Happy New Year!

Gerdes Dodge is thankful for the patronage of all our clients during 2011, and we look foward to working with all of you in 2012.  We are currently accepting new clients and consider it an honor to be recommended to your friends, family and clients.

Thanks,

Gerdes Dodge

1099 Reporting in 2011, REPEALED!

For once the politicians got it right!  This rule was repealed in April of 2011, and the original rules apply at this time. 

New 1099 reporting rules start as of January 1, 2011.  For those of you with rental properties you will now be subject to the same reporting rules as most businesses.  Any services you have performed, repairs, construction, landscaping, and CPA services, in excess of $600 will need to be reported to the IRS on form 1099.  There are penalties for not reporting so please call us with any questions.

Reminder for S-Corporations

Health Insurance paid by the company for a more than 2% owner of a S-Corporation is required to be included on the owner's W-2 at the end of the year.