Good Reference for doing business in Latin America

Go Read Crush It today

Hello everybody.   Just wanted everybody to read Crush It! by Gary Vaynerchuk if you have not done so yet.  It is fantastic

Texas Workforce commissions Due Dates and Instructions

If you have a business in Texas the first quarter report is due April 30th.  If you have Bleifeld CPA as your financial adviser it would be taken care of automatically.

WWW.BleifeldCPA.com

TWC Tax Report/Remittance Due Dates
and
Mailing Instructions

Due Dates for Employers' Quarterly Report and Remittance:

For Wages Paid During	Calendar Qtr. Ends	Due	Must be Filed/Paid By
Jan, Feb, Mar	March 31	April 1	April 30
Apr, May, Jun	June 30	July 1	July 31
Jul, Aug, Sep	September 30	October 1	October 31
Oct, Nov, Dec	December 31	January 1	January 31

Due Dates for Annual Domestic Employer's Report and Remittance:

Quarterly reports and taxes become due on January 1 and are required to be reported and paid no later than January 31 with respect to wages for employment paid in the preceding calendar year. The employer will file their quarterly reports on one combined form which is mailed to the employer in December of each year.

Important Note:

If the past due date for a report or tax payment falls on Saturday, Sunday or a legal holiday on which Commission offices are closed, reports and payments are considered timely if they are received on or before the following business day.

Mail Reports and Remittance To:

Cashier - Texas Workforce Commission
P.O. Box 149037
Austin, TX 78714-9037

Hire a New Employee - Keep the Social Security

You may be able to save some money on new hires this year.  See the IRS below.

http://www.bleifeldcpa.com/


Two New Tax Benefits Aid Employers Who Hire and Retain Unemployed Workers


IR-2010-33, March 18, 2010

WASHINGTON — Two new tax benefits are now available to employers hiring workers who were previously unemployed or only working part time. These provisions are part of the Hiring Incentives to Restore Employment (HIRE) Act enacted into law today.

Employers who hire unemployed workers this year (after Feb. 3, 2010 and before Jan. 1, 2011) may qualify for a 6.2-percent payroll tax incentive, in effect exempting them from their share of Social Security taxes on wages paid to these workers after March 18, 2010. This reduced tax withholding will have no effect on the employee’s future Social Security benefits, and employers would still need to withhold the employee’s 6.2-percent share of Social Security taxes, as well as income taxes. The employer and employee’s shares of Medicare taxes would also still apply to these wages.

In addition, for each worker retained for at least a year, businesses may claim an additional general business tax credit, up to $1,000 per worker, when they file their 2011 income tax returns.

“These tax breaks offer a much-needed boost to employers willing to expand their payrolls, and businesses and nonprofits should keep these benefits in mind as they plan for the year ahead,” said IRS Commissioner Doug Shulman.

The two tax benefits are especially helpful to employers who are adding positions to their payrolls. New hires filling existing positions also qualify but only if the workers they are replacing left voluntarily or for cause. Family members and other relatives do not qualify.

In addition, the new law requires that the employer get a statement from each eligible new hire certifying that he or she was unemployed during the 60 days before beginning work or, alternatively, worked fewer than a total of 40 hours for someone else during the 60-day period. The IRS is currently developing a form employees can use to make the required statement.

Businesses, agricultural employers, tax-exempt organizations and public colleges and universities all qualify to claim the payroll tax benefit for eligible newly-hired employees. Household employers cannot claim this new tax benefit.

Employers claim the payroll tax benefit on the federal employment tax return they file, usually quarterly, with the IRS. Eligible employers will be able to claim the new tax incentive on their revised employment tax form for the second quarter of 2010. Revised forms and further details on these two new tax provisions will be posted on IRS.gov during the next few weeks.

IRS link

Great Book about Wall Street

Wanted to write today about a fantastic book about Wall Street. The book by Michael Lewis (who would go on to write The Blindside) gives an inside view of the crazy goings on at Salomon Brothers at the beginning of the mortgage industry being commoditized.

Read this book you will thank me later.