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FUTA Tax Rate Change Effective July 1, 2011

by Matthew Bergman, CPA The effective tax rate for the Federal Employment Taxes (“FUTA”) was reduced from .8% (.008) to .6% (.006) on July 1, 2011. Congress has announced that the FUTA .2% surcharge, first enacted in 1977, will not be extended after June 30, 2011. Employers have been required to pay a flat rate […]
July 5, 2011
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IRS Increases Mileage Rate to 55.5 Cents per Mile

by Larry Goldsmith, C.P.A., J.D., C.F.F.A. The Internal Revenue Service recently 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 […]
July 5, 2011
2 MIN READ
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AICPA’s Proposal for Pass-Through Entity Tax Deadlines: A Tier or Two Away From Practicality

By: Donald J. Schaffer, CPA/ABV, CVA In recent years taxpayers and their accountants have been pushed later and later in their tax filings due to the delinquent receipt of Forms K-1 from their investments in partnerships.  In may cases the forms are received only days before filing deadlines, resulting in delinquent returns or costly amendments. […]
February 12, 2010
4 MIN READ
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Extending the COBRA Premium Subsidy…

by Michael W. Blitstein, CPA  The American Recovery and Reinvestment Act of 2009 (ARRA) provided a temporary subsidy for the cost of COBRA continuation health coverage. On December 21, 2009, President Obama signed legislation extending the COBRA premium subsidy. The new law addresses the uncertainties employers were facing regarding the subsidy.  The following facts concerning […]
January 6, 2010
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