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5 Key Resources on the Members-Only Site (MOS) for CAMICO Policyholders

You will find a wealth of best practices and risk management resources at your fingertips on the CAMICO Members-Only Site. There are 5 main areas of important information and tools for accountants who are CAMICO policyholders. Knowledge Tree: Locate documents quickly in this searchable library with hundreds of relevant accounting and tax resources, including risk … Read more

Alert Communicating and Documenting Options toTPR

Communicating and Documenting Options to TPR Clients CAMICO issued an updated Alert (located on the Members-Only Site under Knowledge Tree, Alert Documents, 2015, Tangible Property Regs), to our policyholders in response to the IRS February 13, 2015 release of Rev. Proc. 2015-20 offering tangible property regulations (TPR) relief to small businesses and rental real estate … Read more

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Alert — Final Tangible Property Regulations Require Filing Application for Change in Accounting Method for 2014 Tax Year (Revised Feb. 17, 2015)

Background In September 2013, the IRS issued final tangible property regulations addressing the capitalization and depreciation of capital expenditures, treatment of materials and supplies, and disposition of tangible depreciable property. The regulations are applicable to tax years beginning on or after January 1, 2014, and to some extent may be applied retroactively to taxable years … Read more

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Alert — New California Law — Assembly Bill 1522, California Paid Sick Leave Law aka “Healthy Workplaces, Healthy Families Act of 2014”

On Sept. 10, 2014, Governor Jerry Brown signed AB 1522 — the Healthy Workplaces, Healthy Families Act of 2014 (“HWHFA”). Effective July 1, 2015, California law will mandate paid sick leave accrual for employees statewide at a rate of one hour for every 30 hours worked, allowing employers to cap employee use of paid sick … Read more

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Communicating and Documenting Options to TPR Clients

CAMICO issued an updated Alert to our policyholders in response to the IRS February 13, 2015 release of Rev. Proc. 2015-20 offering tangible property regulations (TPR) relief to small businesses and rental real estate owners. Rev. Proc. 2015-20 provides a simplified procedure for small businesses to comply with the final tangible property regulations, although with … Read more

Alert — Final Tangible Property Regulations Require Filing Application for Change in Accounting Method for 2014 Tax Year (Revised)

The following alert has been modified as a result of new guidance provided by the IRS. On February 13, 2015, the IRS released Rev. Proc. 2015-20, which provides a new simplified procedure for small businesses. Under this simplified method, a small business may adopt the final tangible property regulations on a prospective basis and Form … Read more