Last week President Obama unveiled The American Jobs Act, a multi-faceted plan to boost the nation’s employment. Here are the tax provisions included in the proposal: Employer Payroll Tax Cut For 2012, the American Jobs Act would cut the employer Social Security tax rate from 6.2% to 3.1% on wages up to $5 million. Additionally,…
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At Dent, Baker & Company, LLP, we are committed to being your most trusted advisor. Our tax professionals are dedicated to providing comprehensive methods for determining tax-saving strategies, helping you accomplish your financial goals and preserve your family’s wealth. To that end, enclosed please find our 2011/2012 Year-End/Year-Round Tax Planning Guide. As you read through…
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According to The Birmingham News, the judge presiding over the 2009 Jefferson County Occupational Tax refunds has granted an extension for employers to report the employment data required by the Special Administrator to compute employee refunds. The extended deadline is September 15th. For additional information on the employer reporting requirements, please refer to our previous…
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As the debate continues over raising the federal debt limit, lawmakers have also turned their attention to how individual and business income taxes can be overhauled to reduce the federal deficit. As usual, these discussions will center on who pays and how much. Currently, individuals pay tax across six rate brackets ranging from 10% to…
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Plain and simple, businesses fail when they run out of cash. Depending on their attractiveness to lenders and the equity markets, some businesses may exist for many years without generating the first dollar of cash. But at some point, every business has to generate cash to survive, and this basic tenet of business holds true…
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The IRS has announced an increase in the optional standard mileage rates for the final six months of 2011 [IR-2011-69, 6-23-11; www.irs.gov/newsroom/article/0,,id=240903,00.html]. Citing “recent gasoline price increases,” the IRS has increased the standard business mileage rate from 51 cents to 55.5 cents a mile for all business miles driven from July 1 through December 31,…
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Last week, our business clients located in Jefferson County began receiving correspondence from the Refund and Settlement Administrator presiding over the escrowed occupational and business license tax covering the period January 12, 2009 through August 13, 2009. These taxes will soon be available for refund to affected employees and businesses, but only if certain administrative…
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At least 30 percent of employers are likely to stop offering health insurance once provisions of the U.S. health care reform law kick in in 2014, according to a study by consultant McKinsey.

When evaluating new markets for potential business expansion, there are countless considerations – judging market demand, selecting the right site, evaluating the local workforce, determining the ownership structure, etc. Each new expansion opportunity essentially is its own startup. One area that is easy to overlook is compliance. With the downturn in the economy, taxing authorities…
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