Where Are Your Assets?
Does your spouse know where your assets are should something happen to you (and it might not be upon your death)? It is important your spouse be aware of all of your income sources and where your assets and liabilities…
2010 Year End Gift Tax Tips
Taxpayers can transfer substantial amounts free of gift taxes to their children or other donees (gift receivers) through the proper use of the following exclusion. (You're probably aware that the estate tax has been repealed for 2010, but is scheduled…
Newsletter Signup
We just finished the 2010 tax season and are starting a newsletter to help our clients and future clients stay on top of the major issues facing them. We will be sending out a newsletter periodically to all who sign…
EAE Tax Bites
The tax bill for small businesses looks like it will be passed very soon. Some of the items which will affect you are as follows: 1. You may expense up to $500,000 of assets placed in service in 2010 and…
Social Security Credit on Quarterly Payroll Report
If you haven't been taking advantage of the the credit on Form 941 for the employer's share of Social Security taxes for qualified employees you should immediately. This change was passed earlier in the year in the HIRE Act of…
Small Tax Exempt Organization Filing Requirements
We mentioned a link on our twitter page previously that discussed how small non-church tax exempt organizations are running into a problem this year in keeping their tax exempt status. Back in 2006, the Pension Protection Act contained a small…
Idea of the Week #3
Take a look at your dividend paying stocks before the end of 2010. Dividend tax rates might be on the rise next year if the Bush tax cuts expire.
FICA Refund for Medical Residents
The day before last one of our clients brought to us a very interesting issue that deals with medical providers. The issue deals with FICA taxes (Social Security & Medicare) withheld from medical residents paychecks while they were in residency. …