Effective January 1, 2012, the Colorado minimum wage rate has increased to $7.64 per hour and $4.62 per hour for employees who regularly receive tips.
The FUTA tax rate (before the state credit of 5.4%) was 6.2% from January 1 through June 30, 2011 and decreased to 6.0% July 1 through December 31, 2011. The IRS has already released a corrected Form 940 to reflect the breakdown for the first half of the year to the second half of the […]
The Temporary Payroll Tax Cut Continuation Act of 2011 temporarily extends the two percentage point payroll tax cut for employees, continuing the reduction of their Social Security tax withholding rate from 6.2 percent to 4.2 percent of wages paid through February 29, 2012. This reduced Social Security withholding will have no effect on the employees’ […]
Congress recently passed the 2010 Small Business Jobs Act which includes a wide-ranging assortment of tax breaks and incentives for small business. We are writing to give you an overview of some of the provisions of this new law. Please call our office if you would like more details on how the new changes may […]
We would like to advise you of a significant change to payroll tax deposit requirements that may affect the method you use to deposit your payroll tax deposits. Read more about changes to payroll tax deposit requirements…>
Although this year is only half over, we’ve already seen legislation with major tax changes, and more are most certainly on the way. Despite confusion created by the never-ending changes, the 2010 federal income tax environment is still quite favorable. We may not be able to say that for 2011 and beyond, so tax planning […]
We are writing to give you a brief overview of the key tax changes affecting individuals in the recently enacted health reform legislation. Please contact our office if you would like details on how the new changes may affect your specific situation. Read more about key tax changes affecting individuals…>
For owners of small businesses and their employees, the recently enacted health reform legislation has some key provisions. Whether a business will be affected by them depends on a variety of factors, such as the number of employees. We are writing to give you an overview of some of the provisions that will impact small […]