Our 2016 Furniture Insights Survey results are in! December was a good month for many of the participants in our survey of residential furniture manufacturers and distributors. New orders in December were up 11 percent over December 2015.
2017 is a big valuation year for property taxes in North Carolina, with several Triad counties up for revaluation. There is a window of opportunity for businesses that own real property in the counties mentioned below to appeal their 2017 value and realize potentially significant savings. The optimum time to appeal is within thirty days of receiving your 2017 valuation.
Smith Leonard PLLC continues growth in talent and resources as they announce promotions and intern hires for 2017. In addition to several recent new hires, the Smith Leonard management group has seen three promotions in the tax department.
The Internal Revenue Service is warning about the growth of a W-2 email phishing scam in which fraudulent emails are sent to human resources departments seeking information about employees’ tax data. The scam is now targeting schools and other organizations in addition to for-profit companies, according to the IRS.
Following a 14 percent increase in new orders in September 2016 versus September 2015, the results of our latest survey of residential furniture manufacturers and distributors fell back in line with expectations based on most conversations we were hearing in October. October 2016 new orders were up 1 percent over October 2015. October 2015 orders were 1 percent higher than 2014. Year-to-date, new orders remained 2 percent higher than the same period a year ago.
File Required Tax Forms on Time to Avoid Penalties: There is a new due date of January 31, 2017 for W-2s, W-3s, and Forms 1099-MISC which are being filed to report non-employee compensation in box 7. All other Forms 1099-MISC are due by February 28, 2017.
The most recent edition of the EBP Commentator discusses key issues including significant proposed revisions for Form 5500, HIPAA audits and your health plan’s readiness, changes to the determination letter program, trends in employee stock ownership plans, new reporting guidance, expanded PBGC missing participant program, increases in certain ERISA civil penalties, and 2016 tax return due date changes and impact on retirement plan contribution dates.
The latest edition of BDO’s Real Estate and Construction Newsletter features key topics including top tax issues impacting the real estate industry, uncertainty after Brexit vote, big data’s impact on REITs, global real estate trends, timeshares and hotels in today’s sharing economy, and the changing lending landscape in private equity.