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Taxes | David Knoble, CPA, PLLC

David Knoble, CPA, PLLC

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1099’s Must Be Sent Out!

There are new ques­tions on 2011 tax forms for Cor­po­ra­tions, S-Corporations and Sched­ule C busi­nesses that should encour­age you to be sure and send out your 1099’s.  The ques­tions on the tax returns ask if a) you made any pay­ments in 2011 that would require you to file 1099’s and b) if yes, did you file all 1099’s?  » Read more about 1099’s Must Be Sent Out! »

© 2012, david.knoble
by David Kno­ble, CPA, PLLC
Serv­ing Non-Profits, Busi­nesses & Indi­vid­u­als
Rock Hill, SC

Taxpayers Itemizing Must Wait!

We are all glad that the new tax law has extended some of the sun­set pro­vi­sions that were going to increase almost all our taxes in 2011 and beyond.  There is a glitch, how­ever, with pass­ing this leg­is­la­tion at such a late hour.  » Read more about Tax­pay­ers Item­iz­ing Must Wait! »

© 2010, david.knoble
by David Kno­ble, CPA, PLLC
Serv­ing Non-Profits, Busi­nesses & Indi­vid­u­als
Rock Hill, SC

Is the End of the S-Corporation Near?

For years now a great vehi­cle for start­ing a small busi­ness was the S-Corporation.  Losses can be passed through to the owner dur­ing the startup years.  Then, when prof­its begin, as long as the owner takes a ‘Rea­son­able Salary,’ the remain­ing prof­its are not sub­ject to self-employment.  Well, this may be the last year this holds true.  Here’s why.  » Read more about Is the End of the S-Corporation Near? »

© 2010, david.knoble
by David Kno­ble, CPA, PLLC
Serv­ing Non-Profits, Busi­nesses & Indi­vid­u­als
Rock Hill, SC

Penalties From Using Tax Software

A fre­quent ques­tion we are asked is “Why can’t I do my own taxes on Turbo Tax® or Tax Cut® soft­ware?”  We came across a Tax Court case in which an indi­vid­ual was assessed a 20% penalty even though she used tax soft­ware to pre­pare her taxes.  The indi­vid­ual argued she should not have … → Read More: Penal­ties From Using Tax Software

A New Hire Tax Credit

The IRS tends to release some great indi­vid­ual tax cred­its — take the new homeowner’s credit now on it’s third revi­sion.  Most often, the new busi­ness cred­its are hard to take full advan­tage of for small busi­nesses.  How­ever, there is a new tax credit out and the IRS has released the nec­es­sary forms to apply for the credit.  Most impres­sive is the abil­ity for many small busi­ness to take advan­tage of the credit.  Here’s the basics.  » Read more about A New Hire Tax Credit »

© 2010, david.knoble
by David Kno­ble, CPA, PLLC
Serv­ing Non-Profits, Busi­nesses & Indi­vid­u­als
Rock Hill, SC

Watch for Scam Emails looking like the IRS!

Always be care­ful open­ing email from sources you do not know.  Now you have to be care­ful watch­ing for email from the IRS.  With very few excep­tions, the IRS does not send email to indi­vid­u­als and busi­nesses.  Here is how to tell if your email is fraud­u­lent or a scam.

 » Read more about Watch for Scam Emails look­ing like the IRS! »

© 2010, david.knoble
by David Kno­ble, CPA, PLLC
Serv­ing Non-Profits, Busi­nesses & Indi­vid­u­als
Rock Hill, SC