BA Harris LLP

Per Diem Rules

Published on Thursday, December 14, 2017

If you or your employees travel for business, it might be beneficial to implement a qualified per diem plan. Rather than reimbursing for actual expenses, an employer can provide a per diem amount based on IRS approved rates. One of the major benefits of the per diem method is the more lenient recordkeeping – employees typically are not required to keep receipts. Instead, a company simply pays the allowance to the employee. In addition, qualified per diem reimbursements generally are not subject to income or payroll tax withholding and are not reported on an employee’s W-2. It is also a good way to control travel and entertainment expenses. Read More...

Idaho IDeal Contribution Limits Have Increased!

Published on Thursday, November 30, 2017

Beginning January 1, 2017 the Idaho state deduction for contributions to an Idaho IDeal plan has increased from $4,000 to $6,000 ($8,000 to $12,000 if married filing jointly). If you have any questions on this Idaho tax deduction please do not hesitate to reach out to any of our knowledgeable staff. Read More...

Are You Subject to the Household Services (Nanny) Tax?

Published on Wednesday, November 22, 2017

If you pay an individual more than $2,000 in a calendar year for household services such as childcare/nanny services, you are considered a household employer. As such you are responsible for the reporting and payment of payroll taxes on your household employee(s). This includes filing quarterly state unemployment reports with the Idaho Department of Labor (and quarterly payment of state unemployment tax along with the filing), annual forms 910 and 967 with the Idaho State Tax Commission and annual forms W-3 and W-2 with the Social Security Administration. The form(s) W-2 must also be given to your household employee(s) before January 31st each year. These forms require personal information on the employee(s) as well – name, address and social security number – so be sure to obtain this information from the employee(s) when you hire them. In addition, payment of the Federal Unemployment, Social Security and Medicare taxes are done by filing schedule H with your individual income tax returns. Read More...

Affordable Care Act and Health Reimbursement Arrangements

Published on Tuesday, January 20, 2015

The Affordable Care Act (ACA) added new requirements for health insurance coverage.  Although small employers (those with fewer than 50 full-time employees) are not required to provide health insurance coverage, there are still some rules that come into play. Read More...

Substantiation of Business Expenses

Published on Tuesday, January 20, 2015

For certain business expenses, taxpayers are required to provide specific information substantiating the expense in order to deduct.  These four common expenses require specific detail: Read More...