2016 Rates – 2017 Limits

TAX RELATED INFORMATION FOR CERTAIN 2016 ADJUSTMENTS AND 2017 TRANSACTIONS Form 1099-MISC and related backup withholding for 2016 & 2017: Federal 1099-MISC Information Forms must be completed by January 31, 2017 for certain payments of $600 or more made during 2016 … Continue reading →

2015 Rates – 2016 Rates

TAX RELATED INFORMATION FOR CERTAIN 2015 ADJUSTMENTS AND 2016 TRANSACTIONS Form 1099-MISC and related backup withholding for 2015 & 2016: Federal 1099-MISC Information Forms must be completed by February 1, 2016 for certain payments of $600 or more made during 2015 … Continue reading →

New Form I-9 now required

Effective May 8, 2013, all employers are now required to use a new updated version of Form I-9 that some may not know exists but that could prove costly if ignored. Form I-9 is used to prove the eligibility of new workers and to … Continue reading →

IRS requirements for competency testing and continuing education

On Friday, Jan. 18, 2013, the United States District Court for the District of Columbia enjoined the Internal Revenue Service from enforcing the regulatory requirements for registered tax return preparers. In accordance with this order, tax return preparers covered by this … Continue reading →

The minimum every small business owner should know about the new federal tax changes

In response to political panic over a self-imposed deadline that became know as the Fiscal Cliff, Congress passed more bad legislation on January 2, 2013 known as the American Taxpayer Relief Act of 2012 which was immediately signed into law by the … Continue reading →

Business Tax Rate Update for 2012 Tax Rates and 2013 Taxable Limits

Information regarding 2012 Tax Rates and  2013 Taxable Limits posted in summary form herein has been updated to reflect current legislation changes regarding reporting for payroll, Forms 1099-MISC, unclaimed or abandoned property, depreciation, and  retirement  requirements.  This updated information is detailed above on the … Continue reading →

Summary of American Taxpayer Relief Act

The provisions of the Act affecting most taxpayers include the following: Revised Income Tax rates. After 2012, the income tax rates for individuals will stay at 10%, 15%, 25%, 28%, 33% and 35% rather than reverting to 15%, 28%, 31%, 36% and 39.6% as previously scheduled … Continue reading →

Act 32 – – Earned Income Tax Changes

Reforms to Pennsylvania’s Earned Income Tax (EIT) collection system will affect every business taxpayer and takes effect January 1, 2012.  Act 32 streamlines   tax collection at the county level through the standardization of forms and definitions.  Employers will no longer have to remit … Continue reading →

Local wage tax changes for 2012….

This gallery contains 1 photos.

CHANGES ARE COMING for employer reporting of local earned income tax. Effective January 1, 2012 every employer in Pennsylvania will be required to withhold local earned income tax from all employees.  In order to prepare for the change, employers are encouraged to … Continue reading →

Employer requirement to offer coverage in the health reform legislation

The legislation requires large employers to offer and contribute to their workers’ health insurance or pay a penalty. Effective for months beginning after 2013, a large employer that does not offer coverage for all its full-time employees, offers minimum essential … Continue reading →