Monthly Archives: November 2013

Updates From the office of Carol McAtee & Associates, C.P. A. in St. Petersburg, FL- Act Now to Take Advantage of Next Year’s Tax Changes

Unlike last year, tax planning for 2013 is not hampered by uncertainties over a looming fiscal cliff. Unfortunately, there is always some uncertainty and a few expiring provisions to warrant special attention by taxpayers. Managing income taxes at year end … Continue reading

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Updates from the office of Carol McAtee & Associates, C.P. A. in St. Petersburg, FL- 3 Business Tax Moves to Make Now

Some big-dollar tax deductions that affect businesses are set to expire in 2013, so now’s the time to make sure your company considers taking advantage of them for the current tax year. Doing so may allow you to buy more … Continue reading

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Updates from the office of Carol McAtee & Associates, C.P. A. in St. Petersburg, FL- IRS publishes 2014 tax numbers to help with tax plannin

The tax rules may change again in 2014, however, we did want to give you the updates for the following to help with your next year tax planning: –    Social Security taxable wage limit increases from 2013 limit of $113,700 to … Continue reading

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Updates from the office of Carol McAtee & Associates, C.P. A. in St. Petersburg, FL- Year-End Tax Planning For Individuals (Part 1)

Tax planning presents more challenges than usual this year due to the passage of the American Taxpayer Relief Act of 2012 (ATRA), which was signed into law on January 2, 2013, as well as certain tax provisions of the Patient … Continue reading

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Updates from the office of Carol McAtee & Associates, C.P. A. in St. Petersburg, FL – IRS Sent Erroneous Penalty Notices

The Internal Revenue Service has admitted to mistakenly assessing penalties on businesses that had requested extensions on filing the Form 5500 for their employee retirement plans. The IRS is telling its help center representatives to apologize remove the penalties when … Continue reading

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Updates From the office of Carol McAtee & Associates, C.P. A. in St. Petersburg, FL – Three Most Common Budgeting Errors

When it comes to creating a budget, it’s essential to estimate your spending as realistically as possible. Here are three budget-related errors commonly made by small businesses, and some tips for avoiding them. Not Setting Goals. It’s almost impossible to set … Continue reading

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Updates from the office of Carol McAtee & Associates, C.P. A. in St. Petersburg, FL 2014 Tax Season to Start Later Following Government Closure; IRS Sees Heavy Demand As Operations Resume

WASHINGTON — The Internal Revenue Service today announced a delay of approximately one to two weeks to the start of the 2014 filing season to allow adequate time to program and test tax processing systems following the 16-day federal government … Continue reading

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Updates from the office of Carol McAtee & Associates, C.P. A. in St. Petersburg, FL IRS Fresh Start Program Helps Taxpayers Who Owe the IRS

The IRS Fresh Start program makes it easier for taxpayers to pay back taxes and avoid tax liens. Even small business taxpayers may benefit from Fresh Start. Here are three important features of the Fresh Start program: Tax Liens. The Fresh … Continue reading

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Updates from the office of Carol McAtee & Associates, C.P. A. in St. Petersburg, FL –2014 Social Security and Medicare Taxable Wage Limits and Rates

On October 30, 2013, the Social Security Administration announced an upward cost-of-living adjustment for the Social Security taxable wage limit.  For calendar year 2014, the amount of earnings taxable for Social Security (Old Age, Survivors and Disability Insurance, or “OASDI”) … Continue reading

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Updates from the office of Carol McAtee & Associates, C.P. A. in St. Petersburg, FL -Starting a Business? Three Things You Must Know

 Starting a new business is a very exciting and busy time.  There is so much to be done and so little time to do it in.  If you expect to have employees, there are a variety of federal and state … Continue reading

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