By now most people know the debt ceiling crisis has, at least for the time being, has been handled sufficiently to avoid any worsening of the economy. The generally negative tone we hear on the daily news as terms like recession, depression, default, and credit rating downgrades can make people pessimistic about the future. All of this is understandable but we wonder …
If you don’t know where you are going, you might end up somewhere else  â€â€Yogi Berra There may not be another quote that more eloquently brings to mind the importance of planning or budgeting in business. Frequently in our work with closely held companies we encounter newly hatched entities with little or no thought to how much money they expect …
August 5th and 6th, 2011 Louisiana has a sales tax holiday on qualified purchases. The first $2,500 of items is exempt from the Louisiana postion (4%) of sales tax. Make those back to school purchases now instead of next week to save some $$. Sales Tax Flyers http://revenue.louisiana.gov/forms/lawspolicies/SalesTaxHolidayPoster(2011)V1.pdf
We have good news and bad news about taxes for 2011. The bad news is you still have to pay tax on your income, but the good news is the tax rates will remain basically the same as 2010. There was a chance of higher rates due to the expiration of the package of tax cuts from 2001. Those cuts …
Last March’s “Patient Protection and Affordable Care Act” included dozens of tax provisions designed to help pay for substantive healthcare reform. But one requirement raised howls of protest almost immediately. Specifically, the law mandated that all businesses, tax-exempt organizations, and federal, state, and local governments file a Form 1099 at the end of the year for any business they spend …
For those expecting to receive tax refunds this year, IRS provides the attached table showing when you can expect to receive your money. As usual, e-filing combined with directly depositing the refund in your bank account is the fastest option. Current processing times for paper returns can be as long as 8-12 weeks plus mail transit time. 2011 refund cycle chart
Who wants to make an extra $20!? American workers may notice a small increase in take home pay starting in January 2011. Ã‚ The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 was signed into law December 17, 2010. In addition to some extensions of tax breaks from the 2001 legislation by the Bush administration, there is a payroll tax “holiday” included that …
How much is the tax bill that goes before the Senate today worth to you? Current estimates are the Middle Class Tax Cut of of 2010, in its current form, will cost the US Treasury about $858 billion. Based on my quick estimate, if you are one of the 143 million people expected to file tax returns next year it works out …
On Monday December 6th, 2010 the news was abuzz with talk of the agreement reached between Republican legislators and President Obama regarding tax relief. The Middle Class Tax Cut Act of 2010 was attacked by some Democrats as being too generous a compromise to the perceived Republican interest in preserving tax cuts for the wealthy. Just when we thought there was going to be some …
Small Business Jobs Act summary and notes our firm is using to develop tax saving strategies.
