Federal Tax Watch Special Edition

Tax Tip

New Healthcare Taxes Taking Effect in 2013

In addition to the various provisions contained in the new act, a number of new tax laws took effect Jan. 1, 2013, as a result of 2010’s heathcare reform legislation. Hospital insurance tax on high-income individualsThe employee portion of the hospital insurance tax portion of FICA (which funds Social Security), normally 1.45 percent of covered […]

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Tax Tip

Fiscal Cliff Legislation: How tax changes in the new act may affect you

As the New Year’s ball worked its way down its 141-foot drop in the seconds leading up to midnight on Dec. 31, many people wondered if they were seeing the image of the United States dropping over the Fiscal Cliff. But after a hectic 48 hours that ended at about 11 p.m. on New Year’s

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Tax Tip

Provisions Primarily Affecting Businesses

Expired business provisions extendedSeveral popular business provisions that had already expired were reinstated retroactively and temporarily extended, including:R&D tax credit – The credit for increasing research and development activities, which expired at the end of 2011, is extended through 2013. A modification allows for partial inclusion of research expenses and gross receipts of an acquired

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