2011 Mileage Reimbursement Rates and Additional information

On December 3, 2010, the Internal Revenue Service issued the 2011 optional standard mileage rates to calculate deductible costs of operating an automobile for business purposes. Beginning January 1, 2011 the standard mileage for the use of a car will be:• 51 cents per miles for business miles driven• 19 cents per miles driven for medical or moving purposes• 14 …

Tax Relief Act of 2010 Recently Signed Into Law

The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (HR 4853) was signed last Friday by President Obama. This act will provide tax relief to all employees in the country. As reported a few months ago, the individual income tax rate reduction that the country has been operating with in for the past decade would have expired …

Increase in Federal Unemployment Rates for Three States, with More to Come

Employers in 3 states will be required to pay more in Federal Unemployment for 2010, with potentially an additional 21 states following suit in 2011. Employers with business in Michigan, Indiana and South Carolina will have additional taxes added to their 2010 Federal Unemployment Report 940. These states’ unemployment funds borrowed money from the federal unemployment fund and did not …

IRS Releases Form and Additional Guidance on Small Business Health Care Tax Credit

The Internal Revenue Service recently released final guidance on the small business health care tax credit included in the Health Care Reform enacted earlier this year. A one-page form as well as instructions for small employers, were included in this release. Small for-profit businesses will use the new Form 8941 to claim the credit for the 2010 tax year. The IRS also …

HR Holiday Survival Tips

Bells are ringing, lights are blinking and yummy goodies are being shared with holiday cheer.  Although the good feelings and warm wishes surround us during this winter time of celebration, it is also the time for stress and accidents.  Here’s a list of tips from StaffScapes to make sure you and your employees bring in the New Year safely. Around the Office1. …