CPA's, Accountants, International Tax Consulting, Estate Trust & Gift Planning, Not-For-Profit Audits, Employee Benefits Audit, Form 5500 Preparation,  State & Local Tax,  Valuation & Forensic Accounting in Phoenix, Scottsdale, Tempe & Casa Grande AZ

March 3, 2010 - Henry & Horne, LLP will be conducting a dental symposium on April 30th and May 1st at the Scottsdale Plaza Resort.

At the symposium attendees will learn how to obtain a better work/life balance while finding hidden wealth in their practices.

Presenting will be Thomas M. Cooper, JD, CLU, ChFC, the Managing Director of the Health Care Consulting Group at Henry & Horne, LLP. Tom is the former leader and co-developer of the Mercer Transitions Company and has been advising dental, medical and other professional service businesses for twenty years.

The symposium is open to all dental professionals and their spouses. For more information on the symposium, or to RSVP please visit our website at www.henryandhorne.com or contact Heather Mason at (480) 483-1170. Space is limited!

February 24, 2010 - Accept no substitute.

Fortunately, you can forget that slogan when events like natural disasters or bankruptcies cause your employer to neglect issuing your W-2. The IRS will accept a substitute in situations that leave you unable to obtain year-end wage statements.

• What to do. First, make an attempt to get your W-2 by contacting your employer. You can also ask the IRS to do the nudging for you.

If those remedies fail, your next step is to complete Form 4852, Substitute for Form W-2, Wage and Tax Statement.

• What you'll need. Since Form 4852 is a replacement for your W-2, you'll need the same information shown on that statement, including your employer's name, address, and
federal identification number. You can estimate your 2009 wages and withholdings, using pay stubs or another reasonable method.

• What else to do. Consider waiting until April to file your return. That way you avoid having to prepare an amended return if you do receive the actual W-2 and it differs from your estimate.

If you have to use Form 4852, mark your calendar to check next year's annual social
security estimate of your potential future benefit. You'll want to be sure the wages are included in the "earnings record" portion of the statement.

Call us if you need additional information about how to proceed when you're missing a W-2.

February 18, 2010 - Every year Arizona Business Magazine Ranks the best of Arizona’s Businesses in select categories. Henry & Horne, LLP has been lucky enough to have been ranked every year since its inception. These rankings would not be possible without the help of our clients, contact and referrals voting for us!

This year is no different. We need your help to make Henry & Horne number one. Click on the link below, put in your email address and it will automatically vote for Henry & Horne. It is quick, easy and remember every vote counts! The voting deadline is July 31, 2010. Thanks in advance for your help in making Henry & Horne number one!

www.hhcpa.com/vote

February 17, 2010 - If you received Social Security benefits in 2009, you need to know whether or not these benefits are taxable. Here are seven facts the Internal Revenue Service wants you to know about Social Security benefits so you can determine whether or not they are taxable to you.

1.  How much – if any – of your Social Security benefits are taxable depends on your total income and marital status.

2. Generally, if Social Security benefits were your only income for 2009, your benefits are not taxable and you probably do not need to file a federal income tax return.

3. If you received income from other sources, your benefits will not be taxed unless your modified adjusted gross income is more than the base amount for your filing status.

4. Your taxable benefits and modified adjusted gross income are figured on a worksheet in the Form 1040A or Form 1040 Instruction booklet.

5. You can do the following quick computation to determine whether some of your benefits may be taxable:

• First, add one-half of the total Social Security benefits you received to all your other income, including any tax exempt interest and other exclusions from income.
• Then, compare this total to the base amount for your filing status. If the total is more than your base amount, some of your benefits may be taxable.

6. The 2009 base amounts are:

• $32,000 for married couples filing jointly.
• $25,000 for single, head of household, qualifying widow/widower with a dependent child, or married individuals filing separately who did not live with their spouses at any time during the year.
• $0 for married persons filing separately who lived together during the year.
  

7. For additional information on the taxability of Social Security benefits, see IRS Publication 915, Social Security and Equivalent Railroad Retirement Benefits. Publication 915 is available at IRS.gov or by calling 800-TAX-FORM (800-829-3676).