New Mileage Rates
Author: SKSM
Date: 10/25/2011
There are new mileage rates for remainder of 2011. 55.5 cents for business and 23.5 cents for medical and moving.
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1099 Reporting News
Author: SKSM
Date: 10/25/2011
The enhanced 1099 reporting that was going to take effect for businesses and rental properties has been repealed. Therefore, the 1099 reporting requirements for 2011 are the same as they have been for many years.
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Health Insurance Tax Credit
Author: SKSM
Date: 10/25/2011
Small businesses with less than 25 employees may quality for a credit if you offer health insurance to your employees and are paying at least 50% of the premiums.
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New Jobs Credit
Author: SKSM
Date: 10/25/2011
The California New Jobs Credit is still available for those employers who had 20 or fewer employees in 2009 and added new employees for 2010.
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S-Corp Salary
Author: SKSM
Date: 10/25/2011
A court has recently concluded that an S corporation owner's $24,000 salary was unreasonably low. This case shows the importance of taking a reasonable salary. See SKSM letters on our website for more info.
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