Tax Tips & News: health care

Is Your Small Business Taking Advantage of Tax Deductions?

5 minutes read

As a small business owner, this is the time of the year to begin thinking about the tax filing deadline. According to a study commissioned by the U.S. Small Business Administration (SBA), small businesses in the United States pay an effective federal tax rate of 19.8%. Sole proprietors pay the smallest effective rate of 13.3% while partnerships and Subchapter S Corporations classified as small businesses pay an effective rate of...

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IRS Plans To Increase Audits Of Small Businesses

4 minutes read

The IRS recently announced that it plans to increase audits of small businesses in the hopes of closing a $450 Billion gap.  This announcement is interesting because it come on the heals of a recent report that most audits of small businesses turn up nothing.  The eight significant audit areas the IRS will be concentrating are:

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Tax Implications Of The Affordable Care Act

5 minutes read

The Supreme Court recently ruled that the Patient Protection & Affordable Care Act (PPACA) is constitutional.  So what does this mean for taxpayers?  A lot.  Almost every taxpayer–whether they currently have or do not have insurance–will be affected; assuming of course that the PPACA remains the law of the land. Below is a list that will impact taxpayers the most:

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10 New 2011 Tax Laws

10 minutes read

The good news for taxpayers working on their 2011 tax returns is there aren’t many major surprises this filing season.

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