Monthly Archives: November 2011

Ballgames – can you deduct?

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 … Continue reading

Posted in General, Income Tax, International Taxation, LLC's, Newsletter Topics, Sub S Corporations | 409 Comments

WHAT IS HIGH DEDUCTIBLE HEALTH PLAN

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 General, Income Tax, Newsletter Topics, Retirement Accounts | 3 Comments

HSA 2011 Contributions

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 … Continue reading

Posted in General, Income Tax, Newsletter Topics, Retirement Accounts | 296 Comments