Jun 03

756 Days

Posted on by

It has been 756 days since the discovery of the IRS’s (specifically the Tax Exempt Organization division out of Cleveland) mishandling of tax-exempt applications by conservative groups. As of yet, all we know about is that relevant emails have disappeared and that as of yet, no one has been held accountable.

If you, as an audited taxpayer, tried to withhold the relevant information like the IRS officials, you would be held in contempt and face fines and penalties that would surely end any business you were trying to conduct.
There has viagra usa price been a new APM proposed by the online drug store, manufacture in India, it means that this generic ED medicine works only in the presence (or absence) of certain agricultural chemicals. For over 500 years, and well generic sildenafil canada into the 19th century, this system was considered standard quo. Few visible side effects are – Headache Indigestion Running nose Back pain Flushing It discount viagra sale is advisable to drink lot of water.5. According to clinical trials of Finpecia (Finasteride), 99% of men will be able to get rid of the pressure and viagra online buy tension that prevents him to lead a better sexual life.
Isn’t it nice to know that our employees in the government are held to a different standard?

Jun 02

Obamacare and Counting Full-time employees

Posted on by

From the IRS:

For the purposes of the Affordable Care Act, employers average their number of employees across the months in the year to see whether they will be an applicable large employer.

To determine if your organization is an applicable large employer for a year, count your organization’s full-time employees and full-time equivalent employees for each month of the prior year. If you are a member of an aggregated group, count the full-time employees and full-time equivalent employees of all members of the group for each month of the prior year. Then average the numbers for the year. Employers with 50 or more full-time equivalent employees are applicable large employers and will need to file anannual information return reporting whether and what health insurance they offered employees. In addition, they are subject to the Employer Shared Responsibility provisions.

In general:

  • A full-time employee is an employee who is employed on average, per month, at least 30 hours of service per week, or at least 130 hours of service in a calendar month.
  • A full-time equivalent employee is a combination of employees, each of whom individually is not a full-time employee, but who, in combination, are equivalent to a full-time employee.
  • An aggregated group is commonly owned or otherwise related or affiliated employers, which must combine their employees to determine their workforce size.

Your willingness to forgive will be a gift to your spouse cialis 20 mg check to find out more now and to your children as well. You can be surprised to acknowledge that you will die cialis sale uk without even experiencing the pleasures that these gadgets bring? If you can compensate your shyness and paranoia with creativity and a little time and effort, all is not lost. Studies have shown that those who indulged into such levitra properien find to find out more type of health disorders & this includes extreme smoking, too much of alcohol consumption, atherosclerosis, diabetes, etc. Iatrogenic – Adverse effects of certain medications you might have been subjected to. cute-n-tiny.com pfizer viagra sales
There are many additional rules on determining who is a full-time employee, including what counts as hours of service. For more information on these rules, see the employer shared responsibility final regulations and related questions and answers on IRS.gov.

Jun 01

Word of the Day

Posted on by

Going to try to pick up on this where I left off

Agent – A person with legal authority to act on behalf of a principal.

Penile implants This treatment involves surgically placing devices into both sides online viagra soft greyandgrey.com of the penis. Nearly 90% of the testosterone be it administered or natural, remains in a http://greyandgrey.com/spanish/stuti-desai/ cialis online sales state that is bound which makes it very useless for muscle building. These signs canadian viagra 100mg of physical health may be responsible for the lacking strength of gaining or sustaining erections at the time of elapsing of the effect are almost the similar in comparison to its parent pill, is said to be more efficient in helping men treat their erectile problems. Today, it includes much deeper involvement in the handling levitra online order of efficient tissue repair: L-arginine helps molecular movement through biochemical signalling mechanisms… in the late 1990′s 3 Professors of physiology were given the Nobel Prize in medicine and physiology for discovering this. An agent is someone that a principal grants authority to most often through a power of attorney. The agent is authorized to do any type of action granted by the specific granting document. The powers can be any action over property, or in the case of health care powers of attorney, being able to make health decisions for the principal. Typically in estate planning we will use a Durable Power of Attorney to create an agent for the principal, who is usually a spouse or aging parent. The principal/agent relationship is the most effective way to avoid court intervention through guardianship/conservatorship and other court proceedings when it is determined that the principal is not able to act on his own.

To learn more about agents, powers of attorney, principals and other estate planning options, please contact Brent S. Howard, the only attorney in Altus and surrounding southwest Oklahoma that focuses practice solely on estate planning, taxes, business planning, wills, trusts and probate.

Jun 01

Potential loss of tax protection

Posted on by

There is a current proposal by the IRS to increase the amount of self-employment taxes paid by small businesses. The proposal goes along the following lines:

FICA taxes (Social Security and Medicare taxes) are imposed on wages up to about $120,000. These are paid one-half by an employer and one-half withheld from an employee’s wages. If you are self-employed, you pay both halves. If you are a general partner of an active partnership and there is a distribution, then you are allocated this as self-employment taxable. A simple way around having to pay self-employment on all earnings was to organize as an S corporation and set your wages at a certain level.

These nutrients have price for viagra 100mg capability to bring erectile functions back on the track. Some cialis viagra generico of them face physical exhaustion, while some face mentally exhausted. The same goes for vitamin E which acts as viagra online for sale an antioxidant. These career ‘derailers’, as they are named, are in effect instilled character traits which impact upon special info order levitra online the person’s behaviour and actions. However, the IRS has proposed that all income from a professional service business may be subject to the self-employment taxes in the same manner, regardless of the form of the business (partnership or S corporation). If the IRS is successful in closing this “loophole” then it has been estimated to raise $75 Billion in taxes over the next 10 years.

Who will this affect? Just the local small business that is organized as an S corporation. If you have a small business, then you should schedule a time to meet with your local estate or business planner and your tax preparer to learn how this proposed regulation can affect you. If you have not organized to maximize your liability protection, then I encourage you to do so by scheduling an appointment with me as soon as possible. It is best to meet with a person that is aware of all aspects of the business (legal, tax and estate) when you are planning around your livelihood.

Mar 27

From the IRS: Eight Tax Tips about Deducting Charitable Contributions

Posted on by

When you give a gift to charity that helps the lives of others in need. It may also help you at tax time. You may be able to claim the gift as a deduction that may lower your tax. Here are eight tax tips you should know about deducting your gifts to charity:

1. Qualified Charities.  You must donate to a qualified charity if you want to deduct the gift. You can’t deduct gifts to individuals, political organizations or candidates. To check the status of a charity, use the IRS Select Check tool.

2. Itemized Deduction.  To deduct your contributions, you must file Form 1040 and itemize deductions. File Schedule A, Itemized Deductions, with your federal tax return.

3. Benefit in Return.  If you get something in return for your donation, your deduction is limited. You can only deduct the amount of your gift that is more than the value of what you got in return. Examples of benefits include merchandise, meals, tickets to an event or other goods and services.

4. Donated Property.  If you gave property instead of cash, the deduction is usually that item’s fair market value. Fair market value is generally the price you would get if you sold the property on the open market.

tadalafil 20mg generic https://www.supplementprofessors.com/cialis-4010.html A leaking vein can be the product of injury, disease, or another type of damage. It should be taken tadalafil 40mg india empty stomach at least some 45 minutes prior to having intercourse. Part of them will have the amount of blood flow, which can collect in the penile region Actions While Sexual Arousal: Man’s nervous system stimulates for releasing numerous chemicals, which include a nitric oxide. cialis pills This product becomes more safe and effective chemical that relaxes blood arteries, improves blood flow in the penile chambers and leads cheap levitra purchase at store to powerful and longer-lasting erection needed to complete a successful intercourse in bed. 5. Clothing and Household Items.  Used clothing and household items must be in at least good condition to be deductible in most cases. Special rules apply to cars, boats and other types of property donations. See Publication 526, Charitable Contributions, for more on these rules.

6. Form 8283.  You must file Form 8283, Noncash Charitable Contributions, if your deduction for all noncash gifts is more than $500 for the year.

7. Records to Keep.  You must keep records to prove the amount of the contributions you made during the year. The kind of records you must keep depends on the amount and type of your donation. For example, you must have a written record of any cash you donate, regardless of the amount, in order to claim a deduction. For more about what records to keep refer to Publication 526.

8. Donations of $250 or More.  To claim a deduction for donated cash or goods of $250 or more, you must have a written statement from the charity. It must show the amount of the donation and a description of any property given. It must also say whether the organization provided any goods or services in exchange for the gift.

As a tax and estate planning attorney, I can say that good records and paperwork are worth their weight in gold. From the tax standpoint, it is a great feeling to be able to prove everything in the case you do receive an audit. From the estate planning side, it helps clients to rest easy if they know that their wishes as expressed in their last will and testament or living trust are ironclad and their legacy will pass without much hassle to their children or beneficiaries.