By Asc Corporation February 10, 2011
Thanks for the connection! If you ever need assistance with Custom Website Design, Hosting, E-Commerce or Search Engine Optimization, Give us a call anytime at 866-355-0600! Or check us out online at AmbitiousWeb.com & Twitter.com/AmbitiousWeb! ...read more
By Chris August 16, 2007
I was very impressed with the professionalism of this small firm. Highly Recommended! ...read more
Self-employed individuals. The Small Business Jobs Act of 2010 allows the deduction for income tax purposes for the cost of health insurance in calculating net earnings from self-employment for purposes of self-employment taxes. The provision only applies to the self-employed taxpayer's first tax year beginning after December 31, 2009 ...read more
By 1040 ACCOUNTING February 06, 2011
Social Security wage base remains unchanged for 2011 The maximum amount of earnings subject to Social Security will be unchanged in 2011. The wage base, above which wages are not subject to Social Security taxes, will be $106,800. Wage base The major source of funding Social Security is payroll taxes on earnings that are paid by employees and their employers. The self-employed are charged the equivalent of the combined employer and employee tax rates. During 2009, an estimated 156 million people had earnings covered by Social Security and paid payroll taxes. ...read more
By 1040 ACCOUNTING November 22, 2010
Small employer health insurance credit. In September, the IRS posted a draft version of Form 8941, Credit for Small Employer Health Insurance Premiums, on its web site for small employers to use to calculate the new Code Sec. 45R tax credit. The Patient Protection and Affordable Care Act created the credit to help small employers offset the costs of providing health insurance to employees. For-profit small employers will use Form 8941 to calculate the credit and include the amount of the credit as part of the general business credit on their federal income tax returns. Nonprofit small employers will claim the Code Sec. 45R credit on Form 990-T ...read more
By 1040 ACCOUNTING November 11, 2010
Many people give money to family members as a gift in their time of need or if they come into a substantial amount of money. Giving money to a family member can sometimes be taxed; however, there are ways to avoid this this and give money to family members free of tax. ...read more
Many people have opted to learn to file their taxes themselves. This is a great way to save money, and it puts people in control of their own tax return. The process can be confusing, but there are enough resources to learn the correct method. ...read more