Virginia Tax

Virginia Taxes

New electronic payment requirement for some individual income taxpayers The 2017 Budget Bill includes a new requirement for certain tax payments. Effective for taxable years beginning on or after Jan. 1, 2017, taxpayers who make estimated tax payments must submit all of their income tax payments electronically if: • Any installment payment of estimated taxes…

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Video Series

CPA Secrets to a Better Business

WellsColeman kicks off Friday Feature video series on CPA Secrets to a Better Business. (Week 1) Friday Feature: This week’s theme is Acquiring Financing.  Are you making the right decisions when it comes to seeking financing? Check out our latest video in the series to learn more. Acquiring Financing – Series Video #1 (Week 2)…

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Winter 2017 – Alliance Newsletter

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Year-End Tax Planning

Year end tax planning

Upcoming Changes to Filing Deadlines and New Overtime Provisions Beginning January 1, 2017, several new filing deadlines will go into effect. The IRS’s goal of these new deadlines is to create a more logical flow of information and help you file more accurate and timely returns. Avoid missing deadlines by making a note of the dates that…

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Way to Go WellsColeman

The Best Accounting Firms to Work For 2016

Firm Congratulations!  WellsColeman is proud to announce that the firm has been selected for the 2016 Accounting Today’s Best Accounting Firms to Work for list, which is limited to only 100 public accounting firms nationwide!  According to the AICPA, currently there are over 46,000 public accounting firms in the United States ranging in size from…

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Changes Affecting Qualified Retirement Plans

Retirement savings accounts

Changes Affecting Qualified Retirement Plans With the Internal Revenue Service’s recent release of final regulations on Roth distributions, it might be a good time to summarize the several changes that have been made either through legislation, IRS action, or court decisions affecting qualified retirement plans over the last year or so. Designating Disbursements — In Notice…

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Congratulations to Tonya Futrell

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Honors and Awards Congratulations to WellsColeman partner Tonya Futrell, who was featured in the newest edition of the Journal of Accountancy.  In the article “Coaching programs get new partners off to a great start,” Tonya discusses her participation in a Convergence Coaching leadership program. According to Tonya, “One of the best things about it (the leadership program)…

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Internal Controls

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Keep Your Company on Course with Internal Controls Internal control is defined as “a process for assuring achievement of an organization’s objectives in operational effectiveness and efficiency, reliable financial reporting, and compliance with laws, regulations, and policies.” These controls allow management to: Promote efficiency Reduce risk of asset loss Ensure the reliability of financial statements…

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