New Tax Benefits for Employers Who Hire and Retain Unemployed Workers

FEDERAL TAX BENEFITS Under the federal Hiring Incentives to Restore Employment (HIRE) Act, two new tax benefits are available to employers who hire workers who were previously unemployed ("qualified employees").

Health Care Reform: Tax Issues for Businesses

The health care reform legislation that was recently enacted includes new taxes, but there are also some tax breaks available to help small businesses pay for health insurance.  Two of the changes getting a lot of attention: a tax credit available to small businesses that offer health care coverage to employees, and a tax to penalize employers who do not offer coverage.

Health Care Reform: Tax Changes for Individuals

The health-care reform legislation that was recently signed into law contains a number of tax changes. Some of these changes take effect immediately; others won’t have an impact for a few years. Here’s a year-by-year breakdown of some of the changes worth taking note of.

Summary of New Health Care Reform Law

Recently, two pieces of legislation, the Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act of 2010 were signed into law. Together, these pieces of legislation make the most significant reform to health care in the United States since the enactment of Medicare.

Do I Need a Federal Tax Identification Number?

This is a familiar question a client or potential client will ask us.  Some of the more common situations in need of a tax identification number are:

  • Starting a business that will have employees
  • Having a corporation
  • Having a qualified retirement plan with $100,000 or more of plan assets
  • Opening an estate
  • Having a trust that is required to file a tax return