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Dear Tax Payer, If you are lucky enough to be offered the opportunity to take a job overseas, there are some important tax rules for the exclusion of income and living expenses that you should be aware of that can have a determining effect on your decision. Please read the following article that explains these…
Dear Business Owner, As an employer, have you have considered offering your employees a pre-tax Cafeteria Plan as an employee benefit? If so, then read the article below to learn more about this tax saving employee benefit that is relatively inexpensive to set up and administer. Sincerely, Dean R. Holland, CPA President Holland…
Dear Tax Payer, The new year brings the enactment of over 200 new Illinois laws that go into effect on January 1, 2014. These new laws include increasing the state’s speed limits, legalizing medical marijuana, greater transparency and scrutiny of the expenditures of government grants, and the banning of cell phone use while driving. The…
Dear Business Client, The IRS just released the new mileage rates for business use, medical and charity use. The business use rate will decrease from 56.5 cents per mile to 56 cents per mile effective January 1, 2014. Below is an article related to the 2014 mileage rate changes and how it may affect your business. …
Dear Business Tax Payer, As year-end approaches, corporations could benefit from the following “last minute” tax-saving moves, including adjustments to income to preserve favorable estimated tax rules for 2014, deferral of certain advance payments to next year, and fine-tuning bonuses to make the most of the Code Sec. 199 domestic production activities deduction. The following…
Dear Client: As the owner of a business, you should be aware that you can save family income and payroll taxes by putting junior family members on the payroll. You may be able to turn high-taxed income into tax-free or low-taxed income, achieve social security tax savings (depending on how your business is organized) and…