Week of January 23, 2012 Is your business eligible for the health insurance premium credit?
Remember the postcard you got from the IRS last year introducing the health insurance premium credit for small businesses? To paraphrase the old song, there's no letter in the mail for you this year.
Your business can still get the credit, though. When you qualify, you can use it to offset your federal income tax liability by up to 35% of the cost of health insurance premiums you pay for employees...
January 2012 Answer four questions before refinancing a mortgage
"Interest rates hit historic lows!" "Refinance Now!" "No-cost refinancing!" These advertisements urge consumers to capitalize on mortgage interest rates that have declined significantly over the past two decades. In December 1991, the average rate on a 30-year mortgage was about 8.25%; now it's about 4%. That said, mortgage refinancing doesn't make sense for everyone. Before you rush to your bank or online lender, be sure to answer these four questions...
For more information about Health Care Reform as it will affect you as a Small Business, Individual, or High Income Tax Payer, please see the appropriate tabs to the right.
Small Business
Small Business
For owners of small businesses and their workers, the recently enacted health reform legislation has some key provisions to pay attention to. The major ones include: tax credits; excise taxes; and penalties. But whether a business will be affected by them depends on a variety of factors, such as the number of employees the business has. Here is an overview of the provisions in the new law with the biggest impact on small business.
Unfortunately, high-income taxpayers will be hit with two big tax hikes under the recently enacted health overhaul legislation: a tax increase on wages and a new levy on investments.
The perfect fit is our promise at HR&R. We’re organized to serve as comprehensive advisors to individuals and businesses of all sizes. We begin with the pieces of the puzzle you have at your disposal and add the pieces we have, creating a complete picture of where you’re looking to go tomorrow.
NEW FOR 2011
Pennsylvania is requiring you to report the amount of Use Tax you have not paid in 2011 with your Pennsylvania Individual Income Tax Return. If you have records of purchases where you are subject to Use Tax, please send that information in with your tax information. If you are confident you did not have any purchases in 2011 subject to Use Tax, please let us know that.
If you are not aware of the amount, Pennsylvania offers a table to use based on your taxable income. This table is for purchases of less than $1,000 only. The amounts on the table run from $6 to $94 depending on your income and which County you live in. Examples of items subject to Use tax are... READ MORE
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Horovitz, Rudoy & Roteman In the News!
At HR&R, our experts are proud to offer their expertise and opinions on a variety of matters to the local, regional and national media. We've compiled some of our more recent media for our home page visitors to take a look at and enjoy below.
If you have any questions about the topics covered below or if you want one of our experts to speak to you, please don't hesitate to give us a call or drop us an email. We look forward to hearing from you.
January 2012 Keys to getting a small business loan
Before a start-up company can begin producing revenue, it often needs an infusion of cash that exceeds owner contributions. Even long-established firms sometimes must borrow to purchase inventory, buy real estate, expand operations, meet payroll, or keep the lights on. When business owners turn to banks and other financial institutions for help, some are offered loans; others walk away empty handed...
Americans live in a youth-oriented culture. Television programs, magazines, and other media present a seemingly endless parade of smart, fit, beautiful, young people. Youth sells. So it's no wonder that consumers spend billions of dollars on anti-aging products. Wrinkle creams, skin peels, cosmetic surgeries, vitamin supplements, and a wide variety of cosmetics claim to restore sagging skin, remove discoloration, and otherwise reverse the advancing tide of age.
While the desire to look one's best and fight the aging process is certainly reasonable, con artists are attuned to that natural desire and quick to take advantage. So beware. Before spending your hard-earned cash on the latest "treatment," cast a skeptical eye on the following...
