Site Search
-
Recent News and Blog Posts
-
From our clients:
“We have been receiving excellent advice and service from WDJ for over ten years. Jane Burns and Pat O’Neill have helped us recognize the tax benefits that are available to us and have given us the guidance we have needed to remain in compliance with tax law and maintain sound accounting practices.”
— Keith Culotta
Computer Dimensions, Inc -
CPA Consulting Services for:
Category Archives: Tax
Reconcile Your Credit Card Statements
Properly accounting for and reconciling credit card statements are good accounting practices and part of a fraud prevention and detection program. QuickBooks will keep track of your credit card purchases much the same way that it keeps track of activity for your … Continue reading
Posted in Fraud, QuickBooks, Tax
Comments Off
Congress Votes to Repeal New 1099 Requirement
The Senate and House have approved a measure that would repeal the expanded Form 1099 reporting requirements that were part of last year’s health care law. The move has broad support because the Form 1099 rules, which are set to require businesses … Continue reading
Posted in Tax
Comments Off
Section 199 Manufacturing Deduction
If your business didn’t meet the requirements in the past to claim a manufacturing deduction or you determined that it wasn’t worth the time, maybe you should reconsider it. One of the most compelling reasons is because the 9% deduction is … Continue reading
Posted in Tax
Comments Off
Medicare Part B Now Deductible as SE Health Ins.
According to page 29 of the 2010 Form 1040 Instructions, “Medicare Part B premiums can be used to figure the [Self-Employed Health Insurance] deduction” That’s a change from 2009 Form 1040 instruction where on page 39, it stated “Medicare premiums cannot … Continue reading
Posted in Tax
Comments Off
IRS Agents Requesting QuickBooks Data File
During a recent examination…, the agent requested a copy of the QB file and told me they will be specifically reviewing the QB audit trail. He said they want to see if there were any significant changes to the transaction coding in the days leading up to the audit appointment. Continue reading
Posted in QuickBooks, Tax
Leave a comment
IRS Delay in Processing Tax Returns Until Feb 14th
The IRS announced a delay in its ability to process some tax returns affected by late-year changes to the tax law, which involve: State and local sales tax deductions The higher education tuition and fees The educator expenses deductions Schedule A … Continue reading
Posted in Tax
Comments Off
One Year Payroll Tax Reduction
The biggest new tax break for individuals in the recently enacted “Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010” is the one-year payroll tax reduction. Under this new provision the payroll tax will be cut by two … Continue reading
Posted in Tax
Comments Off
Tax Deal Details
Note: The following was passed by congress and signed by the President in December. Income Tax -All the Bush tax cuts remain at all levels for two years. Including: -The child credit -Adoption credit -Dependent care credit -Education credits -Child … Continue reading
Posted in Tax
Leave a comment
