• 2013 Gift Basket – special tax court case

    There is a recent tax court case that applies to gift baskets. For a number of years there has been something called the Production Activities Deduction (PAD).  It generally applies to MANUFACTURING.  This tax court case may open a deduction for flower shops and other companies that assemble gift baskets. If your bottom line income…

  • Social Security in 2013 – How Much can I earn without reducing SSoc Pmt

    if you were born January 2, 1943, through January 1, 1955, then your full retirement age for retirement insurance benefits is 66. If you work and are full retirement age or older, you may keep all of your benefits, no matter how much you earn. If you are younger than full retirement age, there is…

  • 2013 Form 1099 Late Filing Penalty

    This has never been easy to explain…. here is the latest….              The penalties were increased two years ago to the following amounts: $30 per form, or per statement, if it was corrected within 30 days (maximum $250,000 per year), $60 per form, or per statement, if corrected more than 30 days after the filing due…

  • Cost Segregation Denied

    Cost Segregation is good.  It allows faster write off’s via depreciation of buildings.  We have clients who have been very satisfied. Taxpayer purchased a business and properly allocated the cost to the various asset classes per the purchase agreement.  Then the taxpayer paid for a cost segregation study.  It was decided that the the contract’s…

  • Employment Tax not paid? See what can happen

    Click here to See what happens if you don’t pay payroll tax […]Read More… from Employment Tax not paid? See what can happen

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