Planning for the Medicare 3.8% Tax- Net Investment Income, Deductions and More
The health care reform package (the Patient Protection and Affordable Care Act and the Health Care and education Reconciliation Act of 2010) imposes a new 3.8% Medicare contribution tax on the investment income of higher-income [...]
A Parents Best Intentions
As parents, we all want the best for our kids. For those who have something, anything, to pass on to the next generation in our family, our intentions may not meet the (unexpected) expectations of [...]
Fraud Letter for Businesses
The addage “desperate times call for desperate measures” applies to many businesses, large and small, during these difficult economic times. These measures can be in the form of reduced hours, layoffs, and business closures. There [...]
If You Accept Credit Card or PayPal Payments…
If you accept credit card or PayPal payments in your business, be on the lookout for another tax form!Due to the increased use of credit cards and electronic payments to vendors, the IRS is making [...]
Petaluma Nationals Showcase Team Spirit
Although the Petaluma Nationals did not win the World Series, they did come back as winners and an inspiration to all ages. The team was the first Little League team to go to Williamsport from [...]
Property Taxes… According to the Local Assessors Office
After a phone call to the local tax collectors office, we were told the following:"Unsecured property taxes are currently being printed and in the process of being sent out. You should start receiving them this [...]
September 17th Filing Deadline
The final due date for all December 31, 2011 year-end partnership, trust and estate income tax returns is September 17, 2012. Please contact us as soon as possible so that any 2011 partnership, trust or [...]
Californians can expect Head of Household Audit Letters
The California Franchise Tax Board (FTB) has mailed more than 120,000 audit letters to taxpayers to verify their head of household (HOH) filing status on their 2011 state income tax returns. Each year, the FTB [...]
Tax Increases Coming in 2012 under Affordable Care Act
Tax Increases Coming in 2012 under Affordable Care ActFast forward to next year and we are looking at a number of important tax increases on the horizon. The tax increases falls under the the Affordable [...]
Health Care Reform Updates
The U.S. Supreme Court on Thursday declared the mandate in Sec. 5000A, requiring U.S. citizens and legal residents to maintain minimum essential health coverage, to be a permissible exercise of Congress's taxing powers under the [...]