Tax Savings Opportunity for New Hiring
Mon, 02/08/2010 - 11:45 | by Mary Prukop
You may be able to save money on your federal taxes through the Work Opportunities Tax Credit (WOTC) program. The program is currently available for those employers who hire members of certain targeted groups before September 2011.
Businesses are allowed to claim a work opportunity tax credit equal to 40% of the first $6,000 of wages paid to employees of one of nine targeted groups.
New Law to Allow Taxpayers to Claim Haitian Donations
Thu, 02/04/2010 - 10:50 | by Tayla Flanders
A newly passed bill will allow taxpayers who make charitable contributions to Haiti relief programs before March 1, 2010, to claim those contributions on their 2009 income tax returns. Charitable contributions to qualified charities are generally deductible for individuals who itemize deductions on their tax returns. Charitable contributions are normally deductible in the year made or charged to a credit card.
The Senate, however, has unanimously passed legislation that allows taxpayers to deduct cash charitable contributions to aid victims of the devastating earthquake in Haiti. The bill was passed January 21, 2010, a day after the House of Representatives also unanimously approved the bill. The president is expected to sign the bill into law.
Could You be Exposing Your Employees to Identity Theft?
Tue, 02/02/2010 - 10:08 | by Sue Benedict
Today many companies use email or some form of electronic transmission to conduct business. It is not uncommon for accountants, attorneys and bankers to receive files electronically. Although many closely held business owners make the decision that their personal finances would not be important to the computer hacker, they need to realize that there may be more than just their personal information included in the transmission.
