The Bottom Line
brought to you by Wrobel Accounting
April 25, 2011
In This Issue
1099 Reporting Revised
Time is Money
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Estate taxes might not affect you, but you still need a plan  Estate Taxes

 Good news if you're concerned about estate taxes: for the next two tax years (2011 and 2012), the value of your estate that's excluded from tax is set at $5 million. And the top rate on taxable estates is 35%.

To learn what tax payers should do to take advantage of the current rules, contact our office at (813) 514-8273, or click here. 

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Greetings!

 

Whew! We made it through another tax season. We appreciate each of you who trusted us with your financial documents. We worked hard to lower your tax liability as much as possible and get you the biggest refund possible. We hope you'll recommend us to your family, friends, and business associates.

 

This issue is full of important updates regarding 1099 reporting, estate tax planning, and the time-value of money. Please take a few moments to read through our articles, and contact us if you have any questions.

 

Thank you!
New law repeals expanded 1099 reporting rules

On April 14, 2011, President Obama signed new legislation repealing expanded reporting rules for businesses and landlords that had been created by laws passed in 2010. Repeal of the expanded business and rental property expense reporting rules will eliminate a flood of paperwork for most small business and rental property owners. Click here to read more. 

1099 Tax forms

 

Consider the time value of money in making business decisions

Suppose you're selling your business, and it's worth $400,000. You're offered $210,000 down and lump sums of $100,000 at the end of year one and year two. Should you take the offer?

Time is MoneyMost people know that $1,000 now is worth more than $1,000 a year from now. To find out why, click here. A simple analysis can be applied to any business transaction involving future payments. For help with the calculations or assistance with any of your business needs, call us at (813) 514-8273 for an appointment.