IRS e-News for Small Businesses

 

e-News for Small Businesses February 16, 2011
Tax Resources for Small Businesses Small Business and Self-Employed One-Stop Resource Small Business Forms & Pubs Small Business Events e-File for Businesses and Self-Employed Businesses with Employees Small Business Products Self-Employed Individuals S Corporations Other Resources Find it Fast! All Forms and Pubs Electronic IRS Federal Tax Gap Retirement Plans Tax Information for Charities and Other Non-Profits State Links Other Agencies SSA/IRS Reporter Back to Top	Issue Number:  2011-4 Inside This Issue Health insurance deduction reduces self-employment tax Do you barter? Lactation expenses as medical expenses Recent IRS announcements     1.  Health insurance deduction reduces self-employment tax Eligible self-employed individuals can use the self-employed health insurance deduction to reduce their Social Security tax in addition to their income tax liability for the 2010 tax year. Related link: Tax Tip 2011-31 Important Tax Law Changes for 2010 Back to top   2.  Do you barter? The fair market value of property or services received through barter is taxable income. Related links: Tax Tip 2011-33 Four Facts About Bartering  Bartering Tax Center  Do You Barter? video   Back to top   3.  Lactation expenses as medical expenses Expenses for breast pumps and supplies that assist lactation are reimbursable under flexible spending arrangements or similar plans.  Related link: Announcement 2011-14  Back to top   4.  Recent IRS announcements IR-2011-16 IRS Begins Processing Tax Forms Affected by Late Tax Changes; Taxpayers Can e-File Immediately FS-2011-09 IRS FY 2012 Budget Proposal Summary IR-2011-14 Second Special Voluntary Disclosure Initiative Opens; Those Hiding Assets Offshore Face Aug. 31 Deadline Special Edition Tax Tip 2011-01 Why Employees and Retirees May See Changes in 2011 Payments and Withholding  Back to top Thank you for subscribing to this IRS e-mail service. This message was distributed automatically from the mailing list e-News For Small Businesses. Please Do Not Reply To This Message.

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