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Michael Davis

Brickley DeLong PC named a 2013 All-Star and Fasting Growing Firm

MUSKEGON, Mich. (November 1, 2013) Brickley DeLong PC has been named both a 2013 All-Star Firm and a 2013 Fastest-Growing Firm, according to INSIDE Public Accounting (IPA), a national publication serving the accounting profession.

These firms,selected solely on their performance in specific areas, are compared with more than 500 participating firms in the IPA Annual Survey and Analysis of Firms.

“We explore profitability from several perspectives to provide a view of how firms at the top of the profession are performing,” said Kelly Platt, principal of the Platt Group and managing editor of INSIDE Public Accounting. “The IPA All-Star Firms are the best at what they do, be it health care consulting, litigation support, employee benefits or another specialty niche.”

“It is an honor that Brickley DeLong made this prestigious list as well as to be recognized for our exceptional growth,” said Timothy Arter, CPA managing partner of the firm.  “Our continued growth is attributable to our emphasis on being our clients’ most trusted advisor.  The opening of our Grand Rapids office and expansion of services throughout West Michigan has fueled our growth.”

About Brickley DeLong

Brickley DeLong is a full-service public accounting and business consulting firm. They have been serving the West Michigan community for over 38 years. What began with just four employees and a handful of clients has steadily grown into one of the area’s leading independent CPA firms with more than 45 dedicated team members and over 5,500 clients. Originally with one location in Muskegon, the firm expanded and added an office in Hart. Further growth brought forth a 2011 merge with Vereecke Simescu and Associates and a Grand Rapids office. Now serving seven counties throughout West Michigan, Brickley DeLong professionals assist clients of every size in diverse industries.

About The Platt Group and INSIDE Public Accounting 

INSIDE Public Accounting (IPA), founded in 1987, is published by The Platt Group. The Platt Group publishes both the award-winning INSIDE Public Accounting newsletter and the award-winning National Benchmarking Report. The Platt Group also advises, consults and helps firms move to a more successful level. With more than 26 years of independent reporting and more than 23 years of surveying and benchmarking experience, The Platt Group works with managing partners, CFOs and thought leaders across the nation to provide practical ideas, benchmarking data and information to take firms to the next level of improvement.

 

Tax Tips for Small Businesses

“American University professors Donald Williamson and David Kautter have created a list of “Tax Practices for Small Businesses,” a checklist designed to help small businesses entrepreneuers stay up to date on all tax related issues, and away from the scrutinity of the IRS.” (Accounting Today, Oct. 2013)

See article below from Accounting Today for the full list.

20 Tax Tips for Small Businesses

Tax Planning for Businesses as Year-end Approaches

Form 8955-SSA Penalties Assessed in Error

IMPORTANT:

“Approximately 4,000 plan sponsors received erroneous CP 283C, Notice of Balance Due for Incomplete/Late Penalties for their Form 8955-SSA, Annual Registration Statement Identifying Separated Participants with Deferred Vested Benefits. These erroneous notices were dated between July 28 – August 26, 2013.”

For more information: http://www.irs.gov/Retirement-Plans/Form-8955-SSA-Penalties-Assessed-in-Error

Internal Training Key to Improving Performance at Nonprofits

“It comes as no surprise that nonprofits have a continual pressing need for money, but some of the potential solutions to that challenge might be as easy as providing for internal staff training needs and reducing turnover.”

– See more of the article by Jane C. Simons at: http://mibiz.com/news/nonprofit-business/item/20727-gvsu-study-finds-internal-training-key-to-improving-performance-at-nonprofits

If You Have an Employer-Sponsored Health Plan You May Be Subject to New Fees…read on

The Affordable Care Act imposes fees on issuers of specified health insurance policies and plan sponsors of applicable self-insured health plans to help fund the Patient-Centered Outcomes Research Institute.  The fees, required to be reported annually on the 2nd quarter IRS Form 720 and paid by its due date, July 31st, are based on the average number of lives covered under the policy or plan.  If you need assistance in determining if this legislation applies to your health insurance plan or HRA, please contact your Brickley DeLong account administrator directly or call 231-726-5800.

Click on the link for additional Q&A

http://www.irs.gov/uac/Patient-Centered-Outcomes-Research-Trust-Fund-Fee:-Questions-and-Answers

Movies on the Beach

The second annual Movies on the Beach at Pere Marquette Park in Muskegon begins on June 28. Pre-movie music by The Other Brothers will begin at 8:00pm, and the movie, “Indiana Jones and the Raiders of the Lost Ark”, will being at 9:30pm. The event is free; however, donations will be accepted for the rescue mission. If you have not come in the past, it is a fun community event for the whole family. For more information on Movies on the Beach, check out their Facebook page Movies On the Beach

We hope to see you there!

MOTB June poster

Reminder of 4 major health care issues that hit consumer wallets in 2013

Below are the common health care issues that have hit consumer wallets in 2013 and will also carry over as health care issues well into 2014.

  1. Individual taxpayers are allowed to deduct medical expenses on their IRS Form 1040 to the extent the costs exceed 10% of their adjusted gross income (up from 7.5% in previous years).
  2. Flexible Spending Accounts face a new federally imposed $2,500 annual cap effective for 2013.
  3. Additional Medicare tax for high-income employees began in 2013.  The Medicare tax rate will be increased by .9% on an individual earning over $200,000 and $250,000 for married couples filing jointly.
  4. New Medicare surtax on unearned income also began in 2013.  A 3.8% surtax called the Unearned Income Medicare Contribution will be imposed on the net investment income of individuals, estates or trusts.  The surtax is on the lesser of net investment income or adjusted gross income of an individual earning over $200,000 and $250,000 for married couples filing jointly.

 

Net investment income includes interest, dividends, royalties, rents, gross income from a trade or business involving passive activities and net gain from disposition of property (other than held in a trade or business).

 

Brickley DeLong 5/3rd River Bank Run Team

History of the 5/3rd River Bank Run:  When Frank Cashman from the Grand Rapids Track Club approached Marty Allen, then Marketing Director for Old Kent Bank, in the mid 1970s about initiating a local road race, Allen was intrigued. Cashman worked out what he felt was the perfect distance, a 25K that started and finished in downtown Grand Rapids and Allen pledged the funding. In 1978, just over 1,000 runners took to the streets on the second Saturday of May for the first annual Old Kent River Bank Run.  In 2001, Old Kent Bank merged with 5/3rd Bank, and the race was renamed to showcase its new owner and called the 5/3rd River Bank Run.

This year, we decided to put together a 5K Team for the 5/3rd River Bank Run. There were 9 employees from Brickley DeLong that ran the 5/3rd 5K and one ambitious employee who ran the 5/3rd 25K (Patrick Mutchler).

 

Andrea, Anne, Paul, Sharon, Ed, Ann, Chris and Kirk

Sharon and Ann

Anne and Ann

Mark and his wife Jennifer with Ronald McDonald

Ann, Anne, Chris, and Sharon

Affordable Care Act Features & Changes By Year

On March 23, 2010, President Obama signed the Affordable Care Act. The law puts in place comprehensive health insurance reforms that will roll out over four years and beyond. The Affordable Care Act was put into place to ensure any and all residents of the United States qualify and receive medical health insurance.  The Affordable Care Act has had some changes so please see the link below for an interactive timeline of changes from 2010-2014.

http://www.healthcare.gov/law/timeline/index.html