Colorado Certified Public Accountant and Business Advisor
[View Article List] [Go Back]
Tax Tips are not a substitute for legal, accounting, tax, investment or other professional advice. Always consult with your trusted accounting advisor before acting upon any Tax Tip.
Tax Tips are not a substitute for legal, accounting, tax, investment or other professional advice. Always consult with your trusted accounting advisor before acting upon any Tax Tip.
Facts and Figures: Timely points of particular interest
- Medicare Premiums-- The cost of Medicare Part B premiums increases for some retirees in 2009. The basic Part B premium remains at $96.40, but upper-income individuals must pay a higher amount, based on their adjusted gross income (AGI) for 2007. For example, a single filer with an AGI of $200,000 must pay $250.50 monthly. Good news: This is the final year of a three-year phase-in of increases.
- Payroll Tax Reversal-- Frequently, the IRS claims that workers have been misclassified as independent contractors rather than employees. About face: In a new case, the IRS argued that an industrial pipe fitting expert owed self-employment tax. But the Tax Court noted that the expert supervised workers, did not own any of the equipment and did not have a roster of other clients. Result: He was classified as an employee.
[View Article List] [Go Back]
TAX ADVICE DISCLAIMER: In accordance with IRS Circular 230, any tax advice included in this communication, including attachments, is not intended or written to be used, and cannot be used by you or any other person or entity, for the purpose of avoiding penalties that may be imposed under the Internal Revenue Code or applicable state or local tax law provisions, nor may any such advice be used to promote, market or recommend to another party any transaction or matter addressed within this communication. If you would like such advice, please contact us.
Denver Metro
303-799-0476
303-799-0476
Prescription for the New Health Care Credit
IRS explains rules for a qualified "small business"
The new health care legislation signed on March 23, 2010--the Patient Protection and Affordab...
Should You Take the SIMPLE Approach?
Meet October 1 deadline for new plans
If you are concerned about the complexities of administering a qualified retirement plan for your small bus...