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Affordable Care Act: Premium Tax Credit and Individual Shared Payment Reporting – Are you ready?

By taxingtimes on Feb 11, 2015 in International, irc, IRS, Obama care, Tax, Tax Day, Taxpayers

By: Joe Zitzka As we roll into tax filing season, have you considered how to handle the new Affordable Care Act reporting requirements? For the 2014 tax year, taxpayers will now be required to report health care coverage on their tax returns. There...

Targeting Overseas Earnings

By taxingtimes on Feb 5, 2015 in code, Congress, Foreign Operations, government, International, IRS, Obama care, Tax

By: Amanda Wilson As I was driving in to work this morning, I was listening to a story on the radio about the country's aging infrastructure. The interesting part (at least to a tax lawyer ), was the statement by Transportation Secretary Anthony...

Don't Break the Bank

By Amanda Wilson on Feb 3, 2015 in code, irc, IRS, LLC, Partnership Tax, Tax

By: Amanda Wilson Because of the significant flexibility and tax benefits associated with partnerships, many businesses utilize partnerships in some shape or form. For tax purposes, a partnership can be in the form of a general partnership, limited...

Is Your Compensation Reasonable?

By taxingtimes on Jan 12, 2015 in Business Owners, IRS, S Corporation, Tax

By Amanda Wilson If you are an employee of a company for which you are also an owner, you should consider reviewing your current compensation for its reasonableness. It is very common for small businesses to be formed as Subchapter S corporations....