Beware of the 3.8% Medicare Surtax for Estates and Trusts
Ever since the United States Supreme Court upheld the Affordable Care Act, most of the focus has been on how this increased tax effects individual taxpayers. As determined by this decision, individual taxpayers with modified [...]
Increase in the Small Business Tax Credit
Under the Affordable Care Act (ACA), some small businesses may qualify for a small business tax credit. To be eligible, you must cover at least 50 percent of the cost of single (not family) health [...]
Tax Time: What You Need to Know
Every year the tax codes change and last year was no different. The real questions, as we close in on April 15th, are: What are the significant changes that will have an effect on how [...]
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 [...]
Highlights of the New Tax Deal
39.6% Tax Rate for Incomes Above $400,000 ($450,000 for Families)All Other Bush-Era Tax Rates Extended20% Maximum Capital Gains/ Dividend Tax RateMaximum 40% Estate/ Gift Tax RatePermanent AMT PatchFive-Year Extension of Enhanced Education CreditOne-Year Extension of [...]
Keys to Successful Employee Evaluations
“Annual Employee Evaluations” – Three words that make most employees shudder, call in sick, or steel themselves for the ‘constructive criticism’ meeting. Having participated in staff evaluations for over 20 years, and being the co-creator [...]
Top 5 Year-End Corporate Tax Planning Tips
With many tax provisions expiring at the end of 2012 and Congress undecided on renewing some of them, it is crucial for your business to prepare for its year-end tax planning accordingly in order to [...]
The Internal Revenue Service has just issued the 2013 optional standard mileage rates
The Internal Revenue Service has just issued the 2013 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2013, [...]
Tax-Related Changes to Newly Passed California Propositions
As you’ve undoubtedly heard by now, the recent elections resulted in the passage of two tax-related California propositions:Proposition 30. With the passage of Proposition 30,California’s sales tax rate will increase .25% from 7.25% to 7.50%. Additionally, [...]