The Proactive Solutions Blog

2017 Standard Mileage Rates for Business

The Internal Revenue Service today issued the 2017 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.

Beginning on Jan. 1, 2017, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:

Read full post  |  Posted by on 12.13.16


WHATS IT COST

Data on prices has begun to show some consistent lift as the third quarter ended. Demand for construction nationally is pinching labor supply and is giving manufacturers the confidence to test the market with price increases. Consumer prices are nudging above the one percent level and wages are consistently up 2.5 percent or more year-over-year. Yet for all the talk of inflation beginning to trend towards “normal” levels, an examination of year-over-year changes in September shows that prices are more stable overall than in a number of years.

Since 2008, there have been two major swings in the price of oil and energy that have induced big deltas in the prices of oil-related or energy-intensive materials. October marked two full years since the collapse of the oil price and the impact is noticeable in the lack of a severe outlier among the basic materials and products. Even after an apparent agreement by OPEC producers is factored in, the price associate with oil should not swing the cost of construction materials dramatically.

Read full post  |  Posted by on 12.13.16


NATIONAL OUTLOOK

Economic data from August and September painted a picture of a U.S. economy that remains stuck in a slow-growth cycle, but which is strong relative to its primary global partners. Job creation remains solid given the duration of the business cycle; and related data on wage growth and household incomes suggest that U.S. consumers have less to be concerned about today than even two years ago. Activity by business continues to weaken – albeit slightly – as a strong U.S. dollar, political uncertainty and weak global demand are sources of worry.

Labor markets remain the best source of optimism about the economy. Employment grew by 156,000 jobs in September, according to the October 7 report from the Bureau of Labor Statistics. After revisions were made to July and August job creation estimates, the September data meant that the monthly job additions during the third quarter averaged 191,000 – higher than the average of 171,000 for the full year to date.

As important as the jobs gained were the increase in average workers wages, which were up 2.6 percent year-over-year. Labor force participation also improved, with 444,000 more people entering the workforce. The average hours worked also jumped during the quarter. The September report showed a continuation of the upward trend in professional services and healthcare jobs, a possible end to the extended job losses in energy and further declines in manufacturing employment.

Read full post  |  Posted by on 12.13.16


7 things Millennials should not say to supervisors

Most CPAs, no matter their age, have said things they regret, either out of frustration or because they did not mull over their thoughts or articulate them properly. Some people also fall into bad habits, using certain words or phrases that are deemed less than professional. For instance, established leaders sometimes say the wrong thing to Millennials.

Read full post  |  Posted by on 12.12.16


Having Problems Keeping Employees?

Is retention of good employees a priority for your business? Consider conducting "stay" interviews. 

Read full post  |  Posted by James F. Weber on 12.08.16


A Comparison of Trump and House GOP Tax Reform Proposals

Comparing the House GOP plan to the Trump Plan: while there are many differences in the extent of tax relief promoted by each plan (with Trump's being by far the more generous), there are many similarities on key issues, including significant cuts in both individual and business tax rates, repeal of the estate tax and efforts to position U.S. businesses to compete on a more level playing field internationally. 

Click here for a comparison of the House GOP plan and the Trump plan by Holland & Knight: www.hklway.com

Read full post  |  Posted by on 12.07.16


Get to Know Andrew Byers, Staff Accountant

Describe your role at Weber O’Brien: 

I am a member of the accounting and assurance team. I assist with the review of company’s financials and help ensure quality and efficiency for a variety of different clients that include: non-profits, governmental, and small to medium sized businesses.

Read full post  |  Posted by on 12.07.16


Complete These Retirement Plan Steps Before Year-End

December 31 is the last day you can benefit from certain retirement tax breaks. For example, if you haven't put the maximum amount allowed in your 401(k) – $18,000 in 2016 – increasing your contributions can save you money. 

Read full post  |  Posted by James F. Weber on 12.01.16


Judge Suspends Rule Expanding Overtime for Millions of Workers

A federal judge in Texas issued a nationwide injunction on Tuesday against an Obama administration regulation expanding by millions the number of workers who would be eligible for time-and-a-half overtime pay.

Read full post  |  Posted by on 11.23.16


Weber O’Brien at the International Builders’ Show, January 10-12, 2017

Have you heard? Dave O’Brien and Jim Weber will be presenting at the International Builders' Show, January 10-12, 2017 in Orlando, Florida.  Here is a quick look at their presentations this year:

Read full post  |  Posted by on 11.10.16


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