapport.

Ellis Faas Make not War

October 24, 2016

TABS is proud to support a great initiative by Ellis Faas for War Child Organization to donate €1 to War Child Organization for each t-shirt sold through ELLISFAAS.com between now and October 31st, 2016

To purchase your own t-shirt, please click here.

Podcast De Oversteek: zo is het om als ondernemer in de VS te leven

February 28, 2019

In de derde aflevering van de podcast De Oversteek onderzoekt Koos Tervooren hoe het is om als expat in de Verenigde Staten te leven. Waarom is het zo moeilijk om een bankrekening te openen? En wat regel je als werkgever voor expats?

Podcast De Oversteek: zo speel je de baas in de VS

February 21, 2019

Is je bedrijf eenmaal geland in de VS, hoe speel je dan ‘de baas’? En waarom zouden Amerikanen voor jouw bedrijf willen werken? Je hoort het in de nieuwste aflevering van De Oversteek, de podcast over ondernemen in de VS. 

March 21, 2019

Nederlanders en Amerikanen lijken minder op elkaar dan je soms denkt. Dat hoor je in de nieuwste aflevering van de podcast De Oversteek, waarin ondernemers en experts hun belangrijkste lessen delen over ondernemen in de VS.

Podcast De Oversteek: creditcards en cheques; zo doe je zaken in de VS

March 14, 2019

Hoe zorg je ervoor dat je in de VS je product aan de man brengt, dat klanten geld overmaken en dat je een lening krijgt? Oftewel, hoe doe je er zaken? Dat hoor je in de vierde aflevering van De Oversteek.'

March 21, 2019

Death and taxes, twee dingen in het leven waar je zeker van kan zijn. Maar vergeet ook niet verzekeringen, daar ontkom je door de Amerikaanse claimcultuur niet aan. In deze aflevering van de podcastserie De Oversteek hoor je alles over belastingen voor ondernemers en hoeveel je moet betalen aan zorgverzekering voor werknemers.

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