Top Legal and Financial Services in O Fallon, MO 63366
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Select Insurance Group
By Anonymous May 18, 2011
I am the head of our school district's health insurance comittee. I really felt like I understood our new health insurance plan after going through all the benefits with our advisor James. We not only saved a lot of money and made our teachers a lot happier. In addition, After our district purchased , we were followed up with by Mary to answer any questions and not just thrown in some pile of other customers. The whole operation is very personal, professional, and top notch! - Tami Abrams. ...read more
Select Insurance Group
By Anonymous May 18, 2011
Steve saved me some serious money on my car insurance and helped me to really understand what kind of coverage I had. I would definately do business with these guys again - jimmy clausen ...read more
Select Insurance Group
By Anonymous May 16, 2011
we saved almost 1200$ a year with our Travelers Insurance Plan and almost doubled our coverage. ...read more
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IRS raises Mileage Rate to 55.5 Cents per Mile for second half of 2011
IRS Increases Mileage Rate to 55.5 Cents per Mile for second half of 2011 WASHINGTON — www.irs.gov/pub/irs-drop/a-11-40.pdf The Internal Revenue Service today announced an increase in the optional standard mileage rates for the final six months of 2011. Taxpayers may use the optional standard rates to calculate the deductible costs of operating an automobile for business and other purposes. The rate will increase to 55.5 cents a mile for all business miles driven from July 1, 2011, through Dec. 31, 2011. This is an increase of 4.5 cents from the 51 cent rate in effect for the first six months of 2011, as set forth in Revenue Procedure 2010-51.In recognition of recent gasoline price increases, the IRS made this special adjustment for the final months of 2011. The IRS normally updates the mileage rates once a year in the fall for the next calendar year. "This year's increased gas prices are having a major impact on individual Americans. The IRS is adjusting the standard mileage rates to better reflect the recent increase in gas prices," said IRS Commissioner Doug Shulman. "We are taking this step so the reimbursement rate will be fair to taxpayers." While gasoline is a significant factor in the mileage figure, other items enter into the calculation of mileage rates, such as depreciation and insurance and other fixed and variable costs. The optional business standard mileage rate is used to compute the deductible costs of operating an automobile for business use in lieu of tracking actual costs. This rate is also used as a benchmark by the federal government and many businesses to reimburse their employees for mileage. The new six-month rate for computing deductible medical or moving expenses will also increase by 4.5 cents to 23.5 cents a mile, up from 19 cents for the first six months of 2011. The rate for providing services for charitable organizations is set by statute, not the IRS, and remains at 14 cents a mile. The new rates are contained inAnnouncement 2011-40on the optional standard mileage rates. Taxpayers always have the option of calculating the actual costs of using their vehicle rather than using the standard mileage rates. Mileage Rate Changes Purpose Rates 1/1 through 6/30/11 Rates 7/1 through 12/31/11 Business 51 55.5 Medical/Moving 19 23.5 Charitable 14 14 ...read more
By Smith Tax & Bookkeeping June 23, 2011
Reasonable rates - as low as $25.00
We charge $25.00 to prepare and electronically file 1040EZ returns -Federal and Missouri. We also charge $25.00 to prepare the Missouri Senior Citizen "Circuit Breaker" Rent / Property Tax Credit forms. Our other rates are reasonable and based on complexity and time expended. Don't hesitate to catch up if you haven't filed for a few years, you may be surprised to find you had a refund coming. If you wait too long you may no be able to collect on any over-payments. Call and make an appointment today. We're here year-round to help. ...read more
By Smith Tax & Bookkeeping April 25, 2011
Repeal of Expanded Information Reporting (1099MISC) Requirements
Thursday, April 21st, 2011 The Comprehensive 1099 Taxpayer Protection and Repayment of Exchange Subsidy Overpayments Act of 2011 eliminated new information reporting requirements that were created by previous legislation.The Patient Protection and Affordable Care Act of 2010 expanded information reporting to include payments to corporations, “amounts in consideration of property,” and “other gross proceeds” made in the course of a trade or business (including operation of a governmental entity), beginning in 2012. The new law repeals these requirements. You are not required to file Form 1099-MISC for these payments for any year.Existing information reporting requirements remain in effect. Payments of $600 or more for nonemployee compensation made in the course of a trade or business are generally required to be reported on Form 1099-MISC. Certain payments to corporations are required to be reported. See theInstructions for Form 1099-MISCfor more information.at www.irs.govThe Small Business Jobs Act of 2010 provided that anyone receiving rental income from real estate would be treated as receiving income from a trade or business of renting property; therefore, information return requirements applicable to small businesses would be in effect. This provision also is repealed; you are not considered to be in a trade or business solely because you receive rental income. SeePublication 527for more information on rental income and expenses.http://www.irs.gov/govt/fslg/article/0,,id=238635,00.html http://news.smith-tax.com/ ...read more
By Smith Tax & Bookkeeping April 25, 2011