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


Do you own a piece of real estate that has historic or scenic significance? Creating a conservation easement or conservation restriction can: 1. Preserve the scenic or historic nature of the property 2. Save taxes by donating an easement 3. Preserve your and your family's property ownership

Family Business


The Equal Employment Opportunity Commission has recently reaffirmed its position that it is illegal to use a prospective employee's criminal record -- even for felony convictions -- as an "absolute measure" of whether the applicant should be hired.

General Business


The IRS is on the lookout for Schedule C filers who have too many consecutive years of losses, especially for home-based businesses. You're probably aware that, in three of five years, your business is supposed to turn a profit - or risk being categorized as a hobby and having your losses disallowed.

Manufacturing


Customers are the lifeblood of every business. Without them, you don't exist. To figure out how to keep your customers happy, take a look at your own experiences. What frustrates you when you are the customer? Here are some ways to alleviate common customer frustrations.

Nonprofit Organizations


The IRS has released a draft of the form that tax-exempt organizations and small businesses will use to calculate the small business healthcare tax credit.

Physician Services


Two major tax packages signed into law last fall offer some significant tax breaks you'll want to be sure to take advantage of, beginning with the 2010 tax year.

Wealth Advice and Financial Planning


More than 25 percent of Americans don't take advantage of manufacturers' rebates for reasons ranging from it's too much trouble to they lost the receipt to they're skeptical about getting any money back, according to a study by Consumer Reports magazine. The study showed that many consumers were right to be skeptical. One in five people who applied during the last year didn't receive their rebate. Consumer Reports gives some tips to ensure that you get the rebate that comes with your purchase.

Valuations


During the discovery process, CPAs can play a key role in ensuring that important financial facts are disclosed and all relevant financial documents are obtained.

Washington Tax Update






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Unemployment Tax Assessment Notice
As an employer in the State of Florida you have or will be receiving a notice from the Florida Department of Revenue assessing an additional amount due. The amount due is based on taxable wages paid for Florida Unemployment Compensation for the period July 1, 2009 through June 30,2010. The assessment rate is .00136. An additional $25 will be assessed if returns were filed late for those periods. The amount due will be increased for additional interest and penalty if not paid by June 30, 2011.
 
More Information on Tax Advantages for Small Businesses Now Available on Hoyman.com

Visit Hoyman.comscroll toward the bottom of the page, and let us know if you wish to talk about any of these options.
 
Tax Advantages for Businesses: Sales and Use Tax. Read the easy outline on: 
  • New or expanding business
  • Machinery and equipment to produce electricity or steam
  • Pollution control machinery and equipment
    Semiconductor, defense or space technology
  • Research or development costs
  • Electricity or steam purchased for manufacturing
  • Boiler fuels
  • Resource recovery equipment (refund)
  • Solar energy systems
  • Florida's Enterprise Zone program (jobs credit, business property, electrical energy, and building materials used)
  • Film in Florida
  • Sales and use tax incentives, including Manufacturing and Spaceport Investment Incentive Program
Quick outline about Corporate Income Tax credits:
 
Related to jobs: 
  • Jobs for the unemployed tax credit
    Enterprise Zone jobs credit
  • Rural job tax credit
  • Urban high-crime area job tax credit
  • Subtraction for Florida employees included in calculation of Federal employment credits
  • Enterprise Zone property tax credit
Related to investment in Florida:  
  • Entertainment industry tax credit
  • New markets tax credit
  • Capital investment tax credit
  • Credit for contributions to nonprofit scholarship funding organizations
  • Community contribution tax credit
  • State housing tax credit
  • Contaminated site rehabilitation tax credit
  • Hazardous waste facility tax credit
  • And more
Business Tips

Managing Your Company - Make sure your team knows what is expected. How many sales calls do you want your salespeople to make? How many shipments do you want shipped each day? Measure and track it. People will play the game when they know how you keep score.

Wealth Tips

Your Investments - Maintain a balanced portfolio of assets of real estate and securities. Within securities, maintain a balance between equities and bonds.

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CPAmerica International
Our firm is a member of CPAmerica International 
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 information 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 2011 CPAmerica International