The conventional response to today’s lackluster economy is to focus on cutting business costs. That’s good advice up to a point, but eventually paring down becomes counter-productive. Once you’re done, you’re still stalled in the same economic doldrums. Rather than restricting your strategy to cost-cutting, play to your strengths. What product, service, or other customer […]
Read MoreConsumer Fraud Alert!
The IRS is warning people to be aware of fraud connected with Hurricane Sandy. As is usually the case following a natural disaster, scam artists are impersonating charities to get money or financial information from those wanting to help victims of the storm. The scammers contact people by phone, social media, e-mail, or in person. […]
Read MoreGet a head start on your 1099 reporting
January is always a busy month for companies. You’re trying to get business off to a good start in the new year while trying to close the books on last year, and on top of that there’s 1099 reporting to complete by month-end. There are several variations of the information returns known as Form 1099. […]
Read MoreTax relief for Sandy victims
Victims of Hurricane Sandy may be entitled to some tax relief, according to a recent announcement by the IRS. Certain tax filing and payment deadlines from late October on will be extended until February 1, 2013. This includes the final 2012 estimated tax payment (normally due January 15, 2013) and payroll and excise taxes (normally […]
Read MoreNew Tax & Credit Limits for 2013
2013 tax numbers recently published by the IRS and Social Security Administration: * SOCIAL SECURITY taxable wage limit increases from 2012 limit of $110,100 to $113,700 for 2013. Retirees under full retirement age can earn up to $15,120 without losing benefits. * 401(k) MAXIMUM salary deferral increases from 2012 limit of $17,000 to $17,500. The […]
Read MoreTax legislation gets us past the “fiscal cliff”…… for now
The American Taxpayer Relief Act of 2012 was approved by Congress just after we plunged over the “fiscal cliff”. Although it restores and modifies several expired tax breaks, it doesn’t address other issues. This latest tax law is not likely to be the final word on taxes in 2013, since Congress is once again talking […]
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