The biggest tax increase on small business in HISTORY 1/1/2011

If you own an "S" Corp., or LLC taxed as an "S" Corp., listen up, big changes are coming...

The biggest tax increase on small business in HISTORY-1/1/2011

posted by Roger Herring at The Investor's Accountant Speaks - 12 hours ago
Late last month, the House of Representatives passed the American Jobs and Tax Loopholes Closing Act of 2010. It is now in the Senate and will become law by the end of summer. This law contains a major cha...

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Health care law's massive, hidden tax change

 The bill makes two key changes to how 1099s are used. First, it expands their scope by using them to track payments not only for services but also for tangible goods. Plus, it requires that 1099s be issued not just to individuals, but also to corporations.

Stealth IRS changes mean millions of new tax forms

Courtesy of the health care reform bill, every business in the country is about to undergo a dramatic change in how expenses are reported. These changes promise to be an accounting nightmare for virtually everyone.
A recent article in CNNMoney.com focuses on one provision of the health care bill. This simple change is designed to help close the estimated $300 billion gap between what individuals and businesses owe the Internal Revenue Service versus what they pay.


6-23 UPDATE:

posted by Roger Herring at The Investor's Accountant Speaks - 1 day ago
I am happy to report that the bill containing the S Corp nightmare is currently stalled. Now would be a great time to review my earlier posts and to call your congressmen and senators and tell them to "Sav...
posted by Roger Herring at The Investor's Accountant Speaks - 3 hours ago
The bill containing the S Corp nightmare has been tabled. It is not dead, just delayed. This action was narrowly passed yesterday in fear of a GOP filibuster. HR 4213, AKA the American Jobs and Tax Loopho...

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posted by Roger Herring at The Investor's Accountant Speaks - 23 hours ago
Asset protection in a single member LLC may be a myth. How? Its called reverse penetration. Consider this: You form the single member LLC for a business or an income producing asset. The LLC is designed t...

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