Heiman Consulting

CPA for Lean Accounting and Paperless Offices! Better information at less cost makes our clients more competetive.
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Efile Refund Schedule

 

Mileage Rates Jan. 1, 2012
55.5 cents per mile for business
23 cents for medical trips
14 cents for charity work
To get your free mileage logbook stop by the office at 2402 W Morton between Nautalus & Amazon Tan, or complete the form on 'contact us' and we'll mail you one.
You can't afford NOT to keep records of your mileage!
 
Health Insurance is not taxable starting in 2011 it is voluntarily on our W2 so that you know the true cost of your health insurance but it is not taxable and in 2012 it is manditory but still not taxable.

 

Tax issues related to the Small Business Job Creation

 

New employment tax credits for hiring unemployed or part time (underemployed).  Read here

 

Presidents 2011 Budget with lots of small biz credits for new jobs and more child tax credits.

 

$1 Billion in tax credits to 3000 US companies!

  

2010 TAX ORGANIZER click here 

 

Dos & Don'ts of Business Audits

  1. Don't flip out, the system routinely search for inconsistencies that can easily be cleared up.
  2. Provide everything they asked for but no more.
  3. Don't assume you did anything wrong.
  4. Do make sure you are represented by Enrolled Agent, CPA, or Tax attorney.
  5. Do get organized and have your records to back up your returns.

     

    Tuition Credits 
    A qualified tuition program is a program set up to allow you to either prepay, or contribute to an account established for paying, a student's qualified education expenses at an eligible educational institution. QTPs can be established and maintained by states (or agencies or instrumentalities of a state) and eligible educational institutions. The program must meet certain requirements. Your state government or the eligible educational institution in which you are interested can tell you whether or not they participate in a QTP.

 

News: IRS Lax on Audits of Big Financial Companies click here
 
Complex rules about Home Business Deductions & Vacation Homes
If this article hurts your brain, that's what you need a professional to look at your taxes.