Below is a card we sent out to some of our clients who may be impacted by new legislation. If you think you may be impacted, please discuss this issue with your accountant.
Congress has recently passed two laws that may reduce your taxes. The rules on these two bills are somewhat complicated, so rather than send you all of the detail, I am letting you know the basics. If you think that you might be impacted, contact our office and we will let you know if you qualify and what you need to do to keep more money in your pocket.
HIRE BILL - The primary focus of the HIRE program is to give companies incentive to hire. There are two main points focused on that. The first is a break from paying Social Security taxes for the remainder of 2010 on any new workers they hire, if they have been unemployed for at least 60 days. If you have any new hires after 2/03/10, you may qualify. Contact us.
HEALTH CARE BILL - I know that you may have received a card from the IRS on this. If you have less than 25 full-time equivalent employees and you pay for at least 50% of their health insurance, the government will reimburse you up to 35% of the premium. If you think you might qualify, contact us.
Larry Kopsa, CPA
