Do you wish there was a simple way to claim a Home Office Tax Credit? How many of you have a home office and do not claim any deductions on your taxes for its costs because one or more of the following reasons? The forms and instructions are too complicated It requires too much time [...]
The unemployment rate is still climbing across the nation. For example: Michigan’s rate reached 11.6 percent in January, the highest in the country. Second-highest was South Carolina at 10.4 percent. Rhode Island was next at 10.3 percent, which marked an all-time high for the state. California rounded out the top four, when the Employment Development [...]
COLUMBUS, Ohio-In a public announcement (released February 18, 2009) Ohio’s Attorney General, Richard Cordray, announced a collaboration of state agencies to combat the misclassification of workers. His statement said, “Employee misclassification is part of an ‘underground economy’ in which an employer improperly classifies individuals as independent contractors or pays them off the books’ to avoid [...]
The Internal Revenue Service announced that interest rates for the calendar quarter beginning April 1, 2009, will drop by one percentage point. This adjustment is a reflection of the economy and the prime rate. I guess there is always a silver lining…but it’s still no bargain. If you overpay your taxes the new interest rates [...]
Although this may not directly relate to running a business or to IC Compliance, it is a change that may affect some of your staff. The Internal Revenue Service announced this week that taxpayers who qualify for the first-time homebuyer credit and purchase a home before December 1 2009, have a special option available for [...]
Since June of last year, I’ve been reporting to you that the Department of Homeland Security (DHS) and the Social Security Administration (SSA) had joined forces to require private companies doing business with the federal government to ensure their employees are working here legally by requiring they use the U.S. government’s E Verify Program. This [...]
The American Recovery and Reinvestment Act of 2009 includes changes to the health benefit provisions of the Consolidated Omnibus Budget Reconciliation Act of 1985, commonly referred to as COBRA. The new law provides the right to temporary continuation of COBRA health coverage at group rates for certain former employees, retirees, spouses, former spouses and dependent [...]
This is another tax relief aspect created by the American Recovery and Reinvestment Act of 2009. It does not directly relate to IC compliance or other labor law areas, but it’s worth knowing about. However, this deduction applies if you’re an employee or an independent contractor. It doesn’t matter if you use the vehicle for [...]
As the details become available I will keep you up to date on tax, employee, IC compliance and other labor law developments affected and created by the American Recovery and Reinvestment Act of 2009. Tax Credit for the working class. For 2009 and 2010, the “Making Work Pay” provision of the American Recovery and Reinvestment [...]
The American Recovery and Reinvestment Act of 2009 (also known as HR 1) is almost 1100 pages long and filled with provisions that spend money for almost any topic you can imagine. This is the second in a series of articles to explore how this law affects you and your business. Good News! The three [...]
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