AVOID POTENTIAL FOR PENALTIES. LATE 1099 FILING PENALTY IS NOT WORTH THE RISK Specifically, not providing a correct statement (intentional disregard) carries a penalty of $250 per 1099, with no maximum for the year. $50 penalty per 1099, if you file within 30 days of due date. $100 per 1099, if … [Read more...]

New Medicare Taxes for 2013

Two new taxes that may impact taxpayers   Medicare Payroll Tax Increase 1)      Medicare taxes have always been a payroll tax. Half is paid by the employee with the other half paid by the employer. This new 0.9% tax is an additional tax paid by the employee only. Wages above $200,000 … [Read more...]


DEDUCTING JOB SEARCHING EXPENSES Many Americans spend both time and money seeking New Employment. These Job Seeking Expenses can be deductible on your annual Income Tax Return. Here are several factors related to Deducting your Job Seeking Costs: 1. To Qualify for a deduction, the expenses … [Read more...]