You’ve bought a lottery ticket or two in your time, right? The Powerball jackpot hits a kajillion dollars, and you realize you really can’t win if you don’t play. So you buy a ticket or two just to nurse that fantasy of champagne wishes and caviar dreams. Forget the reality that most lottery players never win, and even the ones …
 Person CPA GroupMatthew Person, CPA Todd Wilson, CPA 504-780-8299  The 2016 presidential election is 20 months away. Sadly, for those of us who don’t watch C-SPAN for fun, that basically means it’s right around the corner. (Keep a sharp eye out for negative campaign ads, coming soon to a TV near you!) Candidates are already lining up donors and hustling …
The Social Security Administration has announced that the wage base for computing the Social Security tax (OASDI) in 2014 increases to $117,000 from $113,700, which was the wage base for 2013. The $3,300 increase, which is about 2.9%, is due to an increase in average total wages. The Federal Insurance Contributions Act (FICA) imposes two taxes on employers, employees, and …
AFFORDABLE CARE ACT Obamacare requires a significant amount of new reporting and recording, as of 1/1/2015. Here are some of the guidelines to which we would like to draw your attention. This may apply to your company if 1. you have fewer than 50 employees or 2. you have fewer than 50 employees but are a member of an ownership …
 Getting mail from the IRS is rarely something to celebrate. If it’s a bill, consider yourself lucky  at least you can just pay it and be done. If it’s a “CP 2000” notice proposing a change to your taxes, get ready for a ride on the paperwork tilt-a-whirl. If it’s an audit notice, all bets are off. (Relax  …
If you were uninsured for all of, or part of, 2014, you may have to pay a penalty when you file your return. There are many exemptions available for this penalty, such as a hardship exemption if you had high medical expenses. There are also exemptions for brief lapses in coverage or if coverage would cost more than 8% of …
If you received subsidies in 2014 to reduce the cost of health care from the marketplace, you should receive Form 1095-A. Form 1095-A shows the tax credits the insurer received on your behalf. You should receive this form by January 31. This document must be received in order to complete your 2014 tax return. If you have not received it …
As if tax forms were not already complicated, now you have to throw in the new healthcare laws. On your 2014 tax form you will have to indicate if you had healthcare for the full year. But that’s not all there is to do! You will be receiving forms in the mail in January and you will have to calculate …
Matthew Person, CPA Todd Wilson, CPA Person CPA Group 3200 Lake Villa DriveMetairie, LA 70002(504) 780-8299 Fax 1-800-799-1292www.personhuffcpa.com  New York Yankee shortstop and future Hall-of-Famer Derek Jeter has played his last Major League Baseball game. In his last game,he chopped a single to third in the third inning to drive in a run, then took himself out for good. That final …
New York Yankee shortstop and future Hall-of-Famer Derek Jeter has played his last Major League Baseball game. In his last game,he chopped a single to third in the third inning to drive in a run, then took himself out for good. That final hit brings his total to 3,465 hits, along with a .310 batting average, five Gold Glove awards, and …
