Author Archives: Mario V. Lucibello, CPA

The Entrepreneur’s guide to Subcontractor Information Reporting (Forms 1099, W9, W8Ben etc etc).

Ok I get it, 1099’s are boring. I know. But I am writing this post on January 20th, roughly 10 days before the 1099 due date and, as you can imagine, my inbox is flooded with boring questions on this … Continue reading

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Income Tax Compliance for Amazon FBA Sellers

Amazon FBA (fulfilled by Amazon) is really stirring the pot in the area of taxes. For a while now I have heard about the potential multi state tax concerns of using Amazon FBA, but I was never asked by any … Continue reading

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What is “Household Income” under the affordable care act?

From the horses mouth: The term “household income” means, with respect to any taxpayer for any taxable year, an amount equal to the sum of— (i) the modified adjusted gross income of the taxpayer, plus (ii) the aggregate modified adjusted gross incomes … Continue reading

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Deductible Alimony Becomes Non-deductible??

Recently released, TC Memo 2013-166, reiterates the power the tax law has, even over your divorce agreement. In Summary, the tax court held that a taxpayer cannot deduct a lump sum payment to his former spouse as alimony. The lump … Continue reading

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Summary of American Taxpayer Relief Act of 2012 (H.R. 8)

President Obama has signed into law the American Taxpayer Relief Act of 2012 (H.R. 8) that allows tax rates to rise on the nation’s highest earners while also extending dozens of tax cuts for individuals and businesses. Specifically, the bill: … Continue reading

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Big thanks to our friends at Cramer & Anderson and the New Milford Spectrum for publishing this piece on recent changes in medicaid planning. Follow the link below.

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IRS Gets Tech Savvy When Finding Undisclosed Offshore Bank Accounts

How is it that Facebook and Linkedin magically suggest “people you may know” with so much accuracy? Being a tax guy and not a computer programmer I don’t know the exact answer, but I can say with reasonable certainty that … Continue reading

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Coming This September – IRS Transfer Pricing Field Operation Department

Armed with a full time director and 60 agents, the IRS will be launching a full time department focused solely on your international transfer pricing arrangements. The first order of business will be developing a “road map” for all international … Continue reading

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Will I be subject to the3.8% Medicare surtax in January 2013?

Beginning January 1st 2013 the 3.8% Medicare surtax will officially be in effect. Simply, the tax will be imposed on the lesser of: Net investment income or, Modified adjusted gross income (MAGI) over 200,000 for single filers and 250,000 for … Continue reading

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Let me start by saying I do not get any payment or any form of compensation for “endorsing” accounting software or anything like that, I am just an avid user of MANY different types and came across this and was … Continue reading

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