Category Corporations

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 …

29
Jun

Hidden 1099 Reporting Requirement changes

When you give Congress more than a thousand pages of a bill to hide things in, the results should be pretty obvious.  It is no different with the new Healthcare Bill.  But one of thew new 1099 reporting requirements will cost you big time and has nothing to do with health insurance. Every year businesses …

16
Jun

Healthcare and taxes, Part 3 Healthcare Tax Credit

The President is touting his Small Business Healthcare Tax Credit as one of the many substantial benefits of the new healthcare legislation.  But who actually has less than 10 employees, an employer paid health plan, and salaries averaging less than $25,000 a year?  The National Federation of Independent Business believes that only 1.8 million businesses …

8
Jun

State of Florida embraces debt forgiveness

Accidents happen.  More often, mistakes happen.  In some cases, you just didn’t know.  In other cases, maybe you did and need to come clean. Beginning soon, Florida embraces debt forgiveness, along with several states who are now offering a window of forgiveness.  From July 1 through September 1, Florida will be offering amnesty to help bring …

2
Jun

Important Tax Updates!!

Some bad news, some good news, and then some really bad news.  We have three tax updates; changes that you need to know about. 1. The State of Florida can no longer waive the $400 late fee for filing your corporate annual report. In the past, if you missed the May 1st deadline, you could simply check …

2
Jun

How to Become HITECH

We have discussed whether you you qualify for the HITECH Medicare and Medicaid credits and what type of Electronic Medical Record program will qualify you.  No doubt you are left with that all important question of “How do I get started?”  In this final blog of the series, we will help you answer that question. …

20
May

HITECH 25 Points of Meaningful Use

Last time we wrote about the new provisions in the HITECH Act that could provide medical providers with up to $44,000 in Medicare credits or up to $65,000 in Medicaid credits by switching to electronic medical records (EMR).  In order to qualify for these credits, you need to be able to show that you meet …

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