By law the dollar amount of many tax provisions increases automatically for inflation. The IRS has released the inflation adjustments for 2012. Personal and dependent exemptions increase $100 to $3,800 Standard deduction increases to $11,900 for marrieds filing jointly, $5,950 for singles and $8,700 for head of households The threshold that jumps you to a [...]
Many taxpayers wait until year end to use the funds in their flexible spending accounts, but you need to be aware of changes to the rules that took effect this year. The Affordable Care Act of 2010 made some changes to healthcare programs offered by employers. If you participate in any of these programs, here’s [...]
If you are a small employer that pays at least half of the premiums for employee health insurance coverage under a qualifying arrangement, your business may be eligible for the small business health care tax credit. This credit was added to encourage small businesses to offer health insurance coverage for the first time. If you [...]