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Good News for Procrastinating Home Buyers

In the last three years, the home buyer tax credit
first signed into law by President Bush has been
expanded and extended multiple times. 3 million
home buyers have already taken advantage of the
tax credit and more plan to follow as President
Obama has extended the credit yet again. Qualified
home buyers need to have signed a purchase
agreement before May 1st, but the new legislation
extends the original closing date of June 30th to
September 30th.


Getting Paid for Healthy Employees

Provisions in a new reform law offer attractive
rewards for small businesses that offer employee
wellness and prevention programs. Starting next
year, $200 million in grants is available for
businesses that launch programs that concentrate
on issues such as nutrition, stress management,
smoking cessation or physical fitness. To qualify,
the small business must have fewer than 100
employees. Additionally, in 2014 the grants will
allow employers to offer participating employees
reward payments of up to 30% of their insurance
coverage costs.


Deadline Approaching

It's that time again! Federal and State Quarterly
reports are due at the end of July. Most employers
are required to file these reports and pay the taxes
four times a year. Late filings could result in
penalties and interest. Here's a few tips:
  • Make sure to get your accountant all
    necessary documents to complete your
    second quarter payroll reports in a timely
    manner. This could include bank statements,
    check registers, payroll tax deposits, and
    payroll summaries.
  • Your accountant needs the updated tax
    rates sent to you by the Florida Department
    of Revenue.
Think On It: Energy Rebates

Much like the previous "Cash for Clunkers"
program, the government's Cash for Appliances
program offers taxpayers rebates from $50 to $500
for trading in energy-wasting appliances for more
efficient ones. However, there are a few issues to
think about before you run out to the nearest
appliance store.
  1. The rebates are given out on a first come,
    first served basis. And Florida's program
    remained open only 36 hours before running
    out of money.
  2. Most states offer their own programs. Check
    out Florida's Incentives here.
  3. Taxpayers will be able to claim a $1500
    federal tax credit for many energy related
    improvements. Also, rebates may be soon
    available under the proposed "Cash for
    Caulkers" which has already been passed by
    the House.
  4. Choose your energy saving spending wisely.
    Perform a home energy audit and figure out
    what projects will generate better savings.


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Is a MidYear Tax Check Up Right for You?
Hire Employees, Receive Tax Breaks
Employees Liable for Company Credit Cards
Stimulus Cash Running Out
Summer 2010 News
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