Posts by Rick Howard
Adjust Your Payroll Withholding with Form W-4
Clients often ask , “How many allowances should I claim on my W-4?”. This may sound like a simple question, but it is very difficult to answer. The bottom portion of page 1 Form W-4 (the portion you give your employer) appears to be very straight forward. You can check in Box 3 whether you…
Read MoreMinimize 2013 Income Tax Now. Don’t Wait Until April 15th.
If you wait until April 15th to try and reduce your 2013 income tax, there will be very few things you can do. Now, before December 31st, review your situation and take action to minimize your 2013 income tax. Unlike the end of 2012, Congress isn’t still debating tax law changes. We know what the…
Read MoreEquipment & Property Purchases: Expense or Capitalize?
You just purchased computer equipment. Can you expense the purchase this year? Or must you capitalize the purchase? T.D. 9636 came out in September 2013 and was published in Internal Revenue Bulletin 2013-43 on October 21, 2013. It “contains final regulations that provide guidance on the application of sections 162(a) and 263(a) of the Internal…
Read MoreSharing or Transferring Large Files
Do you need to transfer a large file? Clients often need to send us a big file (ie- QuickBooks backup file) but are limited by file size restrictions for email attachments. Here are some ways that you can send large files for free. Whether it is scanned documents into tif or pdf formats, or a…
Read More“No Penalty…” Maybe. Maybe not.
One of our clients was told by his insurance company that there is no penalty for not sending the (Obamacare) letters. He asked what my thoughts were on this. Here is a copy of my response: “Yes, that is what I have heard also. I mentioned in my email that I originally sent you that…
Read MoreFAQ Obamacare Letters due October 1st
We have had a few clients ask about the “Obamacare Letters” that are due October 1, 2013. I am providing you the following information to assist you in determining whether or not you need to comply with this notification requirement. Even if your businesses has fewer than 50 full-time employees and you most likely will…
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