Welcome to Keller & Owens’ Blog. It brings you the latest tax and financial news that matter to your bottom line.

Take Time to Review Your Estate Plan

The “Taxpayer Relief Act” signed on January 2, 2013, permanently sets the estate and gift tax exemption at $5,000,000 and the top tax rate at 40%. The exemption amount is adjusted annually for inflation, which puts the 2012 exemption at $5,120,000 and the 2013 exemption at $5,250,000. The annual gift tax exclusion for 2013 is set at $14,000 per recipient. Read more

How Your Small Business Can Compete Against the Big Boys

When Starbucks or Wal-Mart or Home Depot comes to town, how can a small business successfully compete? That’s a tough question, one that’s been the subject of numerous magazine articles, Internet blogs, and doctoral theses. One strategy that doesn’t work is doing nothing — sitting back to watch what happens. Read more

New Withholding Obligation for Employers

The Medicare tax on earned income increases this year for individuals earning more than $200,000 and married couples earning more than $250,000. The tax on earnings above these thresholds will increase from 1.45% to 2.35%. This tax increase will also apply to self-employment income exceeding the threshold amounts. Read more

Filing Reminder For Nonprofit Organizations.

Nonprofit organizations are required to file annual reports with the IRS. Read more

Are You Giving the IRS an Interest-Free Loan?

Will you be among the thousands of taxpayers who get a big tax refund this year? While most Americans happily accept their tax refund checks, smart taxpayers understand that refunds actually cost them money. Here’s why: Read more