Spring Is Here!

It feels so good to welcome back the spring! 
Gardner & Billing CPAs wish you 
a bright and beautiful first day of spring!

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Independent Contractor Exemption Certificate (ICEC) – Frequently Asked Questions

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Montana Workers’ Compensation Laws for Independent Contractors from the Department of Labor & Industry What are Montana’s workers’ compensation laws for independent contractors? The law requires independent contractors to obtain either an independent contractor exemption certificate or self-elected coverage under a Montana workers’ compensation insurance policy. Refer to MCA, 39-71-417 . What is the purpose of an independent contractor exemption certificate? It allows an independent contractor to waive all their rights and benefits that would otherwise be provided by a workers’ compensation insurance policy. If an independent contractor were to suffer a work-related injury or occupational disease while performing the occupations specified on the certificate, they would not be eligible for workers’ compensation benefits. The certificate concludes the person’s status is conclusively presumed to be that of an independent contractor. Refer to MCA, 39-71-417(7) . What is the purpos...
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Get Ready for Taxes: What to do before the tax year ends Dec. 31

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WASHINGTON –The Internal Revenue Service reminds taxpayers there are things they should do now to get ready for the tax-filing season ahead. Charitable Contributions For most taxpayers, Dec. 31 is the last day to take actions that will impact their 2019 tax return. For example, those who plan to itemize deductions should know that charitable contributions are deductible in the year made. Donations charged to a credit card before the end of 2019 count for the 2019 tax year, even if the bill isn’t paid until 2020. Checks to a charity count for 2019 if they are mailed by the last day of the year. Retirement Plans and Contributions Taxpayers who are over age 70 ½ are generally required to take distributions from their individual retirement accounts and workplace retirement plans by the end of 2019. However, a special rule allows those who reached 70 ½ in 2019 to wait until April 1, 2020, to receive them. Most workplace retirement account contributions should be made by the end of the ...
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How Medicare Part D Works

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In advance of our Community Education Medicare Seminar coming up on September 14th, we wanted to provide a foundation for your questions.  We've compiled some excerpts from an AARP article by Patricia Barry to give you an understanding of some of the basics of Medicare Part D.  Be sure to join us September 14th at 2pm at the Broadus Community Center for our free seminar! _________________________________________________________________ Before deciding whether to sign up for Medicare prescription drug coverage, you need to understand how the program works together as a whole. Grasping the big picture makes it easier to deal with the details. Who can get Medicare drug coverage? Anyone on Medicare (with either Part A or Part B) is entitled to drug coverage (known as Part D) regardless of income. No physical exams are required. You cannot be denied for health reasons or because you already use a lot of prescription drugs. How do I get Medicare prescription drug coverage? You...
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