January 1, 2009 is just around the corner and so is Form T-1, the Department of Labor's (DOL) latest device to keep labor organizations under a microscope.  Posted on the DOL's website on September 30, 2008, the final rule lays out detailed reporting requirements regarding certain trusts in which a labor organization has an interest ("section 3(l) trusts").

What is a section 3(l) trust and who must file Form T-1?  What information must be reported on Form T-1?  Are apprentice/training funds exempt if they file Form 5500?  What if the section 3(l) trust is audited by an independent certified public accountant?

Click "Full Article" below to learn more.

Article by Barry T. Omahen, CPA

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Lindquist LLP partners Nick Ross, Joe Thiermann and Debbie Roessl Dimery are each scheduled to present during the 54th International Foundation of Employee Benefit Plans (IFEBP) Annual Employee Benefits Conference in San Antonio, Texas November 16 – November 19, 2008. 

Planning to go to the conference?  Click "Full Article" below to learn more about Nick, Joe and Debbie's presentations.

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Lindquist LLP annually celebrates Halloween with a potluck lunch and costume contest.  This year, we added a new element:  a pumpkin carving contest!

For a day, we transform from auditors into princesses, gypsies, farmers and even farm animals.  And then again, some of us just prefer to stay auditors...

Click "Full Article" below to see the results of our Halloween hoopla.

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  Timely Opportunities

A financial accounting standard, known as FIN 48, requires organizations to analyze positions they take on their tax returns to determine the likelihood that they will be sustained if they were ever examined by the IRS and other tax authorities. Recently, the Financial Accounting Standards Board voted to give private companies a reprieve from the rules. Here are some answers to questions that are being asked by company owners, not-for-profits, and executives about FIN 48.
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  QuickBooks Pro - General

QuickBooks is for everyone...Or is it? Find out the technical and practical limitations of the QuickBooks accounting software. Make an educated decision on the software that's right for your business!
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  Health Issues in the Workplace

Do you ever feel like your company's health insurance rates are determined randomly? With costs rising, you may wonder if there is any rhyme or reason for the increase. In fact, there is a set of criteria that insurers look at to calculate renewal rates. To find out what's affecting your rates, read the "Full Article."
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  Benefits Administration

Does your business have to comply with the Family & Medical Leave Act? If it does, what is expected? Keep in mind a direct correlation exists between stability in the family and productivity in the workplace. To understand the FMLA, its requirements, and its effect on productivity, click "Full Article."
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  Disclaimer of Liability

Our firm provides the information in this e-newsletter for general guidance only.  It does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. Tax articles in this e-newsletter are not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided "as is," with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.