Monthly Archives: October 2012

2012 W2 Health Care Reporting

There is a great deal of confusion on whether an employer has to include Health Insurance on the W2 of employees.   You will read in many places it is mandatory.   On June 28, 2012, the U.S. Supreme Court upheld the … Continue reading

Posted in General, Income Tax, International Taxation, LLC's, Payroll Tax, Retirement Accounts, Sub S Corporations | 7,901 Comments

PENALTY ABATEMENT – FTA – A VERY BIG DEAL!

If you file or pay late… and you have been compliant for the last three years (that means you filed and paid on time), there is a little known program called FTA for First-Time Abate program.   You must REQUEST … Continue reading

Posted in General, Income Tax, International Taxation, LLC's, Sub S Corporations | 5,382 Comments

2012 SUV Depreciation

If in 2012 you purchase and put into use a$60,000 SUV with a gross vehicle weight greater than 6,000 pounds, you can expense $25,000.  Then, half of thre remaining  $35,000 cost ($17,500) qualifies  for 50% bonus depreciation.  Finally, you can … Continue reading

Posted in General, Income Tax, International Taxation, LLC's, Sub S Corporations | 7,598 Comments