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PMA Advisors Blog: PMA Profiles - Sagar K. Parikh
http://blog.pmaadvisors.com/2012/12/pma-profiles-sagar-k-parikh.html
Wednesday, December 19, 2012. PMA Profiles - Sagar K. Parikh. Sagar Parikh is a partner at Parikh, Mehta and Associates and brings a wealth of knowledge and experience to the firm's clients. Sagar's education and prior work experience serves as a foundation for his client service. He holds a Masters in Business Taxation from the University of Southern California and has spent many years working with the nations largest closely held businesses during his time at Deloitte Tax LLP. Posted by Sagar Parikh.
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PMA Advisors Blog: January 2013
http://blog.pmaadvisors.com/2013_01_01_archive.html
Tuesday, January 8, 2013. What's New on the 2012 1040. There is not much new for the 2012 federal income tax return - other than the annual indexing for inflation. Single (and married filing separate) = $5,950. Married filing joint = $11,900. Head of household = $8,700. Dependent = the greater of earned income plus $300 or $950, not to exceed $5,950. The additional standard deduction amounts for taxpayers age 65 and older or blind are:. Single or head of household = $1,450. Posted by Sagar Parikh. Divide...
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PMA Advisors Blog: Small Business Stock Exclusion for California Declared Unconstitutional
http://blog.pmaadvisors.com/2012/12/small-business-stock-exclusion-for.html
Friday, December 21, 2012. Small Business Stock Exclusion for California Declared Unconstitutional. Case was a win for the taxpayers who filed the appeal, but is turning out to be a costly decision for all other small business stock owners. The FTB has determined that because the California Court of Appeal held that R&TC §§18152.5 and 18038.5 (California’s small business stock provisions) are unconstitutional, they are now invalid and unenforceable. (FTB Notice 2012-03). Posted by Sagar Parikh. Sagar K&#...
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PMA Advisors Blog: Budget Deal Lets More Savers Convert To Roth 401(k)s
http://blog.pmaadvisors.com/2013/02/budget-deal-lets-more-savers-convert-to.html
Wednesday, February 13, 2013. Budget Deal Lets More Savers Convert To Roth 401(k)s. US workers willing to take tax pain today in exchange for tax-free gains on earnings in their 401(k) retirement accounts later have a new avenue to do so. Contributions to a traditional 401(k) account are tax- deferred, with taxes paid at ordinary income rates when the money is withdrawn in retirement. When savers put money into a Roth 401(k) account, they pay taxes on the money upfront in exchange for tax-free withdr...
blog.pmaadvisors.com
PMA Advisors Blog: February 2012
http://blog.pmaadvisors.com/2012_02_01_archive.html
Friday, February 10, 2012. IRS Reverses Course on Credit and Debit Card Receipt Reporting. Interesting article from Tax Analysts. In an apparent change of course, the IRS will not require reconciliation of gross receipts and merchant card transactions on Forms 1120, "U.S. Corporate Income Tax Return," and other business income tax forms, according to a February 9 letter sent to the National Federation of Independent Business (NFIB). For an NFIB release, see Doc 2012-2717. Section 6050W, which was added t...
blog.pmaadvisors.com
PMA Advisors Blog: IRS Releases Guidance on New Obamacare Investment Tax
http://blog.pmaadvisors.com/2012/12/irs-releases-guidance-on-new-obamacare.html
Tuesday, December 4, 2012. IRS Releases Guidance on New Obamacare Investment Tax. 10 Things We Learned from the New Obamacare Investment Tax Regulations via. Yesterday, the IRS released long-awaited guidance on the additional “Obamacare” tax on net investment income slated to take effect on January 1, 2013. This guidance came in the form of proposed regulations under Section 1411 that, oddly enough, are not effective until tax years beginning. The taxpayer’s “net investment income,” or. Income and gains ...
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