News - John R. Dundon II, Enrolled Agent
368
paged,page-template,page-template-blog-large-image-simple,page-template-blog-large-image-simple-php,page,page-id-368,paged-37,page-paged-37,theme-bridge,bridge-core-2.5.4,ajax_fade,page_not_loaded,,qode_grid_1300,footer_responsive_adv,qode-content-sidebar-responsive,qode-theme-ver-23.9,qode-theme-bridge,qode_header_in_grid,wpb-js-composer js-comp-ver-6.7.0,vc_responsive,elementor-default,elementor-kit-269
 

News

The benefits available to a self-employed individual in a solo 401(k) plan have increased. The self-employed individual can contribute to the solo 401(k) plan two ways: Through elective deferrals limited to the lesser of $16,500 or 100% of the self-employed individual’s compensation for 2011 and 2012. Through...

The small employer health insurance credit is applied for on IRS Form 8941.  The credit itself is based on the non-shareholder staff, their hours worked, wages and the premiums paid for them. The hours worked, wages and health insurance premiums of shareholders are not taken...

The Social Security Administration has announced the new benefits and thresholds for 2012 as follows: Gross Social Security benefits increase for 2012 by 3.6%.  The amount of earnings subject to Social Security taxes increases to $110,100.  The amount of earnings required to be subjected to Social Security taxes...

Employment taxes withheld by your employer are considered 'trust fund' taxes. I'm not entirely sure of its origin but I think the term trust fund tax is used because the US Treasury considers employment taxes withheld from your paycheck the US federal government's money and...

The Affordable Care Act increased the amount of the Adoption Tax Credit and made it fully refundable, which means it can increase the amount of your refund or decrease the amount of your tax liability in the immediate tax year. Additionally: The adoption tax credit, which is...

If you rent a house or condominium to someone for less than 30 days in Colorado it is likely sales tax is owed on that rental. There may also be other taxes owed as well including line items for a county lodging tax etc. If you...

IRS Rev. Proc. 2011-52 states that the federal estate tax exemption will increase from $5,000,000 to $5,120,000 for the estates of decedents who die in 2012. Subsequently the lifetime gift tax and generation skipping transfer tax exemptions will increase from $5,000,000 to $5,120,000 in 2012 as well. ...

I blog today about 401(K)'s from a tax perspective solely keeping in mind that my license is as an Enrolled Agent with the US Treasury.  With that as a basis the benefits available to a self-employed individual in a solo 401(k) plan have increased. The...

The IRS Advance Pricing Agreement (APA) Program, concerned exclusively with reaching pre-filing agreements with taxpayers on transfer pricing, will shift from the office of IRS Chief Counsel to an office under the Transfer Pricing Director in the Large Business & International division’s international operation. In...

Share