Monday, November 14, 2011

Thinking About Taking Your Business Global?

Thinking about taking your business global? It must be easy-everyone is global these days. Well, that's not necessarily the case. Although, it probably is much easier today than any time ever before, that doesn't mean it is easy. Also, you might be surprised at how relatively few small businesses are actually doing business globally. Our article at Tip: Taking Your Business Global gives you more information on those statistics.

That article also includes 10 questions you should answer before making the decision to go global. For example, have you considered if you will need to adapt your product or marketing approach to serve the global market? That's just one of sever key items to consider.

Retail businesses might want to take a look at Export Now, a new e-commerce venture designed specifically to help U.S. businesses access consumer markets in China.

Monday, November 7, 2011

Social Security Benefits to Increase in 2012, But So Do Medicare Costs

Beginning in January 2012, Social Security recipients will get their first Cost of Living Allowance (COLA) increase since 2009. While we all get excited about pay increases, those recipients on Medicare also have to deal with an overall increase in Medicare costs. Here's a summary of what to expect in 2012:

  • The average Social Security benefit will increase by $43 per month or $516 per year.
  • The average Medicare Part B premium is projected to increase by $3.50 per month (8.1% of the COLA increase).
  • Medicare Part B deductibles will decrease by $22 per year while Medicare Part A deductibles will increase by $24 per year to $1,156.
So much like taxes, there seems to be nothing that is quite straight forward with Social Security or Medicare. For more information, follow this link Social Security Benefits Increase Along With Medicare Costs or visit news and articles at

Friday, November 4, 2011

Beware of Unexpected Tax Refunds

Have you ever thought of what to do if the IRS or state tax authority sends you an unexpected refund? Most people would say "what a great gift" and start thinking about what to spend the money on. However, you probably need to think through the situation before making plans to spend it.
  • If the refunds were sent in error, you can be assessed penalties and interest from the original due date of the tax.
  • Determine why you received the refund. Enlist the assistance of a CPA if necessary.
  • If you believe the refund was in error, return the check with an explanation.
  • Only deposit the check if you truly believe it is due to you.

Porterfield Killingsworth CPA, PLLC is a regional CPA firm serving clients throughout the world from it's offices in northwest Arkansas.