October 20, 2012
The Department of Labor announced today that employers in several states including Kentucky, Florida, North Carolina will pay an additional $42 per employee in FUTA tax in 2013. Indiana employers have it even worse and will pay $63 per employee in additional tax.
This “extra” tax is imposed on each employee to help the federal government recoup on unpaid loans from the corresponding state unemployment funds. (This is almost certainly a quieter way for the state government to raise taxes further on the employers in our states).
This tax season is an important one for many business owners because it’s the first that will be impacted by the Tax Cuts and Jobs Act (TCJA). How big of an impact is dependent on your unique situation. We’ve compiled this short list of provisions that may affect the business community:
According to Forbes.com, Super Bowl viewers traditionally load up on millions of pounds of less-than-healthy foods during the big game—including ribs, pulled pork, tortilla chips, nuts, popcorn and bacon—all washed down with beer (the Super Bowl beverage of choice). If you are trying to stick to your New Year’s resolution to eat better, consider a few healthy substitutes for the traditional Super Bowl eats:
The combination of running a business and your life and preparing for tax time can drive some people into a slight panic. But no need to get stressed if you are prepared. Now is the time to start organizing all documents required to file your tax return.