Businesses

Tax Surprise: When Payroll Firms Implode

The Wall Street Journal

This recent article from the Wall Street Journal reflects what can happen when a business relies on an outsider to process paychecks and what can go wrong.

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New Tax Guide Helps People Save on Their 2011 Taxes

IRS News Release

This IRS Publication offers a general overview of many of the items of income and deductions and their affect on your taxes.

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IRS Announces 2012 Standard Mileage Rates

IRS News Release

The IRS recently announced the 2012 standard mileage rates, many of which are the same as the rates released in July.

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Branch Profits Tax

Nicole Lasseter

The branch profits tax is a branch-level tax on the repatriation of earnings, in the form of dividends, from a foreign corporation's branch in the United States to the home office in the foreign country. 

Choosing the Right Health Care Plan

The Wall Street Journal

With health care costs rising, employers as well as self-employed individuals are looking for alternatives to their traditional health insurance.  High deductible plans in conjunction with a Health Savings Account (HSA) is one opportunity we like.

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Form-W8

Form W8Wade Wilson, CPA

A colleague recently posed the following situation: a client in the United States was hiring foreign contractors to perform services for the company from their home countries. He was paying them in U.S. dollars but sending the payments to the contractors in the foreign country. He was wondering what the tax reporting implications of such a transaction would be.