Tag Archives: New Business Tax

Tax Planning for the 3.8 Percent Medicare Tax: Tax Tip Number Seven

Our final tax tip is here for strategizing against the 3.8% Medicare tax to fund Obamacare. As we indicated in our previous blogs, the additional 3.8% tax on investment income, commencing in 2013, affects individuals with modified adjusted gross income (MAGI) of $200,000 or more and married couples with a MAGI of at least $250,000. If you fall into one… (more…)

A tax to-do list for new & existing businesses

The IRS wants business owners to be aware of their tax obligations.  Among the common tax issues that can trip up business owners: * CLASSIFICATION OF WORKERS. Determining whether workers are employees or independent contractors is a matter of law, not the choice of the worker or the  employer. * FEDERAL EMPLOYMENT TAX DEPOSITS. Called trust fund taxes, these deposits… (more…)