Masters in Accounting
Top 50 Accountants On Twitter
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7 Ways to Save on Your 2012 Business Taxes, Reduce Audit Risk
Higher tax rates are coming due to the new health care law (the Affordable Care Act, otherwise known as "Obamacare"). Beginning in 2013 if you earn more than $200,000 (and married couples earning more than $250,000) from wages or self-employment income then you will pay an additional .9% Medicare tax. Based on this new additional tax you might consider accelerating income into 2012 and/or delaying expenses to 2013 ...Read More
The Wall Street Journal
How to Start Your Own Tax Accounting Business
All things being equal, accountants aim to record income and expenses in a way that lowers taxes in the current year, principally by deferring income and accelerating expenses. The time value of money is the reigning principle here -- the money you will later have to pay in taxes can be put to better use in the meantime. "If you put an 8 percent rate on it -- whether it's an interest rate or the opportunity cost of money -- that starts to add up fairly quickly," says Pullara ...Read More