Name: Christopher Axene, CPA, Principal
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Posts by Christopher Axene, CPA, Principal:
Surpise! Your Business Might Owe Retroactive Federal Unemployment Taxes
January 11th, 2012Employers may surprised to find that they owe more federal taxes on employee wages than they expected for 2011 and they could continue to pay more in 2012. Ohio, Michigan, Indiana, Kentucky and Pennsylvania are just a few of the 21 states that accepted a loan from the federal government for unemployment insurance that have outstanding balances on the loan – and as a result are collecting more federal unemployment taxes. Read the rest of this entry “
Wrong Worker Classification? IRS Offers Voluntary Settlement
October 6th, 2011Employers who have erroneously treated workers as nonemployees or independent contractors now have an opportunity to get into compliance with the IRS through a low-cost, voluntary reclassification program. Read the rest of this entry “
President Obama’s Jobs Bill: How Would It Impact Your Business?
September 19th, 2011Last week, President Obama outlined the American Jobs Act, his jobs creation bill, which he will soon send to Congress. The bill includes a number of tax components which could impact your business, if the legislation passes Congress. Among them: Read the rest of this entry “
What to Do? Uncertainty Continues to Make Tax Planning Difficult
September 2nd, 2011Ohio business and individual taxpayers, as well as their tax professionals, faced a great amount of uncertainty in 2010 as they waited to see what tax rules would apply to them for 2011 and 2012, until the 2010 Tax Relief Act was signed into law in December. Now, the recently approved debt ceiling legislation averted another immediate crisis, but continued this guessing game as Americans wait to see if comprehensive tax reform will be accomplished. Read the rest of this entry “
Waiting on the Airline Refund? Now It’s Not on the Way
August 11th, 2011So much for the airline tax refund you may have been expecting.
If you traveled by air and purchased a plane ticket on or before July 22, 2011, for a trip leaving July 23 or later, you may have heard that you may be eligible for a refund on the air transportation excise tax you paid. Recent legislation means there will not be a refund.
Read the rest of this entry “
Are You Eligible for an Airline Tax Refund?
August 10th, 2011If you traveled by air and purchased a plane ticket on or before July 22, 2011, for a trip leaving July 23 or later, you may be entitled to a refund on the air transportation excise tax you paid. Read the rest of this entry “
Do You Export? Lower Your Taxes with IC-DISC
March 9th, 2011If your manufacturing company has $1 million or more in export sales each year, or if you sell products that are ultimately destined for use overseas, you may benefit from a tax tool that was extended along with the Bush tax cuts in December. Read the rest of this entry “
Add $1,000 to retirement account without sacrifice? Here’s how
February 8th, 2011A provision of the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 decreased the employee portion of the Social Security tax from 6.2 percent to 4.2 percent for 2011. Now you have a rare opportunity for to increase your 401(k) contribution without any change in your net take-home pay in 2011 when compared to 2010. Read the rest of this entry “
Isn’t Extending the Bush Tax Cuts A Temporary Fix?
December 17th, 2010While some may be breathing a sigh of relief now that the brokered tax package has passed through Congress and is being signed by President Obama, others among us are becoming increasingly alarmed at the “temporary” nature of our tax laws – and the impact these temporary fixes will have on our long-term planning. Read the rest of this entry “
Why can’t federal agencies communicate with us more clearly?
November 1st, 2010Actually, federal agencies will soon be required to communicate more clearly with us. Earlier this month, President Obama signed the Plain Writing Act, which will require federal government agencies, including the IRS, to write public documents in easy-to-understand language. This means items such as tax forms, federal student aid applications, Veteran’s Administration forms and even form letters from the IRS will receive a makeover. Read the rest of this entry “
