Tag Archives: IRS

WHAT’S NEW WITH THE FICA REFUND?

Posted on October 18, 2012 by Andrew Schwartz, CPA

In a shocking development, the IRS recently announced that they will be honoring the FICA tax refunds submitted by residency programs and individual doctors.  The catch is that only FICA taxes paid prior to 4/1/05 qualify. For more information, go … Continue reading →

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COST OF MEDICAL DEVICES TO INCREASE JAN.1 – PT.1

Posted on October 11, 2012 by Andrew Schwartz, CPA

Owners of medical and dental practices beware! Due to a provision included in the Affordable Care Act, the cost of medical devices is set to increase by 2.3% on January 1, 2013. Called an Excise Tax, manufacturers are required to … Continue reading →

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HOW LONG DO YOU NEED TO KEEP YOUR TAX RECORDS?

Posted on September 27, 2012 by Andrew Schwartz, CPA

At my firm, we get this question all the time: “How long do I need to keep my tax records?” Here is the IRS answer to this question: Well organized records make it easier to prepare a tax return and … Continue reading →

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IRS: Job Search Expenses Can Be Tax Deductible

Posted on August 29, 2012 by Andrew Schwartz, CPA

Many healthcare professionals work based on the Academic Calendar. That means that a lot of Doctors switch jobs over the summer. According to our friends at the IRS in their IRS Summertime Tax Tip 2012-06: Summertime is the season that … Continue reading →

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