You are currently browsing the IRS Tax Talk weblog archives for November, 2011.
| M | T | W | T | F | S | S |
|---|---|---|---|---|---|---|
| « Oct | Dec » | |||||
| 1 | 2 | 3 | 4 | 5 | 6 | |
| 7 | 8 | 9 | 10 | 11 | 12 | 13 |
| 14 | 15 | 16 | 17 | 18 | 19 | 20 |
| 21 | 22 | 23 | 24 | 25 | 26 | 27 |
| 28 | 29 | 30 | ||||
- Ask Question or Comment (3)
- General (53)
- Income Tax (80)
- International Taxation (26)
- LLC's (49)
- Newsletter Topics (14)
- Payroll Tax (21)
- Retirement Accounts (17)
- Sub S Corporations (43)
- 3. March 2012: 1099s - Should I do them?
- 22. February 2012: Sale of Business BUT What did you Sell?
- 1. February 2012: Florida State Unemployment Tax Rates 2012
- 21. January 2012: 2011 Health Insurance MUST be on W2 for >2% Sub S shareholder
- 17. January 2012: 2012 Mileage Rates
- 13. January 2012: Vacation Homes - sometimes you don't declare the rent!
- 11. January 2012: How Often Does Tax Law Change....
- 26. December 2011: 2012 Payroll Tax Cut Extended 1st Two months
- 27. November 2011: Ballgames - can you deduct?
- 15. November 2011: WHAT IS HIGH DEDUCTIBLE HEALTH PLAN
Blogroll
- March 2012
- February 2012
- January 2012
- December 2011
- November 2011
- October 2011
- September 2011
- August 2011
- July 2011
- June 2011
- May 2011
- March 2011
- February 2011
- January 2011
- December 2010
- November 2010
- September 2010
- August 2010
- July 2010
- June 2010
- March 2010
- February 2010
- January 2010
- December 2009
- November 2009
- July 2009
- March 2009
- February 2009
Archive for November 2011
Ballgames - can you deduct?
27. November 2011 by admin.
Now that the NBA fiasco is settled, can you deduct the cost of tickets?
The answer is YES either as (1) business entertainment or (2) a business gift.
• If you attend the game with the business client, the cost of the tickets can be deducted only as business entertainment. To qualify, the entertainment must be “directly related to” or “associated with” the conduct of business. A game that precedes or follows a substantial business discussion is “associated with”.
• If you are like me and cannot attend all the games, and you give the tickets away to a client or potential client, you have a choice:
The expense may be deducted as business entertainment or a business gift.
Key differences:
Business Gift: The deduction for a business gift is limited to $25 per person a year.
Entertainment: There is no dollar limit on entertainment expenses, but only 50% of the cost is deductible.
Posted in International Taxation, Newsletter Topics, Sub S Corporations, LLC's, Income Tax, General | 1 Comment »
WHAT IS HIGH DEDUCTIBLE HEALTH PLAN
15. November 2011 by admin.
For 2011, the health plan will have a minimum annual deductible of $1,200 for single coverage and $2,400 for family coverage.
The annual out-of-pocket maximum is no more than $5,950 for single coverage and $11,900 for family coverage.
Posted in Retirement Accounts, Newsletter Topics, Income Tax, General | 2 Comments »
HSA 2011 Contributions
15. November 2011 by admin.
2011 Maximum HSA Contributions
Individual contribution
$3,050
Family contribution
$6,150
Catch-up contribution (over age 55 and not enrolled in Medicare)
$1,000
The IRS has determined that the change in inflation was not significant enough to result in adjustments to the 2011 limits on Health Savings Account contributions.
Also, see WHAT IS HIGH DEDUCTIBLE HEALTH PLAN
Posted in Retirement Accounts, Newsletter Topics, Income Tax, General | 1 Comment »