Nexia Cardona & Co. CPA, PSC

23/01/2014

Optimizing the Tax Consequences of Inbound Investments into the US from the UK, Brazil, Venezuela and Colombia...

23/01/2014

Tax Planning with the U.S. Virgin Islands and Puerto Rico -Recent Developments, Tax Incentives, and Litigation...

23/01/2014

23/01/2014

2013-2014 International Tax Conference - Florida Institute of Certified Public Accountants

17/12/2013

Elimina Recargos, Intereses y Penalidades...
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Eliminarán recargos, penalidades e intereses

16/11/2013

Does your CPA Firm has a World-Class tax department?
- Provides great service
- User-friendly services
- Responsiveness to client questions and ideas
- Creativity as well as precision
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NCCo has interested, interesting, and excited people working in an environment that fosters everything a World-Class tax department should do...

14/11/2013

Social Security wage base increases to $117,000 for 2014

The Social Security Administration has announced that the wage base for computing the Social Security tax (OASDI) in 2014 increases to $117,000 from $113,700, which was the wage base for 2013. The $3,300 increase, which is about 2.9%, is due to an increase in average total wages.

For 2014, the F**A tax rate for employers is 7.65% each—6.2% for OASDI and 1.45% for HI. For 2014, an employee pays:
• 6.2% Social Security tax on the first $117,000 of wages (maximum tax is $7,254.00 [6.2% of $117,000]), plus
• 1.45% Medicare tax on the first $200,000 of wages ($250,000 for joint returns; $125,000 for married taxpayers filing a separate return), plus
• 2.35% Medicare tax (regular 1.45% Medicare tax + 0.9% additional Medicare tax) on all wages in excess of $200,000 ($250,000 for joint returns; $125,000 for married taxpayers filing a separate return). (Code Sec. 3101(b)(2))

For 2014, the self-employment tax imposed on self-employed people is:
• 12.4% OASDI on the first $117,000 of self-employment income, for a maximum tax of $14,508.00 (12.40% of $117,000); plus
• 2.90% Medicare tax on the first $200,000 of self-employment income ($250,000 of combined self-employment income on a joint return, $125,000 on a separate return), (Code Sec. 1401(a), Code Sec. 1401(b)), plus
• 3.8% (2.90% regular Medicare tax + 0.9% additional Medicare tax) on all self-employment income in excess of $200,000 ($250,000 of combined self-employment income on a joint return, $125,000 for married taxpayers filing a separate return). (Code Sec. 1401(b)(2))

There is a maximum amount of compensation subject to the OASDI tax, but no maximum for HI.
• RIA illustration: On a salary of $117,000 (or more), an employee and his employer each will pay $7,254.00 in Social Security tax in 2014.
• RIA illustration: A self-employed person with at least $117,000 in net self-employment earnings will pay $14,508.00 for the Social Security part of the self-employment tax in 2014.
• RIA observation: Self-employed workers deduct half of their self-employment tax above-the-line in arriving at adjusted gross income.

06/11/2013

http://www.forbes.com/sites/billconerly/2013/05/29/interest-rate-forecast-2013-2014/

Interest rates will remain low, but long-term rates are not quite so low as they have been. That’s the nutshell. Before explaining the numbers and the reasoning, let me explain my view of interest rate determination. Short-term interest rates are largely determined by the central bank. For those of…

25/10/2013

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Nexia International is a leading worldwide network of independent, high quality accounting and consulting firms, which helps to meet the business and financial needs of organisations and individuals with an international outlook.

23/10/2013

http://nexia.com/NexiaInternationalwelcomesnewmemberfirmsinBulgariaPoland

Nexia International is a leading worldwide network of independent, high quality accounting and consulting firms, which helps to meet the business and financial needs of organisations and individuals with an international outlook.

20/10/2013

Conócenos... http://youtu.be/qq9K8eV_yMI

Nexia International Corporate video (English version) http://www.nexia.com/

16/08/2013

"The Internal Revenue Code is not common sense"...

"You have to learn the rules of the game, and then you have to play better than anyone else..."