E-Updates

Tax Act Extends Employment Tax Holiday Through 2012

On February 22nd, 2012, by Mike Hawkins

On February 17, 2012, Congress passed The Middle Class Tax Relief and Job Creation Act of 2012, sending the Act to President Obama to be signed into law. Once signed, the Act will extend the employee-side payroll tax cut (from 6.2% to 4.2%) through the end of 2012. The Act will not change the tax..

Endow Kentucky Tax Credit

On December 20th, 2011, by Janie Evans

The State of Kentucky has allocated $500,000 in tax credits for each of the fiscal years ending June 30, 2012 and June 30, 2013 for a total of $1,000,000. These credits are for donations made to a qualified Kentucky Community Foundation and directed to a permanently endowed Kentucky fund. These credits will be taken against..

Your $18.04 check is real!

On December 16th, 2011, by Michelle Grant

Settlement checks for $18.04 have started to arrive! These are legitimate checks and this is not a scam. These checks are a result of the Currency Conversion Fee Antitrust Litigation settlement. If you traveled overseas between February 1, 1996 and November 8, 2006 and were a legal cardholder of a Visa, MasterCard or Diners Club..

Three Percent Withholding and Job Creation Act

On December 6th, 2011, by Brian Stautberg

President Obama Signs Act Eliminating Three Percent Withholding Requirement and Enhancing Incentives for Hiring Veterans On November 21, 2011, President Obama signed the Three Percent Withholding and Job Creation Act (Act) into law. The law repeals a requirement that 3 percent of payments be withheld by federal or state governments to any person for services..

InvestOhio Credit Brings Opportunity

On November 18th, 2011, by Brian Stautberg

New program provides significant tax credits for qualified business investments The state of Ohio announced this week that registration for the InvestOhio tax credit program will begin Monday, November 14 at 8 a.m. Only $100 million in credits will be awarded for the period of July 1, 2011 – June 30, 2013 and they will..

Time to Revisit General Business Credits

On January 15th, 2011, by Mike Hawkins

In the fall of 2010 Congress radically changed the way that general business credits can be applied for small businesses. General business credits include the research and development tax credit, the work opportunity credit, the low-income housing credit and many others. In recent years many companies and individuals that qualified for credits were unable to utilize them due to the..

Section 179 Expense Allowances Increased

On January 8th, 2011, by Brian Stautberg

Section 179 provides businesses the ability to expense certain purchases of personal property rather than depreciate them over a number of years. It’s not a new section of the tax code, but Congress gave it some teeth for the next few years. In an attempt to spur business investment and to make this provision available..

Tax Relief, Unemployment Insurance Reauthorization & Jobs Creation Act of 2010 Extends Bonus Depreciation

On November 8th, 2010, by Mike Hawkins

Bonus depreciation is a tool Congress has utilized off and on for the past 10 years as a way to spur short-term investment. The 2010 Tax Relief/Jobs Creation Act extended the bonus depreciation provision which had expired on January 1, 2011. This move provides taxpayers with the ability to take a 100% first-year depreciation deduction..