2010 Mid-Year Tax Planning
Mid-year tax planning for 2010 may require an understanding of one of the most complicated tax years in recent memory.
The 2010 tax year represents a critical time to ascertain and identify any tax traps while maximizing opportunities for dramatic tax savings. Next year may truly be too late...
2010 Healthcare Reform Act
Two bills signed into law by President Obama at the end of March will change health care in the United States and have an impact on every medical practice, employer and citizen of our country. While many of the changes mandated by the Patient Protection and Affordable Care Act and the Health Care and Education Affordability Act of 2010 will not be implemented for a number of years, others will take effect immediately.
The two new laws together exceed 3,000 pages. The included information highlights some of the more important areas impacting employers, individuals and medical practices.
Hiring Incentives to Restore Employment (HIRE) Act
Payroll tax holiday and up-to-$1,000 credit for employers who hire unemployed workers. To help stimulate the hiring of workers by the private sector, the new law exempts any private-sector employer that hires a worker who had been unemployed for at least 60 days from having to pay the employer's 6.2% share of the Social Security payroll tax on that employee for the remainder of 2010. A company could save a maximum of $6,621 if it hired an unemployed worker and paid that worker at least $106,800, the maximum amount of wages subject to Social Security taxes, by the end of the year.
How to Avoid Workplace Violence Issues
With the economic climate still uncertain, companies are facing a rapidly changing work environment that is riddled with hostility and violence. The incidence of violence in the workplace has risen and the fear to terminate a violent or potentially violent employee could prove both physically and financially costly for an employer. Management that is unprepared for this scenario leaves itself vulnerable to a myriad of issues ranging from civil to criminal actions. Maybe the easiest way to pre-empt the situation is to have policies and procedures in place to screen candidates for employment and train current employees and management to avoid or spot violence in the workplace.
