Week of February 6, 2012 Depreciation update for 2012
If you bought business assets in the past few years, you probably noticed more than one change to the immediate expensing depreciation rules. While the trend has been toward higher deductions, opportunities for writing off the cost of assets under federal rules presently in effect for 2012 are less generous. Here are the new limits...
February 2012 What you need to know about life cycle funds
"Like the college student who refuses to consider his impending entry into the labor market, many Americans take a head-in-the-sand approach when it comes to retirement planning. They don't contribute enough to 401(k) plans, and they don't periodically rebalance their investments to protect contributions and generate a reasonable rate of return...
For more information about Health Care Reform as it will affect you as a Small Business, Individual, or High Income Tax Payer, please see the appropriate tabs to the right.
Small Business
Small Business
For owners of small businesses and their workers, the recently enacted health reform legislation has some key provisions to pay attention to. The major ones include: tax credits; excise taxes; and penalties. But whether a business will be affected by them depends on a variety of factors, such as the number of employees the business has. Here is an overview of the provisions in the new law with the biggest impact on small business.
Unfortunately, high-income taxpayers will be hit with two big tax hikes under the recently enacted health overhaul legislation: a tax increase on wages and a new levy on investments.
The perfect fit is our promise at HR&R. We’re organized to serve as comprehensive advisors to individuals and businesses of all sizes. We begin with the pieces of the puzzle you have at your disposal and add the pieces we have, creating a complete picture of where you’re looking to go tomorrow.
NEW FOR 2011
Pennsylvania is requiring you to report the amount of Use Tax you have not paid in 2011 with your Pennsylvania Individual Income Tax Return. If you have records of purchases where you are subject to Use Tax, please send that information in with your tax information. If you are confident you did not have any purchases in 2011 subject to Use Tax, please let us know that.
If you are not aware of the amount, Pennsylvania offers a table to use based on your taxable income. This table is for purchases of less than $1,000 only. The amounts on the table run from $6 to $94 depending on your income and which County you live in. Examples of items subject to Use tax are... READ MORE
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At HR&R, our experts are proud to offer their expertise and opinions on a variety of matters to the local, regional and national media. We've compiled some of our more recent media for our home page visitors to take a look at and enjoy below.
If you have any questions about the topics covered below or if you want one of our experts to speak to you, please don't hesitate to give us a call or drop us an email. We look forward to hearing from you.
No one likes to see a policeman's flashing lights in the rearview mirror, and no one likes to receive a phone call or letter from the dreaded auditor. But if you operate a business or your organization receives federal or state grants, at some point you may find auditors making that contact. And while it's true that only a small percentage of individual taxpayers suffer through an IRS audit in any given year, it makes sense to be prepared—just in case. One key to being ready is knowing how auditors think...
February 2012 Security is vital for your electronic mobile devices
Linger awhile at any subway terminal, airport, college classroom, or business and you're sure to spy a wide variety of electronic gadgets perched on people's laps or glued to their ears. Smart phones, tablets, and other types of mobile computing devices are becoming ubiquitous. The increasing use of such devices to surf the Internet, contact friends, conduct business, and store vast amounts of personal data make them a tempting target for thieves. Whether a crook walks off with your mislaid iPad or breaks into your mobile device via a bogus application or "app," the results are potentially devastating. Bank accounts may be compromised, confidential business data divulged, or reputations ruined...
