News Articles

08

March

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Clarification for 1099 Questions : Comprehensive 1099 Taxpayer Protection and Repayment of Exchange Subsidy Overpayments Act of 2011

Clarification for 1099 Questions On April 14, 2011, President Obama signed into law H.R. 4, the “Comprehensive 1099 Taxpayer Protection and Repayment of Exchange Subsidy Overpayments Act of 2011.”  This law is very short and basically includes four items. 1) The requirement for rental property owners to issue Form 1099 starting with 2011 payments is … Continued

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08

March

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Mileage Rate Announced : The IRS Announced the 2012 Mileage Rates

IRS Announces 2012 Mileage Rates On December 9, the IRS announced the standard mileage rates for 2012 (Announcement 2012-1).  Taxpayers can use the optional standard mileage rates to calculate the deductible costs of operating an automobile. The 2012 rates are: For business use of an automobile remains at 55 1/2 cents per mile. For medical … Continued

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08

March

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Badgett Payne and Warren CPAs Merges with ATA : ATA welcomes BPW Staff and Clients

BADGETT PAYNE & WARREN CPAs MERGES WITH ALEXANDER THOMPSON ARNOLD CPAs The November 1, 2011 merger of Alexander Thompson Arnold CPAs and Badgett Payne & Warren CPAs brings two firms with a common history back together. This merger brings the legacies of Grady Arnold and Tom Badgett full-circle. In the 1950s, Grady Arnold and Tom … Continued

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08

March

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Year-End Tax-Planning Moves for Businesses : This checklist describes actions businesses can take to save taxes.

Year-End Tax Planning Moves for Businesses & Business Owners This checklist describes actions businesses and business owners can take to save money. Businesses should consider making expenditures that qualify for the business property expensing option. For tax years beginning in 2011, the expensing limit is $500,000 and the investment ceiling limit is $2,000,000. And a … Continued

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08

March

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Year-End Tax Planning Moves for Individuals : This checklist describes actions individuals can take to save taxes.

Year-End Tax Planning Moves for Individuals This checklist describes actions individuals can take to save taxes. Increase the amount you set aside for next year in your employer’s health flexible spending account (FSA) if you set aside too little for this year. Don’t forget that you can no longer set aside amounts to get tax-free … Continued

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