2012 Business Newsletter

YEAR-END BUSINESS TAX NEWSLETTER Dear Valued Client and Colleagues: January 24, 2012 2011-2012 The year of ???? Last year we started this letter with so much uncertainty—this year, very little has changed from the prior year…We asked the question—“1099s for everyone?...

Charitable Contributions and Planning

www.itsdeductible.com – Estimated high and low values for a variety of used items. www.satruck.org – Estimated high and low values for a varity of used items. To find the list, click on “frequently asked questions” in the site’s...

Tax Tip for 8-15-11

For 2011, businesses will be required to report their income derived from charge card sales separately from other income. Charge card companies will be issuing a Form 1099K reflecting the amount of the sales that go through charge cards. We recommend that you change...

RMD vs. Charitable Contributions

For those that have reached aged 70 ½ and are required to take a minimum distribution from your traditional IRA, you have the opportunity to make a charitable donation from your IRA, in lieu of your required minimum distribution. HOWEVER, YOU MUST ACT QUICKLY AS THIS...

Federal Unemployment Rate Decrease

Effective July 1, the FUTA (Federal Unemployment) rate decreased from .8% to .6%. For those employees that have already been paid $7,000 or more prior to July 1, 2011, this has no effect to the employer for 2011. If an employee had not yet been paid $7,000, the...