Dear Client: We are highlighting some of the business provisions included in the 2012 American Taxpayer Relief Act which was put in place on January 1, 2013. The new law includes some valuable business tax incentives. Many of these business tax incentives are temporary so taxpayers have a limited window [...]
American Taxpayer Relief Act of 2012 The Senate and House of Representatives passed the American Taxpayer Relief Act of 2012 (the “Act”) on January 1, 2013. The bill is heading for the President’s desk today for signature. The Act addresses a partial resolution to the “fiscal cliff” matter primarily [...]
The medical device excise tax ("the tax") was included in the Affordable Care Act signed into law in 2010. The tax equals 2.3% of the price paid for certain medical devices sold by any manufacturer, producer, or importer and applies to sales after December 31, 2012. On June 7, [...]
Overview Starting in 2013, if your Adjusted Gross Income (AGI) is over $200,000 as a single taxpayer or $250,000 as a married taxpayer filing jointly, the following new Medicare taxes may impact your 2013 tax liability: 0.9% on wages and self-employment income 3.8% on the lesser of your "net [...]
Waltham, MA – September 2012 – Newburg & Company, LLP is pleased to announce that it will be participating in the 2012 Greater Boston Walk Now for Autism Speaks on Sunday, September 28th. The Newburg Team is raising funds to help fight Autism, the disorder that now effects 1 [...]
Assuming there will be no Congressional intervention, significant tax changes may be on the horizon for 2013. Tax cuts originally enacted in 2001 and 2003 by President Bush were scheduled to expire in 2011. However, in 2010 President Obama temporarily extended the tax cuts through 2012. If Congress does [...]
Recently certain health insurance providers have begun issuing rebates to employers that sponsor insured group health plans, as well as individuals who purchase health insurance coverage in the individual market. The rebates are a result of the Patient Protection and Affordable Care Act, enacted on March 23, 2010. You [...]
Don’t Let the 2012 Gifting Exclusion of $5 Million Pass You By… The IRS is allowing individuals to make gifts of up to $5,120,000 in 2012 before having to pay any transfer taxes. This exemption amount is returning to $1 Million in 2013 unless modified by Congress. Given the [...]
6/5/12 Reminder: 2nd Quarter Tax Estimates Due June 15th We wanted to send you a courtesy reminder that if you are making quarterly estimated tax payments, your next payment should be mailed off by next Friday June 15th (postmarked). If your 2011 return has been filed, we have included [...]
5/31/12 Report of Foreign Bank and Financial Accounts (FBAR), Form TD F 90-22.1, is due June 30, 2012 This form is used to report a financial interest in a foreign financial account, or signature authority over a foreign financial account. You are required to file this form if the aggregate [...]
