The Economy and Its Impact on Small Business
Learning Objective:
Nadine Hughes, vice president of tax for CompuPay, discusses the state of the economy in January of 2012 and its effect on the business community. Ms. Hughes details 2012 regulations and tax changes including:
- The Temporary Payroll Tax Cut Continuation Act of 2012 which extended the reduced Social Security tax rate of 4.2% for employees through February 29, 2012. (UPDATE: This webinar specifies that the employee portion of the Social Security tax rate of 4.2% was extended through February 29, 2012. Since the time of this recording, Congress has extended that rate through December 31, 2012.)
- The Voluntary Classification Settlement Program (VCSP) that the IRS has launched to encourage employers to properly classify workers as employees and drastically reduce related tax liabilities in the process.
- Health care reform, including information on the Small Business Health Care Tax Credit, who is eligible and how to get the credit.
- Work Opportunity Tax Credits: New credits available and which credits have been discontinued
- An in-depth explanation of federal and state unemployment, the insolvency of the unemployment trust funds, FUTA credit reductions and what all this means to businesses across the country.
- Resources to help you maintain up-to-date information.
Please note: Prerecorded webinars do not qualify for CPE credit.