RBTK

Founded on integrity and industry expertise, we build lasting client relationships by providing unparalleled value to our clients, employees, and partners through superior service, while maintaining a well-balanced lifestyle

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Small Business Tax Calculator

<p>Your browser does not support iframes. Go to the <a href="http://www.smallbusinessmajority.org/" data-mce-href="http://www.smallbusinessmajority.org/">Small Business Majority</a> website to use the calculator.</p>

Calculator property of Small Business Majority and its subsidiary website California Health Coverage Guide

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Phil Mickelson: "Making It" in California

Everyone wants to be a millionaire, but with that status and wealth, comes a millionaire residence, one that is often looked past more and more these days. After the public reaction to Phil Mickelson’s remarks on "Making it” in California?

The publicized "tax" timeline went a little something like this...

California taxes Phil Mickelson's win at the British Open.

Tiger Woods moves, says Mickelson was right about taxes

Mickelson not alone when fleeing from taxes

Living in California has many perks, but tax rates are not among them and millionaires like Mickelson & Woods couldn't agree any more. In November 2012, California ramped up its already high state tax rates retroactively to January 1, 2012. That meant a rate increase of 30% for some high income taxpayers. Those earning $250,000 to $300,000 a year now pay 10.3%, up from 9.3%. For $1 million-plus-earners, California’s rate is 13.3%, up from 10.3%. That's a major tax increase, for even millionaires.

Read the full article on Forbes.com or comment on our Facebook page!

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States with Highest Long-Term Capital Gain TaxRates

Take a look at how California stacks up from The High Burden of State and Federal Capital Gains Taxes. Whatever you think about California, many states on this list from the Tax Foundation have surprisingly high long-term capital gain tax rates:

Denmark 42%

California 33%

France 32.5%

Finland 32%

New York 31.4%

Oregon 31%

Delaware 30.4%

New Jersey 30.4%

Vermont 30.4%

Maryland 30.3%

Maine 30.1%

Ireland 30%

Sweden 30%

Idaho 29.7%

Minnesota 29.7%

North Carolina 29.7%

Iowa 29.6%

Hawaii 29.4%

D.C. 29.1%

Nebraska 29.1%

Connecticut 29%

West Virginia 28.9%

Ohio 28.7%

Georgia 28.6%

Kentucky 28.6%

Inevitably, some complaints about taxes will come from those who pay a lot of them, often after having toiled over a long career. Yet perhaps complaining about taxes is part of the human condition, regardless of income level and other circumstances. Increasingly, perhaps complaining about those who complain is too.

This discussion is not intended as legal advice, and cannot be relied upon for any purpose without the services of a qualified professional. For more information on these statistics visit the Forbes website.

Visit RBTK for all your tax questions, consulting advice and financial planning expertise in California.

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Who's going to file your taxes for 2013? Rosner Brown Touchstone & Keller are right around the corner for all #SanDiego individuals & businesses. Just CLICK HERE to get more information on how we can help you and your #FinancialFuture.

Picture courtesy of San Diego Free Press.

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The biggest mistake a new entrepreneur can make is combining their personal and business finances. 

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Bigger. Better. Improved Financial Software Apps for Businesses. 

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Last Day to File Taxes Has Come and Gone...

Time is up to file your federal income taxes. October 15th marks the 6-month extension date for all 2012 tax returns. If you missed the date, good luck trying to find someone to help. Of the 95,000 IRS employees, nearly 90% are a part of the government shutdown and sitting at home not worrying about your taxes.

If you do have questions or need help with your taxes you can always contact us Rosner Brown Touchstone & Keller through Twitter, Facebook or on our directly to the RBTK office.

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Highest Income Tax Rates are located in the great state of California!

No Income Tax Rates are located in Washington, Florida, Nevada, Wyoming, Texas, South Dakota and Alaska! 

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"Client relationships are our priority. RBTK, LLP strives to develop the most effective strategies and solutions to help your business grow and prosper"

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Thank You Dan Touchstone!

Thank you Dan Touchstone for your hard work and dedication to Rosner Brown Touchstone & Keller (RBTK). Your hard work and dedication throughout the years at RBTK have been greatly appreciated.

We sent Dan off into retirement with a fun and well-deserving retirement party!

Learn about Dan Touchstone on RBTK!

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Do you want RED or GREEN in the US stock market?

Red and Green are the colors used in the U.S. stock market and the Chinese stock market, but how can they have opposite meanings?

The U.S. stock market differs from the Chinese stock market for cultural reasonings. In the U.S. you want to see the color Green for prices to go up and the color Red for prices to go down. That's completely opposite for the Chinese market as they see Red, which indicates prices going down and Green indicates prices going up!

The colors are opposite due to cultural differences. In the West the color Red reminds people of blood, fire and to stop at traffic lights. However, in China the color Red signifies auspiciousness, health, courage, vitality, fortune, peace, happiness and prosperity.  

This information will help when you're looking up the stock market in different countries. For more helpful tips and money information, Like RBTK on Facebook or follow us on Twitter! 

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RBTK Having Fun for a Good Cause! 

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Checking Account vs Savings Account

The decision between a checking account and a savings account can be difficult for individuals who are just beginning their own financial journey. We will breakdown each account and situations you might come across when deciding on where to keep your money safe.

Checking Account  

Checking accounts are known to hold money for a minimal amount of time. This means you can withdraw your money by using checks, automated cash machines, electronic debits and other methods. The checking account is typically used for your everyday withdrawals including paying your bills, buying gas, purchasing movie tickets and other essential charges that go on throughout the day/month.

Savings Account

If you’re looking for somewhere to hold your money in a safe location without touching it for a while, then go with a Savings account. A savings account is used by a retail financial institution in which they pay interest but cannot be used directly as money for medium exchange (i.e. checks). This is your long-term safety net for keeping your money safe.

When deciding on a checking account or savings account just answer yourself this question, Am I going to be needing that money within the next year? If you are, put the money in a checking account for easy access. If you want to keep that money safe for longer than a year and without tempting to touch it, then go with a savings account as you will gain interest too!

For more information on checking account or savings account and other financial tips and news, Follow RBTK on Twitter or Like us on Facebook!

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Professional Help For Startup Businesses

Have you ever thought about starting your own business?  Several people dream of leaving the “rat race” and jumping into the unknowns of self employment.  For those of us who have experienced it before, starting your own business can be the equivalent to walking  into a dark cave that someone once told you will end in gold with your own freedom.

No longer will we be subject to the confines and shackles of punching a clock while making someone else richer.  Owning your own company will give you the time and freedom to do what you want, when you want, as well as run things how you think (and know) they should be ran.  

Does this all sound too familiar to your goals and desires? Business ownership allows you to enjoy the fact that you answer to no one but yourself, which can be the ideal situation to be in.  Even though business ownership can be rewarding, it can also present some challenges that you have never seen when working for someone else.  

As a business owner you know to garner all responsibility that comes along with being an owner.  You now have important decisions to make that will affect the future of your company as well as your income and tax bracket.  Some questions that arise early on in a business include the legal structure to choose for your company.  Will it be best to operate as a sole proprietor?  There was an article on the internet that has told you to be an LLC, but you also saw a book being advertised at Barnes & Noble that told you to “ Inc. yourself” and all of your businesses.  Inc yourself?  What does that even mean?  This decision is very important because with each legal structure the tax implications for the company and its owners are different.  How will you know which legal structure to use to best take advantage of the different tax breaks offered by the governmental institutions?

Other questions that arise include how do you go about raising capital to finance your business.  Will a traditional lender such as a bank  be your best option, or should you go after Angel money?  Angel money; what is Angel money and does it come from the heavens?  This may sound like a joke, but this is a question that has been asked.  These are just a few questions amongst many that will arise when you decide to take the plunge of business ownership and they  are questions that need to be addressed up front while planning they type of business you will run.  The answers to these question are usually written up in a business plan that helps determine the direction of your business as well as gives you a future financial outlook.  Without a business plan too much is left to chance, like shooting at a target into the dark.  Business plans should be written with no stone left unturned, but it should also be flexible to change.

RBTK wrote this blog to help prepare you when starting a small business. There will be rewards, but also consider the challenges that go along with ownership. Think about these  questions that need to be answered when deciding to start your own business.  It can get complicated as it is suggested the new entrepreneur, as well as those who have been there before, should seek outside professional help from attorneys and Accounting and Tax Professionals.   These professionals have the experience, credentials and know how when it comes to starting and running a successful business.  The advice and guidance they give is invaluable and can lead to potential tax savings as well as less headaches on your part.  Their expertise is dealing with financial and tax issues, so the investment in them and their advice is an investment in the future success of your business venture.  

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Affordable Care Act

Before you know it the New Year will be here and small businesses will need to be prepared for 2014. Prepared for what you ask?  2014 is the year that provisions (affecting small businesses) in the Affordable Care Act (ACA) will take effect.  These provisions will most likely have a significant impact on small businesses, employees and their families. Prepare yourself and your business knowing what to be expected in 2014.  Take a look at these aspects of the ACA that relate most directly to small businesses; the creation of new insurance exchanges, tax credit subsidies and penalties if some employers do not offer coverage.

Creation of Insurance Exchanges

Small businesses will have the option of purchasing insurance through a Small Business health Options Program (SHOP exchange).  SHOP exchange is designed to give small businesses a marketplace to shop, compare and purchase different plans.  These SHOP exchanges will be set up by each individual state an each state is required to create one by 2015, or the federal government will run one within the state.  As it pertains to the SHOP exchanges, until 2016 the definition of the small business will include those who have 1-50 employees, or 1-100 Full-Time Equivalent (FTE) employees.  A FTE is calculated by summing the hours of full and part-time employees, for example two part-time employees make one full-time employee.  After 2016 all businesses with fewer than 100 employees will be able to use the SHOP exchange.

Tax Credits to Assist in the Cost of Health Insurance

Small businesses that have fewer than 25 FTE employees may be eligible for a tax credit that will aid in the cost of health insurance.  For a small business to qualify they must have and average annual wage of $50,000 and they must pay at least 50% of the employees’ health insurance.  

Penalties for Not Providing Affordable Care

There is no requirement for a small business to offer health care, but for those who do not offer affordable coverage and have more than 50 employees, they will have to pay a penalty of $2,000 per employee (excluding the first 30 employees).  Those businesses with less than 50 employees are exempt.  The fine will be assessed to businesses with 51 or more FTE employees.  The FTE employees must average 30 hours or more per week.   

Some small businesses owners are opting to pay the penalty rather than pay for insurance for their employees because they figure the cost will be lower.   According to the Maltby and Needleman (2013) of the Wall Street Journal, many small business owners fear that the ACA will increase the cost of providing health insurance to employees. There are ways for businesses to avoid these penalties, and that information goes beyond the scope of this post and should be discussed with a CPA or qualified Tax Professional such as Rosner Brown Touchstone & Keller. You can contact them HERE or follow them on Twitter.

RBTK provides general purpose information on specific accounting topics. The information contained in this article/blog is presented without any guarantee of its correctness.

RBTK does not recommend anyone to apply the information contained in this article/blog in any business. We take no responsibility for any damage/loss caused to any property/person/entity due to the use of the information contained in this article/blog.

RBTK does not represent the sites you might access from this website. We are not liable for any loss/damages resulting from visiting or using those websites.

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RBTK is Now on Goolge+

You can now follow RBTK on Google+!

Catch all the latest news and information on taxes, finance, consultation and more! The RBTK CPA firm offers a variety of services to help individuals and businesses in the San Diego area.

Happy Financing :)

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New Name. New Look. New Newsletter.

Rosner, Brown, Touchstone & Keller is excited to announce a new name for the firm, we will now be called RBTK, LLP. The new name gives us a new look as well, as we officially welcome the new staff at RBTK, LLP. Keeping the history behind Rosner, Brown, Touchstone & Keller and combining the new employees gives us a fresh, but secure new image. 

Our organization would like to recognize our new employees as a part of the team who stands by their commitment to customers and honors the values at RBTK, just as we always did with Rosner, Brown, Touchstone & Keller. The name RBTK keeps the history but is more concise and highly distinguishable. 

We are excited for this new change, as we describe in our Spring Newsletter!  Read about the name change and other RBTK news HERE!

  For more information on RBTK or tax related concerns, visit our website or contact us at your convenience. 

Don't forget to follow us on Twitter and LIKE us on Facebook!