Increase loyalty and decrease the tax burden of your employee with these non-taxable perks. Employee Benefits Uncle Sam Won't Tax Tax Freedom Day 2012 arrived on April 17 this year. According to the Tax Foundation, that means every dollar that Americans earned from January 1 through April 17 went to pay federal, state and local income taxes. Everything earned from April 18 until December 31 is yours to keep. Having to work almost 4 months just to pay taxes each year is enough to make anyone … [Read more...]
Tenga cuidado con las tácticas para pagar menos impuestos
¿Qué es un refugio fiscal? Los refugios fiscales son transacciones utilizadas para reducir los ingresos sobre el cual se calculan los impuestos que debe pagar una persona o una empresa. Algunos refugios fiscales, como las cuentas IRA y 401(k) son perfectamente legítimos y el gobierno alienta su adopción. También son bastante comunes algunas estructuras de cooperación en sectores como la minería. Estos refugios fiscales tienen otro propósito aparte de solo reducir los impuestos. Cuando se … [Read more...]
Deal: Payroll Tax Cut to Continue for 2012
The contentious extension for the payroll tax cut seems to be headed for passage. How will it affect small businesses? The contentious payroll-tax-cut extension appears to be headed for passage after legislators reached a compromise in Conference Committee negotiations. It appears that Congress can indeed work together and reach consensus. In Conference Committee, leaders from the House of Representatives and the Senate negotiate differences in the versions of a proposed law passed in each … [Read more...]
The Grinch That Ruined The Payroll-Tax Holiday
It looks like politicians have forgotten to add a little Christmas cheer to their end-of-year work schedule. The Grinch That Ruined The Payroll-Tax Holiday. December 24, 2011It looks like politicians on both sides of the aisle have forgotten to add a little Christmas cheer to their end-of-year work schedule. Business owners and employees have anxiously awaited legislative confirmation that the current payroll-tax holiday would extend into next year. Both Democrats and Republicans agree … [Read more...]
Don’t Let Uncle Sam Spoil Your Gift Giving This Holiday Season
Are holiday gifts for your employees and clients deductible? Before you start spending this holiday season, read up on these IRS rules. As we enter the Christmas season, many business owners want to display their gratitude to customers and employees by showering them with generous gifts. During this tough economic environment, making the extra effort to display appreciation will be duly noted. Yet many business owners fail to realize that the IRS takes a different view of gift giving. They tend … [Read more...]
Does The Occupy Wall Street Movement Have A Point?
The Occupy Wall Street Movement: Who is the 1 percent, and should they pay far more in taxes because of their successes? The Occupy Wall Street movement appears to be losing its steam due to evictions and bad weather, but their rallying cry of the 99 percent appears to have struck a nerve—at least with the media and some politicians—and will likely be a key theme of the 2012 election season. The central issue that these people are raising is fundamentally one of perceived fairness. In their … [Read more...]
IRS Beefs Up Its Criminal Investigations
12% of the population thinks it's ok to cheat on taxes. The IRS is hoping to change that by putting more focus on fraud. On a regular basis, the IRS conducts its "Taxpayer Attitudinal Survey" which measures what the overall population thinks about different aspects of taxation. The question that is most interesting—and most controversial —is, "Do you think that it is ok to cheat on your tax returns?" According to the results of the survey, 12 percent of the population thinks it is in fact ok. … [Read more...]
The Most Business-Friendly States In The Country
Relocating your business is a headache no matter where you're going. Here are the most business-friendly states in the country. Relocating your business—whether across town or across the country—is a grueling, complicated and expensive process. I’ve gone through this several times, relocating from D.C. to Buenos Aires to New York and to New Jersey, with more waiting around the corner. There are a number of steps you can take to be as productive as possible during a relocation process. But those … [Read more...]
Will Your Business Benefit From A Tax Holiday?
A tax holiday is a temporary reduction or elimination of a tax to achieve a short-term benefit. Is it good for business? A tax holiday is a temporary reduction or elimination of a given tax. Usually it is enacted in order to achieve a short-term benefit. The American Jobs Act proposed by President Obama could be considered a tax holiday because it eliminates certain taxes (payroll taxes) for a limited amount of time in the hopes that it will spur employers to hire more workers. The benefits of … [Read more...]
How To Start Planning For The Section 3091 Provision
Do you know how Section 3091 of the Housing and Economic Recovery Act of 2008 will affect you? Over the past three years, there have been numerous proposed laws enacted that have a material impact on how you run your business. Because there has been so much legislation, it’s easy to lose track of what’s changing, what stays the same and what you need to do. The Housing and Economic Recovery Act of 2008 had far reaching implications for the country. One provision which I mentioned last year is … [Read more...]
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