Businesses need to take note that some key provisions of the Small Business Jobs Act of 2010 (the Act) will expire by the end of the month. The Act expanded two income tax expensing provisions as an incentive to encourage businesses to purchase certain types of property. In order to take full advantage of these [...]
The IRS has provided a one-year grace period to allow employers additional time to report the cost of employer-sponsored health insurance on each employee’s Form W-2. Under the Patient Protection and Affordable Care Act of 2010 (The Act), this reporting requirement was scheduled to take effect for the 2011 tax year. The relief applies to Forms [...]
Every year, the IRS issues new limits that will apply to retirement plan contributions for the following year. On October 28th, the IRS announced the cost of living adjustments for 2011. Continuing a trend from 2009, there are virtually no changes. Below is a brief list of the 2011 limits, noting whether or not there [...]
