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Kerr & Kerr LLC updates their website and launches Kerr & Kerr Newsletter to communicate more frequently with clients and subscribers. Enhance your service experience. Contact us with feedback and suggestions.  Add our email and domain to your “safe list”  and avoid subscriptions from going to junk mail Continue reading

Just like W.C. Fields’ common sense cure for insomnia (get lots of sleep), many people offer equally simplistic advice about getting out of debt: just pay off your bills! If only it were that simple. Getting into debt is easy. Getting out can be a bear. We get into debt innocently enough:... Continue reading

The Florida Sales Tax Holiday is set for August 12 through August 14, 2011. The Florida legislators have approved this measure with some notable changes:  2011 Florida Sales Tax Holiday prices for eligible item have increased. Books are no longer included; last year, books were eligible for the Florida Sales Tax Holiday Continue reading

Save Money and Have a Vacation! Have you wondered how you can save money on vacation this year? The options range from two-week, first-class cruises in the Mediterranean to snoozing in the kiddy pool in the backyard. Obviously, the decision is about more than choosing where to go and what to do. It also presents an opportunity to decide how to manage a major portion of your discretionary dollars Continue reading

Federal Unemployment Tax 2011 Effective July 1, 2011, the Federal Unemployment Tax Act (FUTA) rate is reduced from 0.8 to 0.6 percent for all employers liable for Federal Unemployment Tax. What is the FUTA Tax Rate?  The Federal Unemployment Tax Act (FUTA) is a payroll or unemployment tax that is only paid by employers Continue reading

Asset protection is a method of managing risks and protecting your assets from being part of a lawsuit. Because our society has become increasingly litigious, asset protection is more critical today than it used to be. Individuals in professions like medicine, business, or owners of rental real estate may have always been concerned with asset protection, but it’s now a Continue reading

IRS Fuel Cost Adjustments and You The current rise in fuel costs has triggered the Internal Revenue Service to announce a modification of the IRS standard mileage rates for business, medical or moving expenses, effective July 01, 2011. Read the details below to determine if the IRS fuel cost adjustments affect you: Business: The new business rate is now 55 Continue reading

Options for 2011 Tax Refund The days of 24-hour tax refund have past.  Over the past year, several federal agencies have raised concerns about the Refund Anticipation Loan (RAL) program.  These concerns prompted several large banking organizations to discontinue RAL products last year.  Earlier this year, all the remaining banks were instructed by the FDIC to stop offering RALs at the end of the 2010 tax filing season Continue reading

Generally, most income you receive is considered taxable if that income is available to you, regardless of whether it is actually in your possession or not. There are situations when certain types of income are partially taxed or not taxed at all. Examples are as follows: Life Insurance If you surrender a life insurance policy for cash, you must include in income any proceeds that are more than the cost of the life insurance policy Continue reading

The following tax tips will help you gain an advantage with your return 1. Use up your flexible-spending account. In 2010 your employer deducted money from your paycheck to cover your child-care and medical expenses. Remember to get that money back. Gather your receipts from doctors, clinics, hospitals and pharmacies for services provided to you and your dependents during 2010 Continue reading