Since at least 1974, the IRS has sought to rein in attempts by S corporations to minimize the FICA tax responsibilities of both the corporation and its shareholder-employees. S corporations have typically attempted to do this by paying minimal salaries to their shareholder-employees, and, if the shareholder-employee needs access to additional corporate funds, letting them pull money out of the corporation in the form of a non-wage distribution. The IRS has, however, recently scored an important victory in this struggle with taxpayers in a case out of the Eighth Circuit U.S. Court of Appeals.
STERLING HEIGHTS, MI (August 16, 2012) – Rick David, Executive Vice President and Chief Operating Officer of UHY Advisors, Inc., has been appointed to the Board of Directors of UHY International.
NEW YORK, NY (August 7, 2012) – UHY Advisors NY, Inc. today announced it is teaming up with CFO Alliance to address the needs of middle market company executives who are seeking innovate ways to support corporate decision-making against the backdrop of unsettled market conditions. The new partnership between UHY and CFO Alliance provides a national, collaborative platform for finance leaders and experts to openly discuss, debate, and dissect critical opportunities.
As the temperatures start to rise in July 2012, so does Congressional posturing over the future of federal tax policy. Both the Democrats and the Republicans are on record as being in favor of tax reform, but they remain far apart on just what type of reform is best for the country. This issue will highlight some of the present differences in their respective tax reform visions as demonstrated by the bills they have most recently introduced. We will also discuss the increase in Medicare taxes facing many Americans beginning in 2013, now that, at least for the present, the Patient Protection and Affordable Care Act (sometimes referred to as the 2010 Health Care Reform Act) is still with us, based on the recent decision of the U.S. Supreme Court upholding the Act's constitutionality.
UHY Advisors' David Barton, an expert on information security issues, talks with Atlanta's WBS Fox 5 News about the DNSChanger virus.
June 2012 was another relatively quiet month on the Tax front. The principal developments involved (1) an unexpected, but welcomed, relaxation of the rules that the IRS follows in evaluating Offers in Compromise, (2) ASPPA's opinion that any fundamental tax reform, or even tax reform aimed at taxing tax-qualified retirement contributions, will probably not happen in 2012, and (3) a proposal by the Republicans to make Health Care Flexible Spending Accounts more taxpayer friendly. These developments are discussed below:
June 26, 2012 – UHY Advisors' principal David Barton talks with WSB Radio's Pete Combs about data mining and online marketing in relation to the news that Orbitz directs users on Macs to higher-pricing hotels than PC users.
May 2012 was relatively quiet on the Tax front. There were, however, some important developments worth noting, specifically regarding (1) the new health care law, (2) distributions from IRAs, (3) the new 3.8% Medicare Tax, (4) the Republicans stated intention of extending for at least another year the “Bush Tax Cuts, and (5) proposed legislation restricting the ability of states to subject non-residents to their state income tax:
Please join us for this quick hitting lunch hour geared towards petroleum and c-store business owners, chief executives and chief financial officers. Tune in as our experts address current trends in M&A activity affecting the industry and you. Webinar will conclude with an open discussion.
UHY Advisors Taps Beth Bissell as Marketing Manager for Atlanta Office