|
|
Greetings!
Welcome to the latest installment of our firm's e-newsletter, The FKCo Report. Here you will find updates on important or newsworthy items within our firm, about our clients and things going on in the world of accounting and taxation. This allows us to reach out to you, stay in touch and welcome you again to the FKCo Community. We encourage your comments and responses. We look forward to hearing from you!
Respectfully,
Alan, Don & Everyone here at
FKCo
|
|
|
Federal Unemployment Tax Reduced
 The IRS has announced that effective July 1, 2011 there will be a reduction in the Federal Unemployment Tax Act (FUTA) rate due to the expiration of the 0.2 percent FUTA surtax. This will decrease the overall rate from 6.2% to 6.0% on FUTA taxable wages paid after June 30, 2011. The annual FUTA taxable wage base of the first $7,000 paid to each employee remains unchanged. |
| |
Connecticut Tax Provisions at a Glance
 Tax Brackets and Rates (Effective 1.1.11)
The number of income tax brackets was increased from 3 to 6. See rates here.
Property Tax Credit (Effective 7.1.11)
The Connecticut income tax credit for property taxes paid was reduced from $500 to $300.
Tax Rates (Effective 7.1.11)
The Connecticut general sales and use tax rate increases from 6% to 6.35%
New Taxable Services (Effective 7.1.11)
There are many new services that will now be taxed for Connecticut general sales and use tax. Click here for a full detailed list.
Corporate Business Tax
A surtax of 20% will apply for income years beginning on or after January 1, 2012 and before January 2014.
|
| |
IRS Increases Mileage Rate to 55.5 Cents/Mile
WASHINGTON - The Internal Revenue Service today announced an increase in the optional standard mileage rates for the final six months of 2011. Taxpayers may use the optional standard rates to calculate the deductible costs of operating an automobile for business and other purposes.
Click HERE for more details.
|
| |
Five Good Reasons to Attend the Summer NAMM Show!
 - Meet up with Daniel, Alan and Jen one-on-one (and get a free FKCo t-shirt)
- Attend meaningful educational sessions at the Idea Center
- Meet with your vendors and credit managers
- Reconnect with friends you have not seen for a while
- Check out new product
|
| |
Great Article on an FKCo Client
Click on the image of our client, Charles Rufino, owner of Long Island Violin Shop. This is a great article that appeared recently in the New York Times. Great job Charles! |
| |
|
ALAN'S GUITAR OF THE MONTH
The Ovation Applause Electric Concert Ukulele
 You may have noticed there's been a surge in popularity of ukuleles over the past few years. Perhaps it's because they're relatively easy to learn how to play (with only 4 strings on a short fretboard to master instead of your typical full scale 6-stringed guitar). Or maybe it's because we're seeing some of our favorite musicians playing them, as I recall seeing Paul McCartney play "Something" on ukulele as his personal tribute to band-mate and musical brother George Harrison. Or maybe it's because they're just plain old cool. With these notions in mind, my Guitar Pick of the Month is the Ovation Applause Electric Concert Ukulele. Like other Ovation guitars, the roundback body is a unique design that's particularly effective in projecting the mid-range and bright tones of the uke, giving it surprising volume and clarity. Since 1966, Ovation has been making guitars with their now famous roundback. They discovered the flat back of an acoustic guitar actually hindered the balance and projection of the instrument. This roundback design improved projection, gave the instrument a better balance from bass through treble and made for a stronger and more rugged instrument. I own one of these Ukuleles and they rock!! |
| |
|
Summer NAMM 2011
Back to Nashville, TN in July!
Alan, Daniel and Jen will be attending and speaking at the Summer NAMM show July 21-23, 2011.
We love having the opportunity to attend and speak at both the winter and the summer NAMM shows. Click HERE to see all the speaking engagements.
If you're attending the show and are in the mood for a hip acoustic performance by PRINTZ, check out the band as they go unplugged at the NAMM Foundation Lounge in room 210 (on the second floor of the convention center. ) Performance Friday July 22, 2011 from 5-6 PM.
|
| |
Thanks for being a part of our FKCo family. It's our pleasure to provide you with the accounting, tax and financial services you need. As always, we're here to help and look forward to hearing from you.
With Warm Regards,
Alan, Don and Everyone here at FKCo
|
|
|
