Kostecke CPA

Blog

Tax Complexities for Married Same-Sex Couples in WisconsinIn June 2013, the Supreme Court ruled Section 3 of the Defense of Marriage Act unconstitutional. Section 3 limited the definition of marriage to couples of the opposite sex. This change has broad impact on the tax code and on eligibility for certain employee and retiree benefits. The IRS has just begun to set up the rules Read more

Business planThis is a set of questions to consider when you are developing a business plan for an entirely new business, or a new product or service that you are considering adding to an existing business. Read more

Affordable Care Act subsidiesSubsidies to pay for health insurance under the Affordable Care Act (ACA) are available under the following criteria:

  • Income is no more than 400 percent of the federal poverty level for your household size.
  • Read more

Your business planThe business plan should not be primarily for outsiders, such as the bank or the investor group. However, that is often why they are generated. It should be a tool you actually use for running your business.

For a business plan to be useful, it needs to be incorporated into your Read more

Home office deductionThe IRS has an alternate way for you to calculate your home office deduction. Now, instead of keeping track of all of your household expenses for maintaining your home, such as utilities, insurance, maintenance, and lawn care, you can take a flat amount per square foot of office space. This can be a huge benefit to Read more

Business Plans are Vital for a BusinessBusiness plans are documents that tell you and others how you are going to run your business. A plan contains the decisions you have made and why you have made them. It is a comprehensive document that addresses all critical aspects of your business. Read more

Internet sales tax problem revealedThere has been a lot of discussion about the proposed law to impose sales tax on internet sales. First of all, this is not a new tax. If you live in a state with a sales tax, you have always been required to pay “use tax” if the vendor did not collect sales tax. Very few people paid this tax, however, because it was hard to keep track of, or Read more

Affordabe Care Act

Big  changes in health insurance are taking place now as a result of the Patient Protection and Affordable Care Act, or “ACA”. I’ve had a lot of questions about the ACA and how it affects me, as a tax preparer and small business owner, and the clients I serve. Here is a compilation of the questions I’ve researched and the Read more

New Medicare taxesSummer is a great time to contemplate anything but your tax situation. However, this year there are two new taxes that could be significant to you that you should consider now. Both new taxes are related to Medicare funding and higher income taxpayers. Also, both new taxes hinge on how high your modified adjusted gross Read more

What's on your business menu?A restaurant menu is good analogy for what you need to have for your new business. You need to write down a list of what items and services your business will offer. For a new business, your business menu needs to be limited to only the items you are very familiar with and great at providing. Being an entrepreneur, you are naturally Read more