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Why The New Medicare Tax May Cost You More Money

Posted in Tax News on June 26, 2012

Current Medicare Tax Currently taxpayers pay 1.45% Medicare Tax on their earned income. This is from a W-2 for employees and net-income from self-employed individuals. The employee pays this amount and the employer matches it, therefore they remit 2.9% to…

Tagged with: 401(k), Affordable Care Act, annuities, Capital Gains, Dividends, Employee, Employer, Form W-2, Health Care Reform, Income Tax, income tax withholding, Interest, ira, Married Filing Jointly, Medicare Tax, Municipal Bonds, Passive Income, Pension, primary residence, Principal Residence, Profit Sharing Plan, Royalties, Self-Employed, Single, Sub S, Subchapter S, Subchapter S Corporation, tax-free bonds, Unearned Income Medicare Contribution Tax, Withholding

Connecticut Joins Pact on Employee Misclassification Initiative

Posted in Tax News on May 8, 2012

The misclassification of employees as independent contractors, presents a serious issue for affected employees, employers, and to the economy. Misclassified employees are often denied access to critical benefits and protections such as family and medical leave, overtime, minimum wage and…

Tagged with: Connecticut, Connecticut Employers, Contractor, Contractors, CT, CT Department of Labor, Department of Labor, DOL, economy, Employee, Employee Misclassification, Employer, Independent Contract, Internal Revenue Service, IRS, Medicare, Social Security, Subcontractor, Tax Gap, Workers Compensation

2012 Tax Benefits Increase Due to Inflation Adjustments

Posted in Tax News on February 22, 2012

Every year the IRS must adjust the dollar amounts of a variety of provisions which affect every taxpayer, to keep pace with inflation. New dollar amounts affecting 2012 returns, filed by most taxpayers in early 2013 include the following:

Tagged with: 401(k) Plan, 457(6) plan, Charitable Contribution, child tax credit, CPA, Dependents, Donations, Employee, estate tax, Exemption, Gift Tax, Income Tax, Inflation, Internal Revenue Service, IRS, Itemized Deductions, Mortgage Interest, Personal Exemption, Social Security, Social Security Administration, Standard Deduction, Taxpayer, thrift saving plan, wage base

Payroll Tax Cut Temporarily Extended into 2012

Posted in Tax News on January 11, 2012

Congress recently passed and the President signed the Temporary Payroll Tax Cut Continuation Act of 2011.This act temporarily extends the two percentage point payroll tax cut for employees by continuing the reduction of their Social Security tax withholding rate from…

Tagged with: Compensation, Congress, Employee, Employer, Income Tax, Income Taxes, Internal Revenue Service, IRS, Payroll Tax, Payroll Taxes, President, President Obama, Social Security Tax, Tax Withholding, Wages, Withholding

How to Claim the Connecticut Small Business New Employee Tax Credit

Posted in Tax News on January 4, 2012

Did you know that CT provides tax incentives to hire new employees in small businesses? The Qualified Small Business Job Creation Tax Credit Program provides incentives to Connecticut’s small businesses to hire new full-time employees. Under this program Connecticut-based businesses…

Tagged with: Connecticut, Connecticut Based Business, Connecticut Employer, Connecticut Income Tax, Corporation, Credit, CT, CT Department of Economic Development, DECD, Department of Economic and Community Development, Employee, Income Tax Credit, Job Creation Tax Credit, Limited Liablity Company, LLC, Member, New Employee, New Employee Tax Credit, Partnership, Small Business, tax credit, Tax Incentives

Branford, CT 203.208.0572
Manchester, CT 860.646.2465
Niantic, CT 860.739.5459
Storrs, CT 860.429.7885

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How to Claim the Connecticut Small Business New Employee Tax Credit

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Branford, CT 203.208.0572 Manchester, CT 860.646.2465 Niantic, CT 860.739.5459 Storrs, CT 860.429.7885

Blog Archives

Why The New Medicare Tax May Cost You More Money

Connecticut Joins Pact on Employee Misclassification Initiative

2012 Tax Benefits Increase Due to Inflation Adjustments

Payroll Tax Cut Temporarily Extended into 2012

How to Claim the Connecticut Small Business New Employee Tax Credit

Search

Links

Latest News

Categories

Get Free Tax Tips

Branford, CT 203.208.0572
Manchester, CT 860.646.2465
Niantic, CT 860.739.5459
Storrs, CT 860.429.7885