about 4 months ago - No comments
Criser Gough & Parrish Presents a Complimentary EXECUTIVE BRIEFING HR Mistakes That Can Cost You Money Did You Know That . . . Fines for mistakes on Employment Verification Form I-9s start at $100 per mistake per form? It is illegal to have medical information in personnel files? Incorrectly classifying someone as exempt who should [...]
about 4 months ago - No comments
by Julie Powers Are you a sole proprietor, farmer, landlord, partner or shareholder? If so, take note, because included on the 2011 Schedules, C, E and F and Forms 1065, 1120 and 1120-S are two new questions regarding 1099 compliance that must be answered. The first question is “Did you make any payments in 2011 [...]
about 5 months ago - No comments
IR-2011-116, Dec. 9, 2011 http://1.usa.gov/ttw0ow The Internal Revenue Service today issued the 2012 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2012, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) [...]
about 5 months ago - No comments
Did You Know That . . . • Fines for mistakes on Employment Verification Form I-9s start at $100 per mistake per form? • It is illegal to have medical information in personnel files? • Incorrectly classifying someone as exempt who should be non-exempt can make you subject to fines, overtime pay and back wages? • Sexual harassment lawsuits [...]
about 7 months ago - No comments
IR-2011-95, Sept. 21, 2011 WASHINGTON – The Internal Revenue Service launched a new program that will enable many employers to resolve past worker classification issues and achieve certainty under the tax law at a low cost by voluntarily reclassifying their workers. This new program will allow employers the opportunity to get into compliance by making [...]
about 11 months ago - No comments
IR-2011-69, June 23, 2011 WASHINGTON — The Internal Revenue Service today announced an increase in the optional standard mileage rates for the final six months of 2011. Taxpayers may use the optional standard rates to calculate the deductible costs of operating an automobile for business and other purposes. The rate will increase to 55.5 cents [...]
about 1 year ago - No comments
IRS Tax Tip, March 21, 2011 http://1.usa.gov/dLjkrk If you have a farming business, there are several tax issues to consider before filing your federal tax return. The IRS has compiled a list of 10 things that farmers may want to know. Crop Insurance Proceeds —You must include in income any crop insurance proceeds you receive [...]
about 1 year ago - No comments
IRS Tax Tip 2011-51, March 14, 2011, http://1.usa.gov/fiCYe7 Here is some information from the IRS about a special tax deduction for the self-employed. You may be able to deduct premiums paid for medical and dental insurance and qualified long-term care insurance for you, your spouse, and your dependents if you are one of the following: [...]
about 1 year ago - No comments
After much speculation and anticipation, Congress finally passed the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (the Act). The President signed it into law on December 17. The Act, in essence, is an extension of the 2001/2003 Bush-era tax cuts for two years. Also, the Act provides a payroll tax holiday [...]
about 1 year ago - No comments
by Barbara Weltman If, like most small business owners, you use your personal car for business, be sure to follow tax rules so you’ll get the biggest write-off you’re entitled to. There are two ways in which to figure the deduction of your business driving costs: track the actual expenses for use of your car [...]
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