What should you look for in a tax preparer? FIrst things on my list are:ExperienceThe ability to discuss issues and being on the same wavelengthMaking complex issues understandableHere is an article in NFIB – see what they think:http://www.nfib.com/business-resources/business-resources-item?cmsid=20366I still have appointments available, so call me if you want to talk about your taxes.You can count on us to count for you!
Brian’s Tax Musings – How the payroll tax cut extension is stalling
Well, I can safely say that the payroll tax cut is ‘in process’ – other than that who knows? The parties are still playing politics as usual so nothing has happened. See this article in the New York TImes by Jennifer Steinhauer and Jonathan Weisman:http://www.nytimes.com/2012/02/08/us/politics/in-congress-talks-on-payroll-tax-cut-extension-at-impasse.htmlRemember only $18350 in wages per employee is allowed the 2% tax cut.You can count on us to count for you!
Brian’s Tax Musings – Form 1099K
Do you have to file a 1099K? It is the new form which if you are a bank or a “third party settlement organization” you may have to report sales processed through you on form 1099K to the recipients of this money. If you take credit cards or paypal payments in your business you may receive at 1099K, but you probably will not have to file one. If you have to file a 1099K for services, you will not have to report this money on a 1099MISC. Here ia an article by Dale Pettit in Thompson Reuters corporate newsletter that discusses this a little further:http://onesource.thomsonreuters.com/resource-center/july-2011/newsletter-article6/Here are the IRS filing instructions for the 1099K:http://www.irs.gov/pub/irs-pdf/i1099k.pdfJust like other 1099s they are due to be filed February 29, 2012.You can count on us to count for you!