CERTIFIED PUBLIC ACCOUNTANTS                                                                      solutions for a taxing world    In early September Neece, Malec, Seifert & Vitaz entered into an agreement to continue providing services to clients of Michelle Knapp CPA & Associates located at 38 W. Main Street, Madison, Ohio. All of our firm Partners and our entire staff look forward to continuing the relationship already developed by Michelle and her staff. To arrange a meeting at our Madison office, please call (440) 428-1801.   At Neece, Malec, Seifert, & Vitaz Inc., we know that an informed client is the best client. And the Internet is a great education resource, so we've selected a few helpful articles and appropriate updates for you to view.  Just click on the article titles below to view the complete text. Recent Updates: Easy to Understand Resource for the Health Reform We have enjoyed this site, and feel it is a good resource to more readily understand the recent changes concerning the health reform, http://healthreform.kff.org/. The slideshow was really helpful.   Dec 29, 2010 IRS Update from Publication 15 (Circular E) Please note this new important update that was just release by the Department of Treasury, Internal Revenue Service as it relates to Social Security and Medicare tax for 2011:  For 2011, the employee tax rate for social security is 4.2%. The employer tax rate for social security remains unchanged at 6.2%.  The 2011 social security wage base limit is $106,800.  in 2011, the Medicare tax rate is 1.45% each for employers and employees, unchanged from 2010.  There is no wage base limit for Medicare tax. If you use Quickbooks or other payroll software, please be sure you download or update to the most current 2011 tax tables; and if you manually calculate your payroll, implement this and the related withholding tax tables as soon as possible, but not later than January 31, 2011.   IRS Issues Proposed Regulations to Discontinue Paper Coupons (8109B Coupons) In ir-2010-092, the IRS recently announced proposed regulations (REG 153340-09) that eliminate the ability for taxpayers to deposit taxes using paper coupons. Since the Treasury Department will no longer maintain the paper coupon system after December 31, 2010, the proposed regulations eliminate rules related to that system. Therefore, it is vital that every business enrolls for EFTPS immediately.  Please see the attached EFTPS How to as well as the IRS news item that addresses this issue.   Annual Title Agency - Ohio SB 185 Audit Title Agencies in Ohio are now required to have a Certified Public Accounting firm complete an annual review. This includes all independent agencies and corporate branches escrowing transactions with the State of Ohio. All agencies must have a review done between September and December 2011 for the period of September 1, 2010 - August 31, 2011!