Avoiding the Net Investment Income Tax
The Patient Protection and Affordable Care Act not only brought us Obamacare, but also the Net Investment Income Tax or NIIT. This new tax, which is a Medicare surtax, is…
The Competitive Edge
2013 Year-End Tax Planning for Individuals
The Competitive Edge, Volume 3 Issue 6 | December 2013
It’s that time of year where we should think about preparing an estimate of your current year tax liability and see if there isn’t some way we can reduce that…
2013 Year-End Tax Planning for Businesses
The Competitive Edge, Volume 3 Issue 6 | December 2013
As the year draws to a close, it’s important that we review your business’s income for 2013 to project the estimated tax liability for the year and see if there…
Playing “Audit Roulette” with the IRS
The Competitive Edge, Volume 3 Issue 5 | September 2013
“So, what are the chances the IRS is going to audit me?” It is common for many clients to make this inquiry when in the middle of a discussion related…
Palmer Melton, Celebrating 50 Years
The Competitive Edge, Volume 3 Issue 5 | September 2013
Born in Houston, Palmer Melton his brother Talley and twin sisters, Mill and Marge, were raised by their father after they lost their mother at a young age. Their father…
Small Businesses: Prepare for Health Care Reforms
The Competitive Edge, Volume 3 Issue 5 | September 2013
Ready or not, many key provisions in the massive health care law—the Patient Protection and Affordable Care Act of 2010 (PPACA)—take effect next year. In fact, employers must meet certain…
Saving for Retirement at Different Ages
The Competitive Edge, Volume 3 Issue 5 | September 2013
When should you start saving for retirement? The best answer is “right now”! It is not too early to begin nor is it generally too late, although the manner and…
Ten Mid-year Tax Strategies for 2013
The Competitive Edge, Volume 3 Issue 4 | July 2013
The summer is typically a time for individual taxpayers and small-business owners to take a deep breath while catching up on some recreational pursuits or other pleasurable activities. But there…
A New Financial Reporting Option that Helps Small Companies
Volume 3 Issue 4 | July 2013, The Competitive Edge
Many privately held businesses in the United States do not need GAAP-based financial statements and may currently be using a special purpose framework, such as the income tax or cash…
Five Ways to Defray New Medicare Surtax
The Competitive Edge, Volume 3 Issue 4 | July 2013
Beginning this year, certain high-income individuals may be liable for a new 3.8% surtax on investment income. Unlike other tax changes for 2013 included in the American Taxpayer Relief Act…