• 2013 HSA Contribution Limits

    2013 HSA (Heath Savings Account) Contribution Limits Self only plan                             Family plan Under age 55         $3,250                                         $6,450 Age 55 or over       $4,250                                         $7,450 Age 65 or over (1)     n/a                                             n/a (1    (1)    This does not mean you cannot contribute during the year.               The calculation is done on a monthly basis. You can contribute              until you…

  • China in 2012

    China is the world’s second largest economy…. 2012 sales in China accounted for 11.2% of revenue reported by U.S. companies listed on Standard & Poor’s 500 (research by The Economist… quoted in the Journal of Accountancy..a  publication of the American Institute of CPAs). […]Read More… from China in 2012

  • 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…

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