Hoyman Dobson
E-ssentials Bulletin
Our newest profitability and wealth accumulation tips for our clients and contacts. Click on items of interest for more details on each topic.
Building Construction
 
 
Would like to take advantage of the federal tax credits for energy-efficient home improvements? It's important to know what to look for, both in terms of products and contractors.
 
Family Business
 
 
For family business owners, the dream of retirement isn't simply a matter of not going to the office any more. Every family business should make succession planning a priority.
 
General Business
 
 
In today's economy, many people are having to adjust to unexpected changes in their lives. This is also true at work. As a manager, it may be helpful for you to understand these "stages of change" so that you can appreciate your employees' reactions and support them through their difficult times.
 
Manufacturing
 
 
If you are a business owner, you may want to act soon if you are planning to acquire new business assets. At the end of 2009, some important tax breaks are scheduled to expire.
 
Nonprofit Organizations
 
 
Jobs for fund-raisers appear to be on the rise, while they are on a decline for those who run programs, according to two recent surveys. Read the details, as well expectations of salaries and raises, in the nation's two largest nonprofit centers -- New York and Washington, D.C.
 
Physician Services
 
 
Before the credit crisis, medical office building investments were seen as a recession-proof investment. Not so anymore, according to the 2009 Medical Office Building Investor Survey. Medical office buildings aren't feeling as much of a bite as other commercial real estate, but there have been decreases in value.
 
Wealth Advice and Financial Planning
 
 
It has been almost four years in the making. But beginning Jan. 1, 2010, everyone will be able to convert their monies from a traditional IRA to a Roth IRA. A one-time advantage under the new law is that taxes can be deferred on amounts converted from a traditional IRA to a Roth IRA -in 2010 only.
 
Valuations
 
 
Economic factors affect how we do business. They may also affect how we use meetings. During times of change, whether good or bad, the need for communication increases. Here are a few rules to remember for running an effective meeting.
 
Washington Tax Update
 
 
 
 
 
 
 
Latest Business Headlines
 
Reuters
 
New York Times
 
CNNMoney
 
Wall Street Journal
 
CNNMoney
 
 
The Florida Unemployment Compensation Trust Fund has been paying out more funds than it has been taking in, due to increased unemployment in Florida. As a result, temporary changes were made to unemployment tax law during the 2009 legislative session to increase funds being paid into Florida.
 
Florida Statutes were amended to increase the amount of taxable wages for unemployment tax. Effective Jan. 1, 2010, employers must pay tax on the first $8,500 (was $7,000) of wages paid per employee per calendar year. The amount of wages subject to unemployment tax will remain at $8,500 through Dec. 31, 2014. The taxable amount is slated to return to the first $7,000 of wages effective Jan. 1, 2015.
 
The Department of Revenue annually provides the calculation of the employer's unemployment tax rate to each employer. Be on the lookout for a notice from the Florida Department of Revenue advising you of your new rate effective Jan. 1, 2010.  
 
As a result of changes to the statutes, you may also be facing an increased unemployment tax rate effective in future years. However, currently the rate cannot exceed 5.4%. 
 
Hoyman Dobson Partners with Hayworth, Chaney & Thomas to Present Seminar on Research Tax Credit and Intellectual Property
 
Barbara J. Oswalt, CPA, Tax Director with Hoyman Dobson, and Steve Thomas, Attorney and Partner with Hayworth, Chaney & Thomas, are teaming up to provide a training session for small businesses. The seminar topic is How to Get Your Development Dollars Back From the IRS & Protect Your Intellectual Property Without Breaking the Bank.
Businesses that are:
  • Designing new products, prototypes, models, tools, or fixtures
  • Improving existing products & manufacturing processes through technology
  • Applying for patents
  • Testing new technology or concepts
  • Concerned about protecting their strategic position in their market 
will most benefit from this interactive training seminar.    

"Many local businesses are not aware that recent regulations have relaxed the definition of qualified research activities. As such, many businesses that were not eligible in the past may now be able to take advantage of this federal tax credit," shares Barbara Oswalt, CPA/ABV, CVA, CFF.

The training will be provided at:

TRDA Business Innovation Center in Melbourne:
Date & time: Jan. 13, 2010, 4:00 to 5:30 p.m.
Location: 1050 W. NASA Blvd., Melbourne, FL 32901
Admission: Free
RSVP by Jan. 11, 2010: boregan@trda.org

Space Coast Economic Development Commission in Titusville:
Date & time: Jan.20, 2010, 4:00 to 5:30 p.m.
Location: 2000 S. Washington Ave., Suite 2, Titusville, FL 32780
Admission: Free
RSVP by Jan. 19, 2010: SEDC@Titusville.com 

Business Tips
 
Managing Your Company - Emphasize communication skills. Create a Toastmaster's group within your company.
 
Wealth Tips
 
Your Savings - Each time you receive a raise, increase your retirement plan contribution.
 

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The technical information in E-ssentials is necessarily brief. No final conclusion on these topics should be drawn without further review and consultation. Please be advised that, based on current IRS rules and standards, the advice contained herein is not intended to be used, nor can it be used, for the avoidance of any tax penalty assessed by the IRS.
 
© Copyright 2009 CPAmerica International Inc.