Health Insurance Deduction Did you know that for 2011, there is a self-employed health insurance deduction? Eligible self-employed individuals and S-corporation shareholders can use the self-employed health insurance deduction to reduce their income tax liability. It’s not too late the claim the deduction if you’re eligible. Who is covered? The deduction includes premiums paid for [...]read more
Posted Wednesday, January 18, 2012Feds Approve Payroll Tax Cut Extension Nearly 160 million workers will benefit from the extension of the 2011′s reduced payroll tax rate into 2012. The Temporary Payroll Tax Cut Continuation Act of 2011 temporarily extends the two percentage point payroll tax cut for employees, continuing the reduction of their Social Security tax withholding rate from [...]read more
Posted Friday, December 30, 2011As a small business owner, you know that December isn’t just about holiday festivities and the holiday season. December is also another small business accounting season. It’s when you need to compile and prepare year end documents for your CPA, so he or she can file everything for you before the upcoming deadline. Which accounting [...]read more
Posted Friday, December 9, 2011December Small Business Bookkeeping Tip All businesses are required to give a Form 1099 to any service provider that the business paid for services provided during the calendar year. The deadline to issue 1099′s is January 31, so now is the time to make sure you have all W-9’s completed with current addresses and tax [...]read more
Posted Tuesday, December 6, 2011
I am a licensed CPA in both New York and Massachusetts, and a member of the American Institute of Certified Public Accountants.