Quarterly Newsletter August, 2012
As an extension of our focus to develop lasting professional relationships with our clients, we will begin issuing quarterly “update” letters via e-mail. Please provide us with a current e-mail address so we may continue to provide you with our updates. These letters will include timely information of interest, new developments, and important deadlines. As this is our first letter, please let us know what you think! Please also check out our company Facebook page, follow our LinkedIn company page, or contact us via www.robinsonaccountingfirm.com.
Kelly Ward has officially been recognized by the State of Alaska as a Certified Public Accountant (CPA).
Amy Borneo and Kirsty Steele have both been recognized by the Internal Revenue Service as an Enrolled Agent (EA).
Our office welcomes three new full-time staff members:
Dory Casper, MBA: A recent UAF graduate, Dory joins our firm after 17 years at the Fairbanks Daily News-Miner.
Jennifer Claxton: Jennifer, a UAF graduate born and raised in Fairbanks, joins us with 4 years of accounting experience.
Janeen Macom: Janeen adds 23 years of customer service experience to our firm as our newest administrative assistant.
EXTENSION DEADLINES AND TAX PLANNING
-Business extensions are due September 15 and personal extensions are due October 15. If you have not yet filed your 2011 taxes, NOW is the time to get the ball rolling to avoid a last minute rush.
-Summer is the ideal time to sit down with one of our professionals to discuss tax planning. There will be some significant potential tax consequences on the horizon if Congress allows certain existing tax laws to expire on January 1, 2013.
The major tax changes now set to occur at the beginning of 2013 if Congress does not act are:
–Individual income tax rates will go up.
–Long-term capital gains rates will rise.
–The gift and estate tax exemption will drop from $5.12 million to $1 million. Estate assets more than the $1 million exemption will be taxed at the maximum 55% rate.
–Taxpayers whose income exceeds a set “threshold amount” will be subject to a 3.8% Medicare surtax on net investment income, effectively raising their marginal income tax rate. An affected taxpayer in the 39.6% bracket- the highest bracket in 2013- will have a 43.4% marginal rate. This will apply to individuals and trusts and estates.
It is important to be proactive when it comes to tax planning. Please give us a call now to discuss how these laws may affect you.
-If you are a corporate officer and need to look into paying yourself, now is an excellent time to set that up. Call 474-4576 to set up an appointment.
SPECIAL SUMMER EVENT
We are proud to co-sponsor MOUNTAIN STAGE WITH LARRY GROCE! The show will feature Hot Club of Cow Town and Bearfoot, among other diverse musical acts. Please join us for this Live NPR Radio Broadcast on August 17 and 18, 7pm, at the Davis Concert Hall. Tickets are ON SALE NOW at Grassroots Guitar, If Only – A Fine Store, and on the UAF campus in the Eielson Building.
We hope you have had a wonderful summer, a successful year, and we take great pleasure in serving you!!
The staff at
Robinson & Associates PC