Record number of shoppers seen on long holiday weekend

  1. Record number of shoppers seen on long holiday weekend

    Earlier openings and aggressive promotions paid off for U.S. retailers during Thanksgiving weekend, bringing a record number of shoppers to stores and retail websites. The National Retail Federation said shoppers spent $52.4 billion during the four-day weekend, up from last year’s $45 billion.

  2. Happy Thanksgiving!

    Thank you to everyone who donated to the Harvest International Food Drive this year! We greatly appreciate everyone assisting with helping our community. We’d like to give a special thank you to Halycon Underwriters, Inc. for their generous donation! Have a safe and Happy Thanksgiving from everyone at McCrady, Hess & Ruth!

  3. A Thanksgiving meal gets more expensive by the year, AFBF finds

    The cost of a typical Thanksgiving Day meal has risen 13% from last year to nearly $50 this year, according to the American Farm Bureau Federation. Rising commodity and food prices are the culprit, according to a study by 24/7 Wall St., which found that the cost of a 16-pound turkey is up 22.1% from last year; the cost of fresh cranberries by 2.9%; sweet potatoes, 2.1%; green peas, 16.6%; and rolls, 8.5%. 24/7 Wall St. (11/10)        

  4. Florida Charter School Conference

    McCrady, Hess & Ruth will be at this year’s Florida Charter School Conference! The conference takes place November 14-16, 2011, in Orlando, Florida, at the DoubleTree Hotel at the Entrance to Universal Orlando. We will be at booth # 512 and consistent with last year, we will be giving away $500! We hope to see all of our clients there!

  5. IRS Initiatives for Return Preparers

    According to a post entitled “Frequently Asked Questions: Fingerprinting Requirements” on www.irs.gov, the IRS “is still considering proposals that would require certain tax return preparers to undergo fingerprinting, or some other type of background check, as part of the suitability check required to obtain a PTIN.” However, in an 11/8/11 speech to the American Institute of CPAs, IRS Commissioner Doug Shulman stated that the IRS has “decided to hold off on fingerprinting as we consider the issues that have been raised, and have further discussions with interested parties. Of course, for return preparers who are not CPAs, attorneys, or enrolled agents we’re still going ahead with the launch of the new Registered Tax Return Preparer testing program, which we expect to be up and running soon.”

  6. IRS will send letters to “high-risk” tax return preparers

    The Internal Revenue Service will send letters to tax preparers it has identified as high risk, Commissioner Douglas Shulman said at the AICPA’s National Tax Conference. “The letters are intended to bring to these return preparers’ attention that we’ve noticed some questionable traits” on some of their returns, he said. The IRS also will make more personal visits to preparers with “egregious” error rates. Bloomberg Businessweek.

  7. Thanksgiving Food Drive!

    Consistent with our work with non-profits, McCrady, Hess & Ruth CPAs is hosting a Thanksgiving Food Drive in the Maitland Forum. The drive will run from Monday November 7th, to Friday November 18th. When the drive is complete, all goods will be donated to Harvest Time International, Inc. If you would like to donate any nonperishable goods, please visit 2600 Lake Lucien Drive, or contact us at 407-478-4020 for more information. Please be sure to check all expiration dates as expired goods cannot be donated. We encourage and appreciate any donations!

  8. Are you a 2% or more owner of an S Corporation?

    Amounts paid by the corporation for your health insurance premiums must be included in Box 1 of your W-2 form for 2011. The amount should be provided to your payroll administrator by year end. If you would like assistance with the calculation, please call our office we would be happy to assist you.

  9. Are you on Facebook or Linkedin?

    Check out our pages!

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  10. Attention Business Owners:

    Remember if you pay independent contractors (non-employee) $600 or more in total during the year, make sure you have a completed form W9 on file. The rules require businesses to send Form 1099-MISC to independent contractors on or before January 31, 2012. The Miscellaneous Income, for each person to whom you have paid during the year: At least $10 in royalties or broker payments in lieu of dividends or tax-exempt interest; At least $600 in rents, services (including parts and materials), prizes and awards, other income payments, medical and health care payments, crop insurance proceeds, cash payments for fish (or other aquatic life) you purchase from anyone engaged in the trade or business of catching fish, or, generally, the cash paid from a notional principal contract to an individual, partnership, or estate; Any fishing boat proceeds; or Gross proceeds of $600 or more paid to an attorney.