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The Whitlock Company News Update              
February 3, 2012
Taxes

Services-TaxNew 2011 1099-K Reporting Now Effective

 

 Effective for the tax year 2011, there are significant changes for businesses that pay vendors via credit card or accept credit card payments. The IRS has created a new 1099-K form to report credit card activity. For 2011, businesses that pay for services via a credit or debit card and in prior years prepared a Form 1099-MISC for those vendors, the reporting requirement has changed. Read more...

Estate Tax

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A Guide to Gift and Estate Planning

 

written by Brenda Logsdon, CPA 

In the following guide you will find an assortment of recommendations to reduce or shift value from a personal estate. These techniques will reduce the potential estate tax upon death. Topics will include gift planning, a variety of trusts and much more. Read more...

Taxes

Services-TaxInvoluntary Conversion for Residence and Personal Property 

 

written by Jay Logal, CPA

On May 22, 2011 many people in our area experienced not only a devastating tornado, but also a tax event. No matter how painful or traumatic the events of that day were, we as a community, individuals and organizations must rebuild and move forward. Part of the moving forward process is the preparation and filing of our income tax returns. Read more...

Taxes

Services-Tax 

Sweeping New IRS 'Repair Regulations' Impact Most Businesses

 

The IRS has released much-anticipated temporary and proposed regulations on the capitalization of costs incurred for tangible property. They impact how virtually any business writes off costs that repair, maintain, improve or replace any tangible property used in the business, from office furniture to roof repairs to photocopy maintenance and everything in between. Read more...

Taxes

Services-TaxReduce Your Tax Liability with Estate and Gift Tax Planning 

 

The fate of the employee-side payroll tax cut along with a host of tax extenders and other expired provisions could be decided in coming weeks. A conference committee of House and Senate members is negotiating a full-year extension of the payroll tax cut and could add some or all of the tax extenders to a final package. Lawmakers also could extend the payroll tax cut without acting on any tax incentives. Read more...

Media and Resources
The Media and Resources page on our website includes Whitlock Resources that provide links to:

Info Center-Includes tax event calendar, tax forms library and IRS Tax Publications library

Financial Tools-Includes various financial planning tools, calculators and spreadsheets

Newsletter-Additional tax articles and analysis

Archives - Read more from past newsletters
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Best Accounting Firms to Work For.

The Whitlock Company was recently named as one of the 2011 Best Accounting Firms to Work For by Accounting Today. This is the fourth year in a row to receive this award. Read more...

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About Us
Small logoThe Whitlock Company is a full-service CPA firm offering a range of professional tax, audit, accounting and managment advisory services to the following industries:Community Banking, Manufacturing and Distribution, Not-For-Profits, Higher Education and more. For more information, please contact us.

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