CPA Magazine - April/May 2013 Email Edition

CPAs Hard to Find for SSAE 16/SAS 70 Audits
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Retirement Income Can Impact Medicare Surtax on Net Investment Income

Sid KessTaxes and Retirement Income
Individuals may receive a variety of income when they retire. Different tax rules apply, depending on the type of income involved. Rules may vary for federal and state income tax purposes. And, starting this year, retirement income can impact the additional Medicare surtax on net investment income. Here is a roundup...

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Don’t Assume Social Security Benefits Are Taxable

Julie WelchUp to 85% of Social Security benefits can be taxed. However, it is possible that no Social Security benefits is taxable.
To determine how much of your client’s Social Security benefits is taxable, you must figure your clients modified adjusted gross income. Generally, the modified adjusted gross income is the sum of:
•  income
• One-half...

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Liberty Tax

Liberty Tax Service

Thinking about buying a franchise? This white paper offers a step-by-step process on what you can expect when it’s time to sign on the dotted line. A quick read-through will explain the actual business process. You may just gain helpful information and be more confident in your decision. To learn more…


Steps to Effective IRS Audit Resolution

DavidoffWhen taxpayers receive the dreaded notice that their business is going to be examined by the Internal Revenue Service (“IRS”), the first thing they do is seek your advice. If you prepared the return, you already know there is nothing to worry about because the tax return is perfect in every way!  So, of course, for the purposes of this column,...

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Small Business Gets Tax Credit for Providing Health Insurance

mug_jerry_loveThe Affordable Health Care Act (AHCA) is being called the most historic overhaul of the U.S. health care system since Medicare and Medicaid.  After its passage, many people believed the law would never go into effect because either the Supreme Court would overturn it or Congress would repeal it.  Now that the general consensus has shifted...

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CPA's Role in Estate Planning Post-ATRA

Martin ShenkmanIntroduction
 SALY (same as last year) can be a recipe for disaster if you don’t verify the current state of facts. The American Taxpayer Relief Act of 2012 (ATRA) has dramatically, and forever, changed the face of estate planning. Practitioners are no doubt familiar with the key changes (permanent $5 million inflation adjusted exemption,...

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prosper April May

 

Tax Season 2013
April/May 2013

In This Issue
 
 
 

Topics for Uncertainty in Business Tax

Significant Federal Tax Considerations for 2012 Health Care+

IRS, OIC & eServices Update

Notable Tax Updates for Deductions & Gift Taxes

And more...