2013 - Linkenheimer LLP CPAs & Advisors

Linkenheimer’s 34th Annual Golf Tournament (Pics Inside)

Over 110 clients, family and friends joined us for the 34th Annual Linkenheimer & JDH Golf Tournament at the Oakmont Golf Club. The success and attendance of the event is a direct reflection of how many great people show up to play every year. We’ve always said the people are what makes us different at Linkenheimer. Those people include our clients, staff and the families who support us. Each one is a pillar in the creation of a unique workplace, where our staff is in it for the “long haul”, and dedicated to providing our clients outstanding service. Our annual tournament is our way of saying “thank you” to all of you. We are looking forward to next year’s tournament and the growth of relationships that develop along the way.

Check us out on
or the gallery on our website.

By Linkenheimer LLP|2020-09-03T20:05:48+00:00October 10th, 2013|2013, best palce to work, golf, Linkenheimer, oakmont, tournament|0 Comments

Planning for the new Medicare taxes in 2013

As summer quickly passes and we head into the last half of 2013, it is a good time to evaluate your income and deductions for the year and begin working with your CPA on planning strategies to reduce your overall tax burden.

Specifically, upper income individuals should be aware of the additional Medicare Tax which applies to earned income (wages and self-employment income). Prior to this new tax provision beginning in 2013, any wages paid to you by your employer were subject to a 2.9% Medicare payroll tax, which was split equally by you and your employer (1.45% each). Beginning in 2013, wages above $200,000 for individual tax filers, or $250,000 for married taxpayers filing jointly, will be subject to an additional .9% Medicare tax.

For illustrative purposes, this would mean that if you and your spouse file a joint tax return and have combined wages of $350,000, you will end up paying an additional $900 in Medicare taxes. Employers are required to withhold this additional tax for employees with wages in excess of $200,000, and any underpaid or overpaid Medicare taxes will be adjusted for on your income tax return. Individuals with both wages and self-employment income aggregate their earned […]

By Linkenheimer LLP|2020-09-03T20:05:50+00:00July 26th, 2013|2013, 3.8, best, carli ortiz, CPA, Linkenheimer, medicare, planning, Santa Rosa, strategy, tax, upper income|0 Comments

FUTA Tax – Credit Reduction for 2012

For the second year running, California is a credit reduction state. This means “we” have taken loans from the federal government to meet state unemployment benefit liabilities and have not repaid those loans within the allowable time frame.

The result of being an employer in a credit reduction state is higher tax due on the Form 940. For the year ended December 31, 2012, the calculation results in $42 per employee as additional FUTA liability, bringing total FUTA tax per employee to $84 for the year. The increased liability is considered incurred in the fourth quarter and is due by January 31 (with other annual payroll report filings). For those filers that we process, explanation is provided with their reports. Those who run reports off Quickbooks are often puzzled that the balance due with Form 940 is so much higher than last year. Help them not to be puzzled.

As a practical matter, there is no predicting whether CA will be a credit reduction state again in 2013 (any bets on whether “we” repay those loans in the coming months?).

In 2011, the credit reduction liability resulted in an additional $21 per employee.
For 2012, the hit is […]

By Linkenheimer LLP|2020-09-03T20:05:52+00:00January 11th, 2013|2012, 2013, ca, credit reduction, employer, FUTA, new tax|0 Comments