Category Corporations

18
Feb

House Votes To Defund Health Bill

When it comes to the health bill, taxpayers may have nothing to fear from the mandate to buy insurance in last year’s healthcare legislation.  Unless IRS agents want to work for free, individuals and businesses may end up having no need to purchase or report health insurance when the insurance mandate kicks in.  The House …

4
Feb

Unemployment Compensation Bills Hitting Florida Businesses

Unfortunately, the unemployment compensation bills you received in the mail from the State of Florida is not another scam. Florida has had to borrow from the Federal Government to fund unemployment benefits. Now all Florida businesses who employ workers and pay wages are being billed for the interest. Florida businesses who pay unemployment taxes are …

3
Feb

1099 Reporting Requirement Hanging By Thread

Technically, Obama’s healthcare law is now void after a federal judge in Pensacola, FL ruled the entire law unconstitutional.  However, the law is now headed for the appeals process and eventually the Supreme Court.  In the meantime though, repeal efforts are being bounced back and forth between the Republican controlled House and Democrat controlled Senate.  …

17
Nov

The Future of Florida LLCs after Olmstead

In case you thought your LLC was safe from creditors, think again.  Florida’s Supreme Court has recently ruled that interests in single member LLCs can be taken in a charge order to satisfy the owner’s personal debts and judgments against them.  The real kicker though is that this judgment may affect multi-member LLCs as well. …

21
Oct

Taxes they are a rising … Third wave

As the midterm election storm is brewing, we are closely watching the potential effects of party and committee changes on taxes and tax law.  One thing is for certain, this election has the potential to have a big impact on your wallet through the stay or repeal of recently passed health care bill. More of a …

27
Sep

Small Business Tax Bill Increases Section 179 Depreciation

The latest small business tax bill won’t bail anyone out, keep any company from failing, or help stagnant companies grow.  However, if you are already expanding and need capital the Small Business Jobs and Credit Act of 2010 will help. The latest small business tax bill to help grow jobs and stimulate the economy offers two ways …

23
Sep

Taxes they are a rising … First wave

The hurricane season has brought plenty of attention to future weather patterns and strong waves for surfers in North Florida this Summer.  However what concerns me more is the recent actions and in-actions by our elected officials in Washington which have the potential to bring waves of tax increases.  These waves are powerful and will …

16
Sep

Update: Quickbooks Online Payroll Update Messy for Some

Quickbooks Online has recently updated their Quickbooks online payroll module and moved the data to a new platform.  While this was intended to be a seamless process, some clients have experienced loss of data, changes to the way accounts are linked and payroll items behave, and in some cases have been required to resubmit e-filing …

13
Sep

Tax Refund for Tax-Exempt Organizations

In most cases, tax-exempt organizations have little to be excited about when the government starts handing out cash.  Since they don’t pay taxes, they usually don’t get tax deductions or credits.A tax refund for tax-exempt organizations is highly unusal to say the least.  Fortunately, for most tax-exempt organizations, the Affordable Care Act has them covered*. In …

16
Jul

Florida is Looking Closely at S Corp Wages

If you have a profitable S Corporation, then we have probably already discussed the importance of taking a reasonable salary for the services you perform.  Well, in case you have forgotten, I wanted to take a moment to remind you about S corp wages before the State of Florida does. Florida is once again cracking down on …

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