March 04, 2011
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Gift Tax Exemption Raised to $5,000,000
The President has signed the compromise tax bill, imposing a levy of 35% on estates valued in excess of $5,000,000 for people dying in 2011 and 2012 – that’s right; the new law is effective for only two years. Starting in 2013 the estate tax reverts to 2002 levels and is imposed at a rate […]
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Hidden in Plain Sight
These days, everybody could use a little help saving money-whether it’s $500 on telephone bills or $5,000 on payroll. But every business owner approaches the issue of cost control a bit differently. Some bring in outside consultants to sift through their expenses and conduct reviews; others attempt to make the most of their own in-house […]
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Tip: Leverage All Your Tax Deductions and Credits
This is the time of year when you gather your business records, personal receipts and notes before discussing what you might owe Uncle Sam with your professional tax consultant. It seems as if the tax code gets lengthier and more complex every year, and this year is no different. It’s easy to overlook an eligible […]
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Technology: Turning Online Prospects into Clients
If visitors to your website far outnumber actual sales of goods and services, it might be time to take steps to improve conversion rates. E-commerce has changed all the rules when it comes to sales cycles and customers’ buying options and habits. Estimates suggest that more than 80 percent of online shoppers (goods and services) […]
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New Tax Rules Make 529 College Savings Plans More Attractive
Prior to December 17, 2010, Americans faced uncertainty about whether the Bush tax cuts would expire at the end of the year as scheduled. But the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 halted the speculation and brought some stability to taxpayers, financial planners and investors – at least, for now. […]
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Stock Market: Oil Worries Moderate; Bullish Rally Gets Mixed Reviews
Traders’ attention was diverted from the usual data and financials when political turmoil in Egypt captured the world’s attention in February. Just when the crisis in Egypt appeared to be ending, a surge of unrest in the Middle East from outposts like the tiny Gulf island kingdom of Bahrain and the much larger Libya sent […]
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How to Retain Your Best Employees
The best way to retain your most qualified and valuable employees is to ensure they never want to leave. While life circumstances might necessitate occasional employee relocations (or leaving for a higher salary), try to keep your top employees from ever leaving due to job dissatisfaction. Allow Creative Expression to Reign Most workers do not […]
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Medical Expenses – What Can You Deduct?
This is the time of year when many of us begin the frantic search for tax deductions. While most of the deductions allowed were set in stone on Dec. 31, 2010, there might still be some gems to uncover in your 2010 costs. One of them could be found in your medical expenses. Limitations As […]
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States Can Avert New Revenue Loss by Decoupling From Federal Expensing Provision
A recent change in federal tax law regarding business investment in machinery and equipment could be very costly for many states — at a time when they can least afford it. Nineteen states are on track to lose $5.3 billion in state corporate and individual income tax revenues during the current and next two state […]
Read more- March 03, 2011
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States’ revenue forecasts increasingly off-base
March 1st, 2011 Revenue forecasts made by America’s state governments are increasingly missing the mark, a trend that is aggravating political, fiscal and social pain as most of the 50 states grapple with budget shortfalls, according to two leading think tanks. The widening mistakes in revenue forecasts, which added up to $49 billion in fiscal […]
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