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Does Obamacare Apply To All Small Businesses? I Heard That You Must Have 50 Or More Employees? What Is The Number Of Employees Required For...
User Photo Patrick O'Hara , EA
Tax Professional Level: Tax Enthusiast

The Patient Protection and Affordable Care Act (Obamacare) applies to "applicable large employers", who is generally an employer that employed an average of at least 50 full-time employees on business days during...   Read More
What Are The Taxes That Will Be Imposed On My Small Business If I Am Unable To Comply With Obamacare?
User Photo William Keats
Tax Professional Level: Master Tax Advisor

The tax penalty for the first year, 2014, is $95 per employee or 1.0% of taxable income, whichever is higher. For 2015, the tax penalty is $325. per employee or 2.0% of taxable income. For 2016, it is $695. per...   Read More
I Was Just Made An Offer Of Employment By A US Multinational To Work In The China Subsidiary. Can I Take My Salary In The US If They Allow...
User Photo Chuck Heyde, CPA, CGMA
Tax Professional Level: Tax Wizard

Yes, you can receive your pay in the US even if you are working in China. FYI - regardless of where you receive your pay, you will be taxed in the US (assuming you are a US citizen) as well as taxed in China (...   Read More
User Photo Conrado Mangapit, EA
Tax Professional Level: Tax Enthusiast

I would assume that you'll have a Florida address by the time you file your tax return for the 2012 tax year. Should you decide to use a tax preparation service in Florida they will ask you: 1. When you left...   Read More
User Photo Sanzar Kakar
Tax Professional Level: Tax Enthusiast

Depending on type of business there is a quarterly 2%, 5% or 10% Business Receipts Tax on all gross revenue. In addition there is a 20% Annual Income Tax on all net profit. For more information, visit http://www....   Read More
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User Photo Patrick O'Hara , EA
Tax Professional Level: Tax Enthusiast

Yes, in theory the taxpayer can put money in a traditional IRA each year and then convert it to a Roth IRA later. This is a loophole that was created in 2010. The catch here though, is if the taxpayer has...   Read More
User Photo Hope Shoulders, Esq.
Tax Professional Level: Tax Enthusiast

In general, if the investment income is from passive activity, then the 3.8% net investment income tax will apply. Internal Revenue Code sec. 1411, states that a net investment income tax is imposed at a rate of 3....   Read More
User Photo Brett Layton
Tax Professional Level: Tax Enthusiast

This is tough one. Understandably States do not want to be pinned down and they also want to retain the right to decide on a case-by-case basis. The behavior of the state is likely inversely proportional to the...   Read More

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