Presentation Linkedin Taxlawchanges
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Transcript of Presentation Linkedin Taxlawchanges
2013 TAX LAW CHANGES FOR
SMALL BUSINESSES Presented by
Aigul Myekyei, CPA
www.aigulcpa.com
Changes in the Laws
579 changes in tax laws during 2010
Tax fraud increased
IRS is hiring more auditors
Bush tax cuts to expire in 2012
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Tax Increases in 2013Capital gains rate to increase to 20%Additional Medicare surtax on unearned
income of 3.8% for those with AGI over $200,000/$250,000
Upper-income wage earners will pay 0.9% Medicare surtax
Employee’s portion of social security returns to 6.2%
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Health Insurance Credit
Is 35% of total eligible premiums paid
For tax-exempt organizations 25% of
total eligible premiums paid
Use Form 8941 or Form 3800 to claim the credit www.aigulcpa.com
Section 179 Deductions
2012 section 179 deduction decreased to
$125,000 and bonus depreciation decreased
to 50%
In 2013 section 179 deduction will decrease
to $25,000 with no bonus depreciationwww.aigulcpa.com
S-Corporations Need To Be Aware:
Reasonable salary to the officers
S-Corp net income flow to the shareholder
is not subject to FICA
Many cases are now in tax court
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IRS's "Fresh Start" Initiative New Penalty Relief For Individuals
and Companies
Expanded Installment Agreements Now Going to 72 Months
More Responsive to Offers in Compromise
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How To Avoid An Audit
Be consistent with all tax returns
Know the rules and stay informed
It is what it is!
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Thank You For Your Time
Comments Are WelcomePresented by
Aigul Myekyei, CPA
www.aigulcpa.com
