The IRS does not send taxpayers unsolicited e-mails about their tax accounts, tax situations, or personal tax issues.If you receive such an e-mail, it’s a scam. […]
Category: Sub S Corporations
Minimum Wage 2011
For wages earned starting 6/1/2011 Florida employers must start paying their employees $7.31 per hour. This is an increase of $.06 over the current minimum wage of $7.25 per hour. Tipped employees must be paid an hourly rate of $4.29 per hour on wages earned starting 6/1/2011. Please visit the website http://www.floridajobs.org/minimumwage/index.htm for more information. […]
IRPAC – when did this start?
IRPAC (Information Reporting Program Advisory Committee) was established in 1991 as a result of an administrative recommendation contained in the final conference report for the Omnibus Budget Reconciliation Act of 1989. The recommendation suggested that the IRS consider “the creation of an advisory group of representatives from the payer community and practitioners interested in the […]
CONSUMER ALERT – FLORIDA
For well over a year we have had a scrolling alert on our main website www.USATaxHelp.com about this issue…. here is State of Florida’s latest web post….. CONSUMER ALERT! Arvitas, LLC is a private company sending e-mails to businesses in Florida offering to file annual reports. ARVITAS IS NOT AN AGENT OR REPRESENTATIVE FOR THE FLORIDA DEPT. […]
Making Work Pay Credit in 2011?
“Making Work Pay” provision is dropped in favor of the 2% FICA reduction (Social Security part) to the employee from the 2010 rate of 6.2% to 4.2% for 2011. […]
Regular IRA Maximum Contribution for 2009
$5,000 into a REGULAR IRA is the max for a single individual UNDER age 50 who does not participate in an employer sponsored retirement plan and still receive a tax deduction. Add $1,000 if over age 50. Can contribute till April 15th, 2010 for 2009. Can file your tax return WITH the Regular IRA as if it has […]
ROTH IRA Maximum Contribuiton for 2009
$5,000 into a REGULAR IRA is the max for a single individual UNDER age 50 who does not participate in an employer sponsored retirement plan and still receive a tax deduction. Add $1,000 if over age 50. Can contribute till April 15th, 2010 for 2009. Note: There is NO tax deduction for contributing to a ROTH IRA. The […]
2009 Simple IRA Maximum Contribution
If you participate in an Employer sponsored Simple IRA, you can put an max of $11,500 in 2009 PLUS $2,500 for being over age 50. That total is $14,000 maximum as an employee deferral. Additionally, the employer has some matching options. By far we have found the most popular Employer matching option to be… the […]
Health Insurance goes on W2 in 2011!
There is a lot of mis-information out there about Health Insurance being taxable…….. Starting in 2011, (next year folks), your W-2 tax form sent by your employer will beincreased to show the value of whatever health insurance you are given by the company. It does not matter if that’s a private concern or governmental body […]
Proof in an Audit
How do you prove a deduction? First, a cancelled check, credit card charge or cash receipt. BUT, that only proves you paid for something. Second, an invoice showing what was paid. For example, you have a cancelled check to an insurance company. It only proves you paid for something. You might have paid your Grandmothers […]