February 15, 2011
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Obama to Seek Reversal of Tax Break
February 14th, 2011 President Barack Obama said he would fight for his long-held pledge to reverse tax cuts for upper-income taxpayers after 2012, in a budget blueprint that doesn’t stray far from tax proposals he has made since before taking office. Mr. Obama struck a compromise with congressional Republicans in December that allowed all the […]
Read more- February 14, 2011
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Filing Season 2011 Finally Begins
February 14th, 2011 Mid-day today, February 14, IRS expects to be able to begin processing 2010 tax returns for those taxpayers who itemize their deductions, take advantage of education incentives, the Homebuyer Credit and many other less frequently used tax benefits. My firm generally preparers about 1000 tax returns each season; so far we’ve been […]
Read more- February 04, 2011
- Andrew Presti
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941 New HIRE Act
In order to accommodate the 2010 new HIRE Act, a check box, “Qualified for HIRE Act”, has been added to the employees’ Status Information screen (A-T-F Payroll>Input>highlight employee>Edit>Status Information). The “Date Hired” field must also be entered. If selected, checks dated between March 19, 2010 and December 31, 2010, will be handled appropriately on the […]
Read more- February 04, 2011
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Tip: What’s New on Form 1040
After months of uncertainty regarding possible tax cut extensions, we now know which breaks have been extended and which ones have hit the deck. Here’s how the major changes stack up. Health Insurance Premium Deductions for Self-Employed Taxpayers In the past, eligible self-employed taxpayers could deduct their health insurance premiums from their federal tax bill. […]
Read more- February 04, 2011
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Technology: Smartphones Usurp User Privacy
Recent media reports show that smartphone applications are regularly breaching the privacy of their users, sharing personal data widely without the knowledge or permission of their users. The mobile communications industry is relatively young. And when it comes to sharing user data with third parties, currently there are no standard industry practices and no consistent […]
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