Jason Harrel
The Hiring Incentives to Restore Employment (HIRE) Act passed back in March 2010 contained a benefit to provide some employers a payroll tax holiday.
‘Thumbnail’ look at Patient Protection & Affordable Care Act
Written by Jason HarrelAs of the drafting of this article, the House of Representatives has just passed the Senate version of the health care reform bill, which will be known as the Patient Protection and Affordable Care Act (Patient Protection Act). President Obama signed the bill into law Tuesday, March 23. This column will take a brief thumbnail look at some of the tax and business provisions expected to come from this legislation. However, as this article is being written, Congress is considering changes to the Patient Protection Act through the Health Care and Education Reconciliation Bill of 2010, which, if enacted, could change some of the provisions discussed herein.
State Board of Equalization targets ‘qualified purchasers’
Written by Jason HarrelLast month, my office received a letter from the California State Board
of Equalization. This letter from the SBE was to remind my company of
its possible use tax obligation.
Year-end tax planning and legislative updates
Written by Jason HarrelAnother tax year is about to come to an end. Are you ready? Are your financial affairs in order? Have you done your year end tax planning or given it any thought?
Audit issues: Meals, entertainment, transportation, etc.
Written by Jason HarrelIn this economy a business needs each and every tax deduction available to it.
With our government running out of money, you can bet the audits will
be more aggressive and more by the book to increase revenues.
Poking holes in Swiss banking secrecy laws
Written by Jason HarrelBy now, you likely have heard that the United States government and Swiss Federation have entered into an agreement to ascertain the identities of U.S. citizens that have bank accounts with UBS AG.
Internal Revenue Service’s 2009 Dirty Dozen Tax Scams
Written by Jason HarrelRecently, the IRS issued its Dirty Dozen Tax Scams. The IRS issues this list each year. In times of economic trouble, scamsters often prey on the vulnerable. It does not make sense to engage in a tax scam to save money now when you consider the magnitude of the tax, interest, and penalties when you are caught, and the possibility that you could be prosecuted for fraud and have your liberty taken away.
In May, the Department of the Treasury released the "General Explanations of the Administration’s Fiscal Year 2010 Revenue Proposals." This report lays out the anticipated recommendations for both tax cuts and tax increases for Fiscal Year 2010.
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