May 25, 2011
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Tax Tips for a Sub S Corporate Structure
May 19th, 2011 When you become self employed, you must decide what form of business entity to establish. The basic categories include: sole proprietorship, partnership, C corporation, LLC (Limited Liability Company), and S corporation. It’s important to discuss entity selection with both your attorney and your tax pro, before deciding what structure is best for […]
Read more- May 24, 2011
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Health Costs to Rise 8.5% in 2012
May 20th, 2011 Pent-up demand for health services and consolidation among doctors and hospitals are among the factors exerting upward pressure on costs. U.S. employers can expect to see health-care costs rise by 8.5% in 2012, up a tick from this year’s 8% climb, according to a new report from PricewaterhouseCoopers. The firm says that […]
Read more- May 23, 2011
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IRS To Whistleblowers: “Thanks, But We’re Withholding!”
May 19th, 2011 There’s been lots of press lately about how the IRS is paying for information. In fact, the entire Swiss banking industry was literally brought to its knees because of a whistleblower. OK, he went to jail, but he still expects to receive a nice chunk of change for all the tax dollars […]
Read more- May 20, 2011
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Tax Break for Self-Employed Likely to Vanish
May 18th, 2011 The Small Business Jobs Act nixed the tax that self-employed workers pay on health insurance for 2010. Small biz advocates doubt Congress will extend it. Paula Fleming, a freelance copy editor in Minneapolis, spends $3,600 a year on bare-bones health insurance for herself and her husband. For the 2010 tax year, for […]
Read more- May 19, 2011
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Geithner says overhaul of tax code must wait
May 17th, 2011 A push to overhaul the U.S. corporate tax code will take a back seat to negotiations on the deficit and debt ceiling over the next two months, Treasury Secretary Timothy Geithner said on Tuesday. Geithner said the Obama administration hopes to take up the issue of tax simplification before the presidential election […]
Read more- May 18, 2011
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3 Possible Surprises From Bernanke and the Fed
May 16th, 2011 Mission accomplished? That’s the tacit message the Federal Reserve and its chairman, Ben Bernanke, have been sending, now that the economy is recovering and companies are starting to hire again. As every Fed-watcher knows, the Fed plans to end its second bond-buying, or “quantitative easing,” program at the end of June, which […]
Read more- May 17, 2011
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Interest Rates Remain the Same for the Third Quarter of 2011
May 16th, 2011 The Internal Revenue Service today announced that interest rates for the calendar quarter beginning July 1, 2011, will remain the same as in the previous quarter. The rates will be: four (4) percent for overpayments [three (3) percent in the case of a corporation]; four (4) percent for underpayments; six (6) percent […]
Read more- May 16, 2011
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3 New Retirement Rules You Can’t Ignore
May 13th, 2011 Some people do everything right, play by the rules, and still end up unprepared for retirement. That’s because the retirement rules have changed quite a bit over the past generation. Make sure you are aware of these changes in order to adequately prepare for retirement. 1. Savings isn’t enough. Not so long […]
Read more- May 13, 2011
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Tax Legislation Update: IRS Revenue Procedure 2011-26 Provides Bonus Depreciation Guidance
May 3rd, 2011 The new IRS Revenue Procedure 2011-26 gives detailed guidance on handling the deduction for bonus depreciation in specific situations. While mainly concerned with the new 100% bonus depreciation deduction, Revenue Procedure 2011-26 also discusses the 50% bonus deduction. This important revenue procedure does the following: Clarifies that qualifying restaurant property and retail […]
Read more- May 12, 2011
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Republicans Rule Out Tax Increases in Debate Over Debt Cap
May 10th, 2011 Republican congressional leaders are ruling out tax increases or a wider revenue base in talks on extending the U.S. government’s borrowing authority, creating a conflict with Democrats who would raise more money as well as cut spending. House Speaker John Boehner staked out the Republican position by telling the Economic Club of […]
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