There are credits that are available for both businesses and individuals who operate or participate in a retirement plan. Small businesses can receive a credit of up to $500 a year for the first three years for starting a new pension plan, and individuals can receive up to a $2,000 credit each year for contributing to a pension plan.
The 2010 Small Business Jobs Act (SBJA) was recently enacted and includes a wide range of incentives and tax benefits for small businesses
With the end of the 2010 tax year rapidly approaching, there is only a limited amount of time for individuals to take advantage of certain tax savings techniques.
A small, but important, component of the health care reform bills passed earlier this year…..
As the end of 2010 quickly approaches, individual taxpayers should start to execute valuable year-end tax strategies.
As part of the 2010 health care reform law, people up to age 26 can now get covered by their parents’ health insurance policies.
The U.S. Treasury has adopted a new initiative to dramatically increase the number of electronic transactions for millions of citizens and businesses. It is expected to save more than $400 million and 12 million pounds of paper in the first five years alone.
The HIRE Act (Hiring Incentives to Restore Employment Act) has included several provisions to increase foreign compliance.
A 1099-MISC is an information return that is used to report miscellaneous income.
On February 1, 2010, the Treasury Department released General Explanations of the Administration’s Fiscal Year 2011 Revenue Proposals (“Green Book”), which provides a description of the Obama Administration’s budget proposals affecting revenues.