Ben Smith
Author's posts
Jun 23 2011
IRS revises Standard Mileage Rate
06/23/11 – The IRS today announced a revision to the deductible standard mileage rate allowed for business and medical or moving purposes, to take effect on July 1, 2011. The new rate for business is 55.5 cents per mile and for medical or moving is 23.5 cents per mile. The old rates were 51 cents and 19 cents respectively. There is …
Jun 03 2011
GUEST POST – Can your small new business afford a CFO
06/02/2011 This article was recently published in the Idaho Business Review. Author Scott Lockwood eloquently describes what I can do for your business: According to the U.S. Small Business Administration, small enterprises, employing fewer than 500 people, dominate the U.S. economy and account for 52 percent of all U.S. workers. Small businesses and their …
Jun 03 2011
Reminder: 2010 Tax Law Provisions extended
06/03/2011 Tax Planning Alert—The 2010 Tax Act The newly passed and signed 2010 Tax Act, formally named the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, includes several provisions that will affect taxpayers. Here is the information you need to know now about this legislation, formally named the Tax Relief, …
Jan 20 2011
Filing Season Delays Ending Soon
01/20/2011 – Happy New Year to my clients, colleagues, friends and family. My wish for you this year is that you continue to learn and grow. Remember I will be here to help you, with some new tools and techniques for you to try. Speaking of learning, I just learned when you can file your …
Nov 16 2010
Tax Planning for 2010–Here’s What to Do
MAXIMIZE YOUR RETIREMENT ACCOUNT CONTRIBUTIONS If you haven’t contributed the maximum to your tax-deferred 401(k) retirement savings account, some employers allow you to catch up for the current year. For 2010, you can contribute a maximum of $16,500 (and an additional $5,500 if you’re over 50 years of age by the end of the tax …
Aug 26 2010
New Credit Card Regs – What You Need to Know
08/25/10 – You know all that junk that comes in the envelope with your credit card statement each month? You need to start reading it, or you could be paying more than you expected for fees and interest than you ever thought possible. The CCARD Act of 2009 went into effect this past weekend, and credit card …
Aug 24 2010
Let’s start planning!
08/24/10 – Throughout the week, I receive several emails containing newsletters to which I subscribe, and one of my favorites is actually the IRS! Who knew? The IRS provides so many tips and lists to help my clients save on taxes, and what better way to help them think about tax planning than to share some of …
Jun 12 2010
Virtues of a Virtual Assistant
06/11/10 – As many of you know, I’m active in several online discussion groups on LinkedIn. Well, a question was posted from a VA – virtual assistant – about dreaded tasks you perform during the workday. Here’s our exchange: Priscilla Walker Chief Client Task Manager @ Your Dependable VA, Inc. What’s one task you dread …
Apr 27 2010
COBRA Subsidy extension for Employers
COBRA Subsidy Eligibility Period Extended to May 31 Employers can still receive a 65% subsidy for COBRA insurance payments for workers involuntarily terminated through May 31st of this year. Subsidies extend for up to 15 months. This from the IRS: Workers who lose their jobs during April and May may qualify for a 65-percent subsidy on …
Apr 14 2010
Now that Tax Season is over – Audit Season begins!
Don’t Panic! Eight Things to Know If You Receive an IRS Notice The Internal Revenue Service sends millions of letters and notices to taxpayers every year. Here are eight things taxpayers should know about IRS notices – just in case one shows up in your mailbox. Don’t panic. Call your CPA. Even if I did not …