Category Corporations


Point of Sale Integration

Computers are wonderful things especially when combined with a point of sale system.  Gone are the days of counting back to make change, matching the drawer to your printer tape, and in some cases even 10-key.  Instead, when you place an order, the cashier simply pushes the button that corresponds to the product or service and …


IRS surveys are coming to a mailbox near you!

About 20,000 individuals and 24,000 businesses have been randomly chosen and will soon get letters from the IRS.  Don’t panic, these are not collection letters.  These IRS surveys will help them update their estimates of what sort of burden they place on you.  They are looking to see how much time you spend on filling out IRS …


Tax Increase has a New Synonym!

Remember when “revenues” meant what your company makes?  It’s one of those words that makes entrepreneurs feel warm and fuzzy inside and more revenues usually are a good thing.  Politicians in Washington have latched on to the good feelings this word produces and are now using it as a buzzword to replace another word that …


IRS Eliminates High Low Method

The IRS is eliminating the high low method of per diem for substantiating lodging, meal and incidental expenses incurred while traveling away from home.  The IRS will soon publish new guidance providing rules for substantiating these expenses without the high low method. The IRS had requested public comment on the continuing need for the high-low method, …


IRS Increase in 2011 Mileage Rate

The IRS may be feeling your pain at the pump.  The result is an increase in the 2011 mileage rate.  The standard mileage rate is going up to 55.5 cents for business miles driven between July 1 and December 31 of 2011.  This is a 4.5 cent increase over the current effective rate of 51 cents.  …


Foreign Bank Account Regulation (FBAR) Deadline Approaching

If you have a financial interest in a foreign bank account, you should be familiar with filing Form TD F 90-22.1. Regulations regarding this form have changed as recently as June 6, 2011 . These changes affect a financial interest in or signature authority over a foreign financial account, including a bank account, brokerage account, …


Florida Minimum Wage Going Up

Florida has built in a system where the minimum wage is to be adjusted with changes in cost of living.  This has been true since an amendment was added to the Florida State Constitution in 2004 and resulted in the florida minimum wage rising to it’s current rate of $7.25.  However, the rate was not …


1099 Rule Repealed

It’s official: businesses will not be required to file 1099s for payments to other corporations.  You will still be required to file 1099 forms for individuals who receive $600 or more in non-employee payments. The highly criticized 1099 rule was part of the healthcare law and was designed to help the IRS track down illegitimate …


IRS Notices increase: check twice before you pay!

E-filing can speed up the tax filing process, and that is really nice…sometimes.  When they process your return before they process your extension, that can cause some headaches in the form of IRS Notices.  Already we are starting to see late filing notices go out for corporate returns that we filed in the last half …


Government Shutdown and Tax Refunds

We are now about 15 hours away from the deadline.  No, I’m not talking about the tax deadline, I am talking about the deadline for the government to pass a funding bill to prevent a government shutdown.  Many of us, frustrated with how poorly Washington has done at coming together to pass this budget, might …

Page 8 of 12