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  • Paying for Payroll Taxes With Form 8109 Coupon to End December 31st August 22, 2010
    The IRS has issued proposed regulations that would eliminate paper coupons for deposits of employment taxes, corporate income and estimated taxes, and many other taxes (REG-153340-09).  The paper 8109 coupon payment system will be shut down at the end of 2010.  Taxpayers currently still using the paper coupons to make [...] […]
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  • President’s budget proposal calls for quarterly W-2 reporting May 12, 2010
    There is a provision in the President’s fiscal year 2011 budget (Oct. 1, 2010 to Sept. 30, 2011) that would require quarterly W-2 reporting, rather than annual. The budget document says that increasing the timeliness of wage reporting would enhance tax administration, improve program integrity for a range of programs, and facilitate implementation of [...] […]
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  • 2010 Health Insurance Reform Tax Credit Calculator for Small Business May 11, 2010
    Found this handy calculator if you’re wondering if your business qualifies for the new small business tax credit on health insurance. Courtesy of National Federation of Independent Businesses. […]
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Maximizing Medical Deductions Before 2013

Medical expenses are deductible if you itemize your deductions.  However, there is a limit on how much of those medical expenses can be deducted based upon your income for the year.  Currently, only medical costs that exceed 7.5% (10% if you are subject to the alternative minimum tax) of your adjusted [...]

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Hiring Family Members in a Family Business

In today’s tough job market, students seeking summer employment, young adults looking for full-time employment, and college graduates looking to begin their careers are finding it difficult to land a job.  The family business may be the only place for some family members to find work, even if only temporarily until [...]

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2009 Year-end Tax Planning Guide Available

The 2009 edition of the tax planning guide is now available on our website.  Click here for a pdf version.
Just be sure to stay tuned to our blog, emails and Twitter feed.  As legislation changes we will be posting highlights as soon as e can get the laws analyzed.
Also, don’t forget to check out our [...]

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Will the “Making Work Pay” tax credit hurt you next April?

The new “Making Work Pay” tax credit is being paid to taxpayers in advance through reduced payroll withholding. The reduction was accomplished by tweaking the payroll withholding tables, which does not consider all specific tax circumstances. You may not have even noticed the difference, especially when spread over weekly, bi-weekly, or [...]

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