Category Archives: International Taxation

Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts

The United States Department of Treasury has announced that beginning July 1, 2013, Form TD F 90-22.1 must be filed electronically by the taxpayer. To file the 2012 form after June 30, 2013, file the form through http://http://bsaefiling.fincen.treas.gov/Enroll_Individual.html

Posted in General, Income Tax, International Taxation, Newsletter Topics | 1,048 Comments

2013 Gifts

This is not about charitable donations to a 501(c)(3) organization. It is about just giving stuff away. How much can I give (gift) without any tax? $13,000 ( 2009 – present) is the amount of stuff that can be gifted … Continue reading

Posted in General, Income Tax, International Taxation, Newsletter Topics | 1,657 Comments

Club Dues – Deduction?

Business related meals and entertainment are deductible…. You cannot, however, deduct dues (including initiation fees) for membership in any club organized for pleasure, recreation or other social purposes.

Posted in General, Income Tax, International Taxation, LLC's, Sub S Corporations | 2,474 Comments

2013 Unemployment Tax – Florida & Federal

The FLORIDA taxable wage base for 2013 remains at $8,000.  This means the first $8,000 of each employee’s wage during the calendar year to taxed for Florida Unemployment Tax Purposes. The FEDERAL wage base for the same purpose is based on … Continue reading

Posted in Ask Question or Comment, General, Income Tax, International Taxation, LLC's, Payroll Tax, Sub S Corporations | 7,153 Comments

2013 Florida Minimum Wage

Effective January 1, 2013, Florida’s minimum wage is $7.79 per hour for all hours worked in Florida. For tipped employees the direct hourly wage is $4.77 as of January 1, 2013.

Posted in General, Income Tax, International Taxation, LLC's, Payroll Tax, Sub S Corporations | 6,113 Comments

Chartered Global Management Accountant status awarded (CGMA)

AICPA (Association of International Certified Professional Accountants) and the American Institute of Certified Public Accountants (also known as AICPA) have awarded the CGMA (Chartered Global Management Accountant) status by fulfilling all the established requirements of eligibility and demonstrating the necessary … Continue reading

Posted in General, Income Tax, International Taxation, LLC's, Newsletter Topics, Payroll Tax, Retirement Accounts, Sub S Corporations | 6,878 Comments

2013 Standard Mileage Rates Up 1 Cent per Mile for Business, Medical and Moving

IRS today issued the 2013 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2013, the standard mileage rates for the use of a … Continue reading

Posted in General, Income Tax, International Taxation, LLC's, Sub S Corporations | 7,830 Comments

Bush-era Tax Cuts to expire at end of 2012

Reduced maximum capital gains rate expires Taxation of qualified dividends at capital gain rates will not apply Accumulated Earnings Tax increases to 39.6 (that is for “C” Corporations with lots of Retained Earnings–you know who you are) Personal holding company … Continue reading

Posted in General, Income Tax, International Taxation, LLC's, Payroll Tax, Sub S Corporations | 9,602 Comments

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