Congress recently passed legislation that extends and expands the Work Opportunity Credit (WOTC) for hiring unemployed veterans. This effectively gave a one-year lease on life to the WOTC, but only with respect to qualified veterans who begin work for the employer beforeJanuary 1, 2013. For all other classifications, the credit ended at the close of 2011. Under the new law, … [Read more...] about New Credits for Hiring Veterans
Lake Zurich CPA
Maximize Your Charitable Deductions
As the end of the year approaches, there are still things you can do to increase and properly document your charitable contributions for 2011. Here is a brief rundown: Non-cash contributions– If you have used clothing or household goods that are in good or better condition that you don’t use any longer, contribute them to a charity thrift shop before the end of the year. … [Read more...] about Maximize Your Charitable Deductions
Year-End Tax-Planning Moves for Businesses & Business Owners
We have compiled a checklist of actions based on current tax rules that may help you save tax dollars if you act before year-end. Regardless of what Congress does late this year or early next, solid tax savings can be realized by taking advantage of tax breaks that are on the books for 2011. For individuals, these include: the option to deduct state and local sales and use … [Read more...] about Year-End Tax-Planning Moves for Businesses & Business Owners