01/29/2011 A client emailed a notice she received from one of her online vendors. It stated, “This notice is being sent to comply with Colorado Regulation 39-21-112.3.5 recently enacted in 2010. This regulation requires out-of-state retailers to send a summary invoice on or before January 31st to Colorado customers with more than $500 in purchases… Continue Reading
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Monthly Archives: January 2011
Update – S Corporation Shareholder Health Insurance and State Unemployment
01/28/2011 We have had tons of activity on the S corporation shareholder health insurance issue. Here is an update related to State Unemployment–at least here in Colorado. The State of Colorado has taken the position that health insurance premiums of S corp shareholders IS includible in gross wages for unemployment. It is NOT includible for… Continue Reading
ObamaCare Taxes the Sale of Your Home – or does it??? Debunking
01/27/2011 You gotta love the Internet. Information (and dis-information) on steroids coming at us 24/7. I started getting emails from clients in the fall with forwarded messages of doom, that ObamaCare promised to tax one of our nation’s most sacred tax “loopholes” – the gain on the sale of our principal residences – in order… Continue Reading
Payroll Tax “Holiday” – Social Security Only
01/10/2011 A client called today positive that she had found a glitch in QuickBooks payroll software — the Social Security deducted at the employee level did not equal the Social Security calculated for the employer. Yep, I told her, it is right. Here is the deal. For 2011 ONLY, Congress decided to allow wage earners… Continue Reading
Tax Season Delays – Are You Impacted? (and April 18 filing date)
01/01/2011 Congress waited until the LAST POSSIBLE MOMENT to act on the Bush tax reduction extenders and other tax relief legislation recommended by the Obama Administration. The President signed the new legislation into law on December 17 . This has put a wrench in the works for virtually 100% of our clients. We are going… Continue Reading