WHAT'S NEW

Dan Touchstone Music Champion - Our partner Dan Touchstone is an accomplished musician.  Dan has been playing the violin/fiddle since he was a child.  Dan has competed for a number of years in fiddle contests.  We are proud to announce that Dan was the 2011 California State Champion in his group, and came in fourth in the 2011 National Fiddle Championships in his group.  To see a brief perfomace by Dan (his back is to the camera) at the National Championships click here

Foreign Bank Reporting Requirements - The IRS has updated their requirements for reporting foreign bank and financial accounts.  Failure to file the reports can have serious consequences, including large monetary penalties.   Click Here for more information.

Updated Form 1099 Reporting Requirements - The IRS implemented new requirments on 1099 reporting.  They have also increased the penalties for failure to file the forms.  Click Here for more information, and feel free to call us if you have any questions.

RBTK Fall 2011 Newsletter - The current lending environment is pretty difficult and frustrating.  See our current newsletter that discusses how to navigate through the current environment. Click Here

RBTK in the News - We recently wrote an article for the Builder News Magazine addressing isssues and things to consider when transitioning the ownership of a business.  Click here to see the article and learn more about things you should be considering if you are planning to transition your business in the next 2-5 years.

Sales Tax Rate Reduced - On July 1, 2011, the statewide sales and use tax rate decreased from 8.25 percent to 7.25 percent. In areas where there are voter-approved district taxes, the total tax rate related to sales and purchases is the statewide base tax rate of 7.25 percent plus any applicable district tax. For a current listing of California sales and use tax rates by city and county, please visit the state website link http://www.boe.ca.gov/cgi-bin/rates.cgi

Mileage Rate Increased - the optional standard milage rate has been increased to 55.5 cents a mile for all business miles driven from July1, 2011 through December 31, 2011.  The rate in effect for the frirst six month of 2011 is 51 cents a mile. 

Federal Unemployment Tax Rate (FUTA) reduced - Beginning July 1, 2011, the FUTA tax rate will be reduced from 0.8% to 0.6% for all emplyers liable for FUTA.  Payrolls with check dates on or after July 1, 2011 will be calculated at the new rate.  You can refer to IRS publication 15 for additional information.  Here is a link to the IRS website for Publication 15 http://www.irs.gov/pub/irs-pdf/p15.pdf

Scam Relating to IRS Request For Information - There is a new scam attempting to collect your personal information. The IRS does not send emails to request personal information.  The scam comes in an email claiming to be from the IRS requesting information to be completed on Form W-4018.  There is also a fax number to send the information when completed.  Should you receive the email, report the scam to your email provider and contact RBTK if you have any questions. The form sent as an attachment to the scam email is attached here for your reference.