Posts Tagged ‘unemployment’

Goldman Sachs Hearings, U.S. Financial Reforms & Unemployment &

Wednesday, April 28th, 2010

Read the following updates regarding:

  •  The Senate grilling of Goldman Sachs’ Executives (WSJ):

WSJ.com – Goldman Sachs Senate Hearings – Bruised/ Defiant. Do the Senators Really Understand What Market Makers Do? http://on.wsj.com/95hr1G

 

  • Proposals to Revamp the U.S. Financial System (FT):

Martin Wolf (Financial Times) Evaluates U.S. Financial Reform Options http://www.ft.com/cms/s/0/cca02e40-522d-11df-8b09-00144feab49a.html

 

  • The Press Spin to Put Lipstick on the Unemployment Pig: 

347 Regions Experience Higher Unemployment.But Press Spins the News as Positive   http://bit.ly/bXPwD6

 

  • Going Green – The Wind Solution May Just Be Hot Air (WSJ):

WSJ.com – “Power Hungry” by Robert Bryce – The Wrong Way To Get to Green http://on.wsj.com/8ZIW2r

 

For all my Twitter Updates, please follow me at:

http://twitter.com/taxcredits_CPA

California and Federal Tax Refunds Overlooked by Many

Monday, March 1st, 2010

In today’s challenging economic period, business owners are looking for every way to reduce costs and increase cash flow and profits.

We continue to see businesses and their CPAs overlook extremely valuable tax breaks, including:

- Federal and State Hiring Credits ($500 to $15,000 per employee)

http://www.blakechristian.com/hiring_tax_credits.html

http://www.blakechristian.com/california_tax_incentives.html

- Federal and State Eco/ Energy/ Green Credits (10% to 50%)

http://www.blakechristian.com/energy_tax_credits.html

- Use of Interest Charge DISCs for Export Sales

http://www.alliantgroup.com/_ag/index.cfm/our-services/export-incentives/interest-charge-domestic-international-sales-corporation-ic-disc1/

- Evaluation of Compensation Structure Options to Minimize After-Tax Cash Outflows.  This includes taking advantage of the lucrative and flexible qualified retirement plan rules.

http://www.cpa2biz.com/Content/media/PRODUCER_CONTENT/Newsletters/Articles_2008/CorpTax/Compensation.jsp

http://www.cpa2biz.com/Content/media/PRODUCER_CONTENT/Newsletters/Articles_2007/CorpTax/Services.jsp

- Re-Evaluating Legal Structure of Business Operations to Minimize Taxes

http://www.taxguideonline.com/hcvt/

There is still time to claim many of these tax benefits on your 2009 tax returns. 

www.blakechristian.com

For Daily Tax and Economic Updates, please follow me on Twitter:

http://twitter.com/taxcredits_CPA

 

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2011 U.S. Budget – $1.6 Trillion Deficit

Monday, February 1st, 2010

Obama’s 2011 Budget Proposal – Winners and Losers

The Departments of Education and Energy will be applauding the President’s budget proposal since they might see increases of 16% and 6.8%, respectively.

On the other hand, the petroleum industry, NASA and those pesky taxpayers making more than $250,000 will be less enamoured with the 2011 budget.

The debate will likely be heated over the coming months as the final budget is hammered out in Congress as fiscal accountability takes center-stage.

For more details, please see the article links below:

Office of Budget and Management – The Facts With a Little Less Spin:  

http://www.whitehouse.gov/omb/

Reuters’ Analysis: http://www.reuters.com/article/idUSTRE60U00220100131

Heritage Foundation Analysis: http://blog.heritage.org/2010/02/01/morning-bell-the-obama-budget-higher-taxes-higher-spending-and-more-debt/

An Analysis From the U.K/ Financial Times -

http://www.ft.com/cms/s/0/e538dfd4-0e98-11df-bd79-00144feabdc0.html

 

For daily updates, please follow me on Twitter @:

http://twitter.com/taxcredits_CPA

 

Thank you

Jobs! Jobs! Jobs! – Obama Proposal and Existing State & Federal Hiring Tax Incentives

Saturday, January 30th, 2010

Hiring Credits – $500 to $15,000 Per Employee

Eco/ Green Credits – 10% to 50% of Equipment Costs

President Obama spent a good portion of his State of the Union Speech focused on jobs and the economy.

 Throughout California – and across the U.S. – there are literally thousands of specified “tax zones” which allow employers hiring new employees to claim valuable federal and state hiring credits, as well as other tax and economic incentives.  In addition, certain state and federal programs such as the federal WOTC program and the California new jobs credit, which apply to businesses operating in any jurisdiction with the federal or state boundaries, respectively.

 

Click here for my latest AICPA hiring credit article, and please rate it at the end of the article:

 http://www.cpa2biz.com/Content/media/PRODUCER_CONTENT/Newsletters/Articles_2010/CorpTax/Jobs_Jobs.jsp

 

Obama’s proposed $5,000 per employee hiring credit – up to $500,000 per taxpayer:

http://thehill.com/blogs/blog-briefing-room/news/78661-obama-to-roll-out-jobs-tax-credit-proposal-friday

 

 For more information regarding the California general jobs credit and the CA Enterprise Zone Program, please click on the links below:

 http://www.ftb.ca.gov/businesses/New_Jobs_Credit.shtml   $3,000 CA Jobs Tax Credit

http://www.hcvt.com/services/hiring-a-equipment-credits–ez-studies-.html  EZ Hiring & Equipment Credits

 

 For information regarding the 10% to 50% Federal and State Energy and Pollution Control Credits:

 http://www.blakechristian.com/green_tax_incentives.html

 Please do not hesitate to contact me with any questions or comments.

 For ongoing tax and economic updates, please follow me on Twitter: http://twitter.com/TaxCredits_CPA

 

 (562) 590-9535 x1800 – Telephone

(562) 216-1803 – Fax

Blakec@hcvt.com

www.hcvt.com

Hire a Veteran – Give a Job and Get a Tax Refund

Saturday, March 21st, 2009

Our returning troops are coming back to one of the worst employment environments in decades.  After giving so much for our country, we can show our gratitude by providing them a good job.   In addition to "doing the right thing", employers will find a variety of federal and possible state hiring tax credits ranging from $4,500 to $13,000 per veteran hired.

Read more how veterans can use these programs to improve their job prospects and how employers can save tens of thousands of dollars annually:

Download Veteran-Employer Tax Breaks REVISED for 2009 Recovery Act

Download NTCG Tax Credit Card Press Release 11.12.2007

Jobless rate for recent military veterans rises – CNN.com

 

 

www.usvetsinc.org 

 

www.ntcgtax.com   Check out our Tax Credit Card

Tea Party – Develop Your Own Tax Stimulus Package – Significant State and Federal Tax Credits Available Now

Saturday, March 7th, 2009

No need take any extreme measures when it comes to your taxes.

 

Even if you have already filed your 2008 business or personal tax return it is not too late to get some of your prior taxes back.   If you have extended your 2008 returns – read on and make sure you are not overpaying your state and federal taxes – since most taxpayers do.

 

Please scan through this entire blog and the "Library" Section of this site to find hundreds of tax refund opportunities for businesses as well as individuals.

 

With tax developments at both the federal and state level, it is time to make sure that you pay no more than your fair share of the growing tax burden.   I'm sure you can put your hard earned dollars to more effective use than the government – so get educated on all the existing, legitimate tax breaks available to you and your business.

 

Nationally, over 20 percent of businesses have one or more locations that fall within a Location Based Investment Credit (LBIC) zone and of this eligible pool of businesses, less than 10 percent of these qualifying companies actually claim the benefits they are entitled to. As a result, CPAs, CFOs and tax directors have an excellent opportunity to dramatically increase shareholder value by taking advantage of the valuable tax incentives. Since the federal programs allow up to three years of amended return refunds and many states also allow retroactive benefit claims, immediate tax advantages can be secured along with favorable EPS impact.

 

These benefits range from $500 to $15,000 per employee, depending on the specific state and federal program.

 

In addition to these location-based credit programs, there are a number of federal programs which apply to virtually any business.  These programs include the Work Opportunity Tax Credit (WOTC) and the Welfare-to-Work (WtW) programs which can generate federal hiring credits ranging from $2,400 to $8,500 per qualified employees.  The 2009 federal Stimulus Package and California Budget Package expanded these programs even further.

 

These programs apply to a fairly wide range of employees, including many veterans, laid off/ unemployed candidates and those individuals with economic or medical challenges.

 

These programs are seldom accessed by taxpayers due to their unfamiliarity with the program specifics.   The significant tax reductions (including refunds) available under these programs should encourage every employer to start utilizing these state and federal programs immediately.

 

In addition to saving taxes, by hiring these economically challenged individuals, employers are contributing to their community.   Download Focusing on Unemployment 12.2008

 

 

Click here for my various 2009 CNN News Reports on the Stimulus Package, Tax and Economic Issues:      http://www.hcvt.com/media.aspx

 

 

 

Download 2009 AICPA Top 10 Tips for Tax Planning

 

 

 

 

Click below to see our proprietary tax credit software and save taxes in any state:

http://tax.cchgroup.com/FlashDemos/tzl/main.htm

See a video of our slick software that will tell you the hidden tax benefits for any address in the U.S.

Below are a number of links and articles that explain the state and federal program benefits:

http://www.cpa2biz.com/Content/media/PRODUCER_CONTENT/Newsletters/Articles_2008/CorpTax/EZstreet.jsp

Steering Tax Life on 'EZ' Street

With combined federal and state burdens often in the 40 percent range, a material reduction in a company's tax rate can produce significant savings.

http://www.cpa2biz.com/Content/media/PRODUCER_CONTENT/Newsletters/Articles_2008/CorpTax/Tax_Burden.jsp

State Tax Burden

More taxing than you might think. SALT in the wound?

Download Urban Success Mag Tax Break article

Urban Success Magazine Article (No Urban Legend Here – Tax Benefits are Real)

Download Hire a Hero 19May08

Hire a Veteran – Save Taxes While Changing a Life

Download 2009 AICPA Top 10 Tips for Tax Planning

 

 

Union Card Check – The End of the Private Ballot ? The End of Free Enterprise?

Tuesday, February 10th, 2009

Latest Development (3/22/09):

Starbucks, Costco and Whole Foods have proposed an alternative approach to the Employee Free Choice Act.  In lieu of the 50% threshold, this new proposal would require 70% of employees to sign union cards in order to automatically become a union shop.  Read the following WSJ article for more details on this alternative:

Download Alternative Free Choice Act WSJ March 21

                                        

A looming Congressional battle may soon overshadow the Obama Stimulus Package (TARP 2) and the challenging economic environment.

If enacted, the union-backed and Obama administration-backed euphemistically titled "Employee Free Choice Act" will effectively end an employee's ability to cast a confidential ballot when their workplace is deciding whether to retain non-union status, or convert to a union shop.

Confidential voting is a critical element to our democratic process and the proposed "Card Check" system will place the employee in a very awkward position with both the employer and the unions.  I doubt many citizens would approve of releasing their 2008 Presidential ballot to their employer and others to see how they voted on federal, state and local matters - and this Card Check system is a dangerous precedent. 

Employers, workers and legislators should take a hard look at the labor rates, pension, employee benefit and other costs in unionized and non-union businesses structures.   Apparently the late 2008 widespread backlash against the U.S auto industry's union cost structure (vs. foreign competitors with U.S. unionized manufacturing operations) has faded from the public for the moment. 

Job creation and retention should be a cornerstone of the stimulus effort; however, balancing a fair wage and benefit package while achieving an internationally competitive business structure is the critical objective for all of us.

If legislators truly want to retain and create jobs and stretch our tax dollars, now is not the time to ratchet up high-cost union jobs at the expense of non-union jobs.  Both types of operations have their merits, but the awarding of infrastructure contracts and incentivising job growth should not focus solely on union shops. 

Please read the U.S. Chamber and Cal Chamber's summary of this critical issue and the significant damage this will do to private enterprise:

http://www.uschamber.com/issues/index/labor/cardchecksecrbal.htm

http://www.uschamber.com/chambers/efca_gr_toolkit    U.S. Chamber Card Check Toolkit – Act Today

Download US Chamber Card Check

Download Cal Chamber Card Check Position Summary

Download Long Beach Press-Telegram 2009 Infrastructure Op-Ed 

Infrastructure Employment Stimulus, FDIC Insurance and Money Market Guarantees

Sunday, January 25th, 2009

Download Long Beach Press-Telegram 2009 Infrastructure Op-Ed 

Download 2008-dec-skyrocketing-unemployment-lbics-1

Download 2009 LB Magazine Investment Strategies

Download 2008 FDIC Insurance Coverage

Download 2008 SEC Money Market Guarantee

   http://www.sec.gov/answers/investoralert.htm

Infrastructure and Employment

Infrastructure projects are at the top of national, state and local agendas as the best way to stimulate the economy and reverse the spiraling unemployment trends.  There is a clear need for infrastructure investment; however,to maximize the stimulus effect and minimize the taxpayers' cost of these projects, legislators need to carefully allocate and monitor the underlying construction contracts. 

Bank Account Insurance and Money Market Guarantees

With the continuing banking and stock market uncertainties, businesses and personal investors are wise to exercise extreme caution and diversification of their investment and banking relationships.  Concentration of either interest-bearing or non-interest bearing accounts in any one bank – or even in multiple banks for taxpayers with large cash balances, may be regretted in coming months.

Money market funds and both corporate and tax-exempt bond portfolios should also be re-examined by a bond expert for both default risks and interest rate/ market  risks when rates increase in the future.

While municipal bonds may be viewed as reasonably safe by many experts, many state and local governments are also facing unprecedented revenue and cost challenges and higher cost of financing as a result of the faltering economy, which may add to risk on many outstanding bonds.  Therefore, extra care should be factored into the review of this part of your portfolio.

See other Blog entries below as well as a variety of articles in the "Library" section of this site. 

2009 Tax, Investment & Strategic Planning – Preparedness Will Increase Probability of Success

Friday, January 9th, 2009

Forewarned is Forearmed –

Download 2009 LB Magazine Investment Strategies

Download 2009 LB Chamber

Download 2009 Top 10 New Year

2009 is destined to be another challenging year for business owners and consumers.   The attached articles discuss the various investment, tax and strategic planning strategies to employ during these uncertain times.

On the positive side, the current volatile economy offers the savvy businessperson unlimited opportunities to thrive in calendar 2009.