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Planning for the 3.8 Percent Medicare Tax on Investment Income

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 percent Medicare contribution tax on t...

Provisions of the Patient Protection and Affordable Care Act (PPACA) and its companion law, the Health Care and Education Reconciliation Act (HCERA)

On June 28, 2012, the United States Supreme Court issued its long-awaited decision on the constitutionality of the Patient Protection and Affordable Care Act (PPACA) and its companion law, the Heal...

Substantiation Requirement for Charitable Contributions

The Tax Court has disallowed taxpayers’ charitable contribution deduction to their church because the donee organization failed to provide a properly completed contemporaneous written acknowl...

President Obama’s Business Tax Reform Plan

In February 2012, the White House and Treasury Department released The President’s Framework for Business Tax Reform (the report), which presents five “elements” of business tax reform. For each el...

Zions Bank “Speaking in Business”

On Monday, February 27, Trader Roberts & Spangler will be featured on Zions Bank’s “Speaking on Business” broadcast on KSL Radio, 1160 AM. Along the Wasatch Front, it will air at 7:23 AM, 11:47...

CONGRESS APPROVES EXTENDED PAYROLL TAX HOLIDAY

The House and Senate approved and President Obama is expected to sign legislation that extends through 2012 the current-law 2 percent payroll tax relief, emergency unemployment insurance benefits, ...

2012 MILEAGE RATES

We receive a number of calls regarding the standard mileage rates taxpayers can use. The IRS has released amounts for use in 2012 (Notice 2012-1). For business use of an automobile remains at 55½ c...

IRS ANOUNCES KEY CHANGES FOR 2012

Although most Americans will not have to worry about 2012 taxes until early 2013 when 2012 tax returns are due, self-employed individuals or anyone who must pay quarterly tax payments will want to ...

Reporting Capital Gains and Losses on Schedule D and Form 8949

The IRS has unveiled a new tax form for reporting capital gains and losses from stocks, bonds, mutual funds and similar investments. Starting with the 2011 tax year, investment transactions will be...

Does Your Business Accept Bankcards?

If you have accepted merchant cards for payments, or received payments through a third party network that (1) exceeded $20,000 in gross total reportable payment transactions and (2) the total numbe...

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