Latest News

IRS Seeks Feedback on Health Care Reform’s Nondisrimination Rules

The IRS has requested comments on the new requirement that group health plans do not discriminate in favor of highly compensated employees. This treatment is mandated by the health care reform package (the Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act). September 23, 2010 was the six-month anniversary of enactment of health care reform and triggers a number... Read More

IRS Will No Longer Mail Paper Income Tax Packages

Individual and business taxpayers will no longer receive paper income tax packages in the mail from the IRS. The IRS is taking this step because of the continued push for electronic filing and the availability of free options to taxpayers, as well as to help reduce costs. In early October, the IRS will send a postcard to individuals and businesses who filed paper returns last year and did not use a tax... Read More

How can it be an RIA “Surprise” Exam if You Hire Someone to Perform the Work?

Many Registered Investment Advisory Firms are taking action to be in compliance with the amended Custody Rule which requires advisers with custody of client assets to undergo a surprise examination of those client assets by an independent certified public accountant. Because this is new to many RIAs, there are many questions in regards to the process and requirements. One common question we hear when... Read More

401(k) Audits – Mandatory Filing for Benefit Plans

An annual filing of form 5500 is mandatory for retirement, health, and welfare benefit plans. Plans with over 100 participants at the beginning of the plan year are considered to be a “large plan.” An additional form, Schedule H, must be included when filing large plans, and an audit of the plan must be performed. Certain companies may be exempt from this requirement under the 80 – 120... Read More

What to do When the IRS Comes Knocking

With the IRS’s recent efforts to close the so-called “tax gap,” the chance of being selected for audit are higher than ever for many individuals and businesses. In fact, President Obama’s fiscal 2011 budget request includes an increase of $293 million for IRS enforcement programs. When you are on the IRS’s audit radar, it’s important to be well informed, well prepared, and well advised. Here... Read More

Pauline Reynolds and Richard Taylor Named 2010 Five Star Wealth Manager

Congratulations to Pauline Reynolds and Richard Taylor for earning the “Five Star Award” for Wealth Management in 2010. This prestigious recognition is limited to just 7 percent of all professionals within a specific industry and market area. The service award is based on a combination of direct client and industry professional feedback. The program is specifically designed to allow... Read More

Small Business Jobs Act of 2010

Congress has passed a small business jobs bill (the Small Business Jobs Act of 2010) with valuable individual and business tax incentives. Many of the $12 billion tax incentives are temporary so taxpayers have only a short window in which to take advantage of them. Others are permanent but require careful planning to maximize your tax benefits. Although the new law is labeled a “small business... Read More

HLBGC Participates in International Events

Robert Ainsworth and Jennifer Harrison recently attended a luncheon at the Atlanta World Trade Center where Mayor Kasim Reed spoke to the business community about the city re-engaging the international community. Global Atlanta featured the event in their online publication. You can read the article here. Tom Breedlove, Richard Taylor, Jennifer Harrison and Adil Amou attended the welcome... Read More

Georgia Rewards “Angels” with Financial Tax Credits

by Stephen R. Gross In a business environment that typically punishes business, assumes success is based on luck and “good fortune,” and views businessmen as Devils, it is refreshing to see the State of Georgia recognizing its Angels and rewarding them for good deeds. George House Bill 1069 – Section Two This bill, signed into law in June 2010, provides for a Georgia Tax Credit of up to $50,000 per... Read More