Tax

As 2012 comes to a close, get ready for more sweeping tax changes that will affect your business. In 2010, Congress extended many business incentives for one or two years. These incentives are about to expire. In addition, many of the “Bush-era” tax cuts are scheduled to sunset at the end of 2012. It is unclear if Congress will provide further extensions as they debate across-the-board spending cuts scheduled to take effect in 2013. In addition, businesses must prepare to comply with new healthcare reform, and new exacting repair regulations. This combination of events provides tax planning considerations unique to 2012 that requires a multi-year strategy taking into account a variety of scenarios and outcomes.

International tax matters can be subtle and require advanced skill and knowledge. Because of these difficulties many firms shy away from doing international work. But why would we be interested in turning away some of our most interesting and loyal clients?

We are proud of our clients and the tax savings that we have brought them over the years.

"If I had six hours to chop down a tree, I'd spend the first hour sharpening the ax."
- Abraham Lincoln

Being prepared for an upcoming tax deadline is relieving, saving you time and money. Additionally, with our premier Tax Preparation & Planning you can intelligently position your assets so you can maximize growth and minimize expense. We've been providing these services for over 35 years to businesses, individuals, and other CPAs who depend on our experience, knowledge, and contacts.

The IRS has issued long-awaited and much needed proposed reliance regulations on the operation of the two new surtaxes imposed under the 2010 healthcare legislation: the 3.8 percent Net Investment Income Tax (NIIT), and the 0.9 percent Additional Medicare Tax. Both surtaxes are scheduled to come into full effect on January 1, 2013. The proposed reliance regulations and the frequently asked questions on the IRS website attempt to address many of the gaps in the application of these surtaxes that have been questioned by tax professionals, employers, and taxpayers. The guidance on each of these surtaxes is extensive and is immediately critical for affected taxpayers.

Owning your own business can be very rewarding, both personally and financially. Being the sole decision-maker for this important undertaking can also be overwhelming. Business owners have many choices to make, and these choices involve tax consequences that are not always foreseen. We can help you minimize your overall tax burden by identifying and maximizing business deductions, providing guidance on substantiation of expenses, and exploring tax planning alternatives that are uniquely available to the self-employed.