Month: May 2019

Credit for Plug-In Electric Vehicles Winds Down

The tax credit available for purchasers of new General Motors plug-in electric vehicles begins phasing out on April 1, 2019. The phaseout was triggered because General Motors, LLC has sold more than 200,000 vehicles eligible for the plug-in electric drive motor vehicle credit during the fourth quarter of 2018.

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Tips for Getting Paid on Time — How to Improve Collection Rates

Have you found that collecting on your accounts receivables is becoming more and more of a challenge? Strengthening your collection procedures may allow you to improve collection rates and shorten the aging days of your accounts receivables. The following suggestions will help your business improve its cash flow and tighten up its credit and collections policies. Some tips discussed here may not be suitable for every business but can serve as general guidelines to give your company more financial stability.

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EIN application Process Revised to Enhance Security

Starting May 13, 2019, only individuals with tax identification numbers may request an Employer Identification Number (EIN) as the “responsible party” on the application. An EIN is a nine-digit tax identification number assigned to sole proprietors, corporations, partnerships, estates, trusts, employee retirement plans and other entities for tax filing and reporting purposes.

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