Voices Affiliate Cheryl Edington Shares Newsletter with Tax Info
Last Updated on Tuesday, 3 January 2012 01:37 Written by spence Tuesday, 3 January 2012 01:37
Check out the Baer & Edington newsletter, provided by Voices Affiliate Cheryl Edington. Among other things, it includes an article on year-end tax planning strategies and a list of 20 expiring tax breaks.
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If you operate a business or farm and you pay certain amounts to someone for services, rents or interest, you must file a form 1099 with the IRS. If you fail to report any of these payments, you may be subject to a fine of up to $100 per 1099 form. Forms 1099 must be mailed to the recipient by January 31, 2012 for tax year 2011. Click here for a brief summary of the rules for 1099s.
Typically people rely on a standard set of year-end tax planning techniques. These will vary dependent upon any changes in your income (year over year). You would need to consider your status before applying one of the following techniques.
Many favorable tax provisions are set to expire at the end of 2011. Although Congress passed a two-month extension of the payroll tax cut on December 23, lawmakers have allowed many other favorable provisions to expire on New Year’s Eve. However, as we have learned, Congress could pass laws to bring some of these tax breaks back. This article contains a chart of some of the important expiring provisions and what might happen.
After weeks of political drama, Congress passed a last-minute extension of the payroll tax cut that was scheduled to end on December 31. President Obama promptly signed the legislation. However, the extension will only last two months so lawmakers will have to revisit the issue again in 2012. The new law also provides two more months of federal unemployment benefits.
What does a legal battle between two dolls have to do with your company? Lawsuits filed by the makers of the Barbie and Bratz dolls involved intellectual property rights. Mattel Inc. claimed it owns Bratz dolls because an ex-employee conceived them while working at its company as a designer. The litigation highlights an important question: Who owns an employee’s creative output? The employee or the employer? Here’s a quick look at the feud and what it could mean at your firm.
XBRL is its name and companies, government agencies and accountants are pushing it as the way to save time and money, boost reliability and transparency and quickly and accurately compile, analyze and share data. Click “Full Article” to see how this computer language is changing the face of business and finance and how it can benefit your enterprise.2842 Sappington Drive Jackson, MO 63755
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