Monthly Archives: December 2012

The New "AMT"

With all of the uncertainty surrounding the “Fiscal Cliff”, there is one item that many business owners will certainly face with the new year–the Additional Medicare Tax. Implemented as part of the Patient Protection and Affordable Care Act, this new tax is effective January 1, 2013 and applies to wages, compensation and self-employment income above $200,000 for single filers, $250,000 for marrieds filing jointly and $125,000 for marrieds filing separately.…

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Avoiding Your Fiscal Cliff

We are all hearing much lately about the Fiscal Cliff.  According to Investopedia (http://www.investopedia.com/terms/f/fiscalcliff.asp#ixzz2FbZsvKK6, the Fiscal Cliff is “a combination of expiring tax cuts and across-the-board government spending cuts scheduled to become effective Dec. 31, 2012. The idea behind the fiscal cliff was that if the federal government allowed these two events to proceed as planned, they would have a detrimental effect on an already shaky economy, perhaps sending it back into an official recession as it cut household incomes, increased unemployment rates and undermined consumer and invester confidence.”

Dangerous CliffRegardless of how these events turn out, business owners should always be focused on avoiding their own Fiscal Cliff. …

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The Value of Experience

I have been told that Oak trees have a long life span and only began producing acorns when they are much older.  In fact, according to one website, “oak trees can start producing acorns when they are 20 years old, but sometimes can go all the way to 50 years for the first production. …

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