Educating the Masses to Help You Save On Taxes

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Bush Tax Cuts Set to Expire
Apr 10, 2012 in New Tax Issues    
Everyone will pay more in taxes if the Bush Tax Cuts are left to expire at the end of 2012. Some changes will be subtle and others will be very dramatic. All of this depends on where you fall into the tax code.
The Bush tax cuts were passed in 2001 as the Economic Growth and Recovery Tax Act. [...]

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Refund Delays?
Mar 13, 2012 in New Tax Issues    
Why is it taking so long to get my Tax Refund???
Your IRS refunds are going to be delayed by an extra week this year. The culprits are the fraudulent tax returns and the modernized E-File system initiated by the IRS in 2009
Fraudulent Tax Return filing has been on the rise for the last [...]

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Will YOU Get Audited in 2012?
Feb 28, 2012 in New Tax Issues    
The probability of being selected by the IRS for a federal income tax audit this year is going up. Overall audit rates for 2010 were 7.4%. This meant 7 out of 100 tax returns were picked for audit. At the recommendation of the Treasury Department the IRS is updating their relationship databases in [...]

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IRS Audits to Hit Small Business Harder in 2012
Feb 14, 2012 in Business Tax    
The Treasury Inspector General for Tax Administration (yes, even the IRS has a big brother!) performed an audit on IRS procedures for conducting audits of corporate tax returns in 2011. This procedural audit showed that Small Business/Self-Employed Division IRS examiners could do a better job of en [...]

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2012 Unemployment Tax Increases Affect Florida Businesses
Feb 7, 2012 in Business Know How    
For 2012 Florida businesses will see tax increases over 2011 in three distinct areas. This is all related to the poor economy and high unemployment of the past few years. Simply stated, the state of Florida’s Unemployment Compensation (UC) Trust Fund is in debt to the Federal Government, [...]

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Extended Payroll Tax Cut Could Benefit Small Business Owners
Feb 3, 2012 in Business Know How    
We’ve discovered some good news for the savvy small business owner. The IRS has extended a 2011 payroll tax cut through the end of February 2012. This tax cut is a 2% reduction in Social Security tax from 6.2% o 4.2%. (which they assure us will have no effect on our Social Security benefi [...]

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1099-K, Merchant Account Payments and You
Jan 24, 2012 in Business Know How    
What is a 1099-K and why am I receiving it?
The 1099-K is a new form for 2011 for reporting payments to the IRS that are received by a person or a business from a Merchant (Visa, Mastercard, American Express, Discover) and/or a Third Party Network, (PayPal, Google Checkout, etc.) when the tot [...]

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Unemployment Tax changes affect Florida Businesses
Jan 18, 2012 in Business Know How    
The condition of the US economy over the past few years has left Florida (and 19 other states*) in debt to the Federal Unemployment Insurance system. Florida’s Unemployment Insurance debt is on the order of $2 Billion dollars! The grace period for repayment of these funds has passed, and the Fede [...]

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IRS Announces a Medical & Moving Mileage Rate Increase for 2011!
Jul 7, 2011 in New Tax Issues    

The Internal Revenue Service announced an increase in the optional standard mileage rates for the final six months of 2011. Taxpayers may use the optional standard rates to calculate the deductible costs of operating an automobile for business purposes.
In recognition of recent gasolin [...]

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Keeping Your Customers Satisfied
Apr 29, 2011 in Business Know How    
Calculator Thank You Cake
It is truly amazing to come to the end of the 2011 tax season and be greeted by satisfied customers with kind gestures and appreciative phone calls.
The photo to the left is a display of one of those kind gestures of gratitude from a satisfied client that wan [...]

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