Client Memo – New Website Announcement
We are pleased to announce the launch of our brand new website: www.fbco.com. To make it an effective resource for our clients, our website has been redesigned with a fresh new look and has been updated with the most current accounting and tax-related information and resources. With the redesign, our new website features larger fonts […]
Client Memo – New 1099 Reporting Rules
The passage of the Healthcare Reform bill included some of the most drastic changes to 1099 information reporting in over a decade. In 2012, the Healthcare Reform law will require businesses, governments and charities to issue 1099 forms to all vendors they pay over $600 for goods and services. While the new rules don’t apply […]
Client Memo – IRS Employment Tax Research Program
Beginning in early 2010 and continuing for the next three years, the IRS is conducting an Employment Tax National Research Program (NRP), which is the first employment tax compliance study in 25 years. Under this program, the IRS will randomly select 2,000 taxpayers each year for the next three years for employment tax audits. The […]
Client Memo – CA NOLs Suspended Again
Under the California state tax law, individual and corporate taxpayers can carry a net operating loss (NOL) from one year into future years to reduce taxable income. The state had suspended the deduction of NOLs for tax years 2008 and 2009. On October 8, 2010, the Governor signed the state’s Budget Act of 2010 (the […]
