Category Corporations


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 …


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 …


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 …


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 …


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 …


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 …


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. …


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 …


HITECH means bonus for tech savy physicians

The HITECH Act passed on February 17th, 2009 could stimulate some medical practices to make changes in the way they do business in 2010. This act allows physicians to qualify for up to $65,000 in Medicaid incentives and $44,000 in Medicare incentives for the adoption an Electronic Health Record (EHR) system. In this series of …


Alert – Double Check Your Quickbooks Payroll

Last year Florida passed an Unemployment Compensation Tax rate and wage threshold hike, increasing the taxable wage threshold to $8,500.  What this meant was that payroll software programs were calculating taxes on the first $8,500 that each employee made, instead of just the first $7,000.  Then, partway through the first quarter, Florida repealed portions of …

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