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November 9th, 2011


IRS Allows Bonus Deduction even if who finally gets the bonuses is not known when the deduction is declared. An IRS ruling allows an employer using an accrual method of accounting to take a deduction in the current year for a fixed amount of bonuses payable to a group of employees, even though the employer […]

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June 23rd, 2011

IRS Announcement

The IRS has announced that effective July 1, 2011, the business standard mileage rate will increase from .51 cents to .55.5 cents per mile. (announcement 2011-40).

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February 2nd, 2011

General Tax Legislation

On Thursday, December 16, 2010, the President signed into law the most recent tax legislation “The Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010. The following summarizes what we believe to be the most significant provisions of the plan. Ordinary Income Tax Rates – Those rates which have been in effect since […]

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