Archive for February, 2012
by Jim Wagoner, CPA | Partner, Director of Tax Services Group and Team Leader of the Professional Services Group
As we all start a new year, many of my clients share with me their goals and action steps they will implement in order to make their organization a more profitable company; a more efficient, leaner company; or an employer of choice, for example. This affords me the opportunity to advise them on how their leadership plays an essential role in the success of achieving their goals.
by Felicia Rupp and Marie Jett, CPA | Team Members of the Tax Services Group
On February 17, Congress passed H.R. 3630, the “Middle Class Tax Relief and Job Creation Act of 2012” (the Act) and sent it to the President for his signature and he is expected to sign the bill promptly.
by Jim Wagoner, CPA | Partner, Director of Tax Services Group
On Monday, February 13, the President unveiled his budget for fiscal year 2013, which included many tax proposals. While it would be unusual for all presidential recommendations to become law, many of the proposed changes have a good chance of being enacted. We want to highlight several of the proposals so that you are aware of them, and can take them into consideration in connection with 2012 tax planning. Most of these changes would become effective in 2013 unless otherwise noted.
by Anita Dudley | Manager, Tax Services Group
The American Payroll Association (APA) has issued a press release that describes five basic tips on how to avoid IRS penalties when paying independent contractors.
by Larry K. Greenwalt, CPA | Chairman of the Board
There was a large amount of interest regarding our last article “The ‘Tax the Rich Rhetoric’ Needs to Focus on the Realities of the Situation”, and we received a few questions which I wanted to address. One question related to the impact of those taxpayers in the $40-$100,000 income range.
by Larry K. Greenwalt, CPA | Chairman of the Board
It seems to be fashionable in Washington to say that the wealthy are not paying their fair share of income taxes. What is fair? Let’s take a look at that. In an interview with NPR, Mr. Roberton Williams, Senior Fellow, Tax Policy Center, noted that in 2009, 47% of Americans did not pay any Federal income tax, up from 38% in 2007. The makeup of this group was primarily families with children, the elderly, low income households, and those who have too little income on which to pay taxes after deductions, credits and exemptions from income tax. This increase in the percentage not paying tax was largely the result of the stimulus bills that were put in place to try to get the economy going again.