CPA Blog

CPA & Accounting Topics for Business

IRS Changes Filing Deadlines for W-2 and 1099

IRS Changes Filing Deadlines for W-2 and 1099
This year some changes will be made to filing deadlines for IRS Form W-2 and some types of Form 1099. The changes are the result of The Protecting Americans from Tax Hikes (PATH) Act of 2015 signed by President Obama. If you’re an employer, you’re probably accustomed to a January...
Continue reading
  391 Hits

IRS Changes Filing Deadlines for W-2 & 1099 Forms

IRS Changes Filing Deadlines for W-2 & 1099 Forms
Fisher CPA Firm has years of experience in Tax, Accounting, Bookeeping and is located in The Woodlands, TX   This year some changes will be made to filing deadlines for IRS Form W-2 and some types of 1099. The changes are the result of The Protecting Americans from Tax Hikes...
Continue reading
  1389 Hits

ATTN ALL BUSINESS OWNERS: Accounting Method Change Required by the IRS

ATTN ALL BUSINESS OWNERS: Accounting Method Change Required by the IRS
Final Tangible Property Regulations For decades, the IRS and taxpayers have fought over expenditures classified as Repairs vs. Capitalization. You, the SMB owner, want to write off your expenditures as repairs to reduce your taxes, while the IRS wants you to capitalize your expenditures forcing you to depreciate that expenditure...
Continue reading
  4179 Hits

Individual Mandate... Buy Insurance or Pay Penalty? - Houston CPA Firm

Individual Mandate... Buy Insurance or Pay Penalty? - Houston CPA Firm
Beginning April 1, 2014, the Individual Shared Responsibility provision (AKA the Individual Mandate) of the Affordable Care Act calls for each applicable individual to either buy minimum essential health coverage or pay a penalty when filing their federal tax return. However, many of those who are not exempt from this...
Continue reading
  677 Hits

Affordable Care Act Notices Due Oct 1st or Pay Penalties - Houston Business CPA

Affordable Care Act Notices Due Oct 1st or Pay Penalties - Houston Business CPA
Beginning October 1st, all employers will be required to provide informational notices to all employees regarding the health insurance marketplaces (formerly known as Exchanges) created under the Affordable Care Act. This applies to all employers covered under the Fair Labor Standards Act, who have 1+ employees, and at least $500,000...
Continue reading
  691 Hits

Changes Are Coming... No Matter What!

Changes Are Coming... No Matter What!

Last week, the Supreme Court heard three days of arguments regarding the constitutionality of the Health Care Act of 2010. The Supreme Court will release its decision in June. As I see it, the options the court has are to uphold the law in its entirety, throw out all of it, or cut parts of it. Whatever the decision, we will do our best to keep you abreast of the impact upon you, the small business owner.
Whatever the courts decision, the impact upon you, the small business owner, is significant and you will have to make changes to comply with the law.

But the Supreme Court case underscores the challenges our county is facing, what is coming is the potential for significant change. In fact, as a nation....

......Change and Instability is all Around Us
These are truly historic times we are living in. We have:

Continue reading
  758 Hits

E-file Now Required by IRS

E-file Now Required by IRS

Tax season is beginning and there are lots of changes this year. Besides the normal "book" of tax law changes, the IRS has added more forms, more questions that must be answered on tax returns, more due diligence is expected by tax preparers and e-file is required if your tax return is prepared by a professional tax preparer authorized to prepare returns by the IRS. The IRS is not making our jobs easier as tax preparers. They are certainly not making the tax code more understandable and no one disputes that fact!

The change we all understand is the move towards e-filing which makes processing returns at the IRS much more efficient. But even the IRS can make that process a little bit complicated. This year virtually all paid tax preparers must electronically file federal income tax returns for individuals, trusts, and estates starting January 1, 2011. Like all requirements, there is a loop hole, but it takes another form to be filed to get out of e-filing your return. If you choose to not e-file your individual income tax return that we prepared you must sign a waiver form and send it to us. You also must attach this waiver with the paper return and send it to the IRS.

Continue reading
  1056 Hits