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Featured Client:
Westcoast Solar
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| Westcoast Solar Energy was founded by solar Industry veterans Nate Gulbransen and Jeremy Greer in Sonoma County in 2009.
"Solar power is becoming more and more popular among property owners as a way to lower their overhead, reduce their carbon foot print and increase the awareness of their company's environmental friendly practices."
Featured Employee:
Carli Ortiz  Carli Ortiz joined Linkenheimer in November 2011 as one of the firm's tax managers. Carli grew up in Colusa, and settled in Sonoma County after graduating from Sonoma State. Carli keeps busy with her three children, Natalie, Jackson, & Alia, and loves taking them to enjoy all the events and activities that Sonoma County has to offer. To View Her Bio |
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Greetings!
Thursday, September 27th, marked our 33rd Annual Linkenheimer Golf Tournament. Thank you to everyone who attended. We had one of the largest turnouts ever, and I think it's safe to say, everyone had a great time. Below is a link to the picture gallery of this years tournament.
Golf Tournament Gallery 2012
   
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Planning for the 3.8% Medicare Tax
The health care reform package (the Patient Protection and Affordable Care Act and the Health Care and education Reconciliation Act of 2010) imposes a new 3.8% Medicare contribution tax on the investment income of higher-income individuals. Although the tax does not take effect until 2013, now is the time to begin planning to reduce the effect of this tax on your 2013 Tax Return.
Continued... For Full Article Click Here.
Please feel free to contact us if you would like to discuss the tax consequences of the new 3.8% Medicare tax as it applies to your investment income. As always, we look forward to assisting you with any questions you may have as well as helping you strategically plan for changes in tax law. |
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2012 Year-End Tax Planning Takes a Different Direction
Each year we meet with our clients to review their projected taxes for the year and see what actions can be taken to minimize their tax liability. The usual actions are to defer income to the following year, accelerate deductions into the current year, and take advantage of tax credits. This year, the year-end tax planning process is turning in a different direction.
With the looming expiration of many tax deductions and increase in tax rates that begin in 2013, some clients are considering taking a reverse course by accelerating income and deferring deductions as a plan to minimize taxes. In addition to changes in the income tax code, unless Congress passes new legislation, the estate taxes are dramatically changing in 2013. Until December 31, 2012 each person can make gifts during their lifetime of up to $5,120,000 without incurring a gift tax. Starting in 2013, unless new legislation is passed, the lifetime exemption drops back to $1,000,000. This exemption is in addition to the annual exemption on gifts of $13,000 or less.
As year-end is quickly approaching, now is the time to review how the changing income and estate tax laws will impact you and determine what actions should be taken. If you have questions, please contact your CPA so we can help you with your planning.
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As the weather cools down and the holiday season ramps up, we hope you enjoy the fall weather, family and friends. And as always, if you have any questions about the new Medicare taxes, year-end planning, or would like to chat about future plans, please give us a call.
Sincerely,
Chris Jones
Marketing Director
Linkenheimer LLP CPAs & Advisors |
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