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First-Time Homebuyer Credit – 2010 Update

Equus’ Chris Munzke, CPA GMS discusses the updates made to the First-Time Homebuyer Tax Credit by the “Worker, Homeownership, and Business Assistance Act of 2009” and the “Homebuyer Assistan ...July 16, 2010 - 11:44pm View full entry

Will Quarterly W-2 Reporting be required in 2011?

HISTORY:

As some of you may recall, prior to January 1978, employers filed their tax reports and wage reports with the IRS on a quarterly basis.  The quarterly FICA tax report forms used were ...June 29, 2010 - 10:57pm View full entry

IRS Announces 2010 Standard Mileage Rates

Beginning on January 1, 2010, the standard mileage rates for use of a car (also vans, pickups or panel trucks) will be:

  • 50 cents per mile for business miles driven
  • 16.5 cents per mile drive ...December 3, 2009 - 10:00pm View full entry

    Social Security Maximum Released for 2010

     2010 OASDI Maximum remains $106,800

    Social Security's Old-Age, Survivors, and Disability Insurance (OASDI) program limits the amount of earnings subject to taxation for a given year. The same ...October 17, 2009 - 9:00pm View full entry

    First-Time Homebuyer Credit


    Equus’ Chris Munzke, CPA CRP discusses the impact of relocation on the 2009 First-Time Homebuyer Credit.

    For homes purchased in 2008, the First-Time Homebuyer Credit operates much like an inter ...July 1, 2009 - 2:00pm View full entry

    IRS Announces 2009 Standard Mileage Rates

    Beginning on January 1, 2009, the standard mileage rates for use of a car (also vans, pickups or panel trucks) will be:

    • 55 cents per mile for business miles driven
    • 24 cents per mile driven ...November 25, 2008 - 6:00pm View full entry

      Economic Stimulus Payment / Recovery Rebate Credit

      Should You Consider the Recovery Rebate Credit in Your Gross-Up Calculations?

      Per the IRS, the Economic Stimulus Payment is not taxable for federal income tax purposes. Since this payment is n ...November 1, 2008 - 3:00pm View full entry

      Social Security Maximum Released for 2009

       2009 OASDI Maximum set at $106,800

      Social Security's Old-Age, Survivors, and Disability Insurance (OASDI) program limits the amount of earnings subject to taxation for a given year. The sam ...October 17, 2008 - 10:00pm View full entry

      IRS Raises Standard Mileage Rates Effective July 1, 2008

      Internal Revenue Service Announcement 2008-63 raises the standard mileage rate from $.505 per mile to $.585 per mile for all mileage incurred on or after of July 1, 2008.  The excludable mileage ra ...July 1, 2008 - 8:14pm View full entry