Hi, Website Visitor. Here are your Articles for November 12, 2008.
Rea & Associates, Inc. Announcements
A Change is Coming for S-Corp Shareholders
A Section 125 Cafeteria Plan can be a great tool to help combat rising health care costs. This plan allows employees to pay for eligible qualified benefits through payroll withholding on a pre-tax basis, which means such contributions are not subject to Federal or Ohio income tax or Social Security & Medicare taxes. In addition, employers do not have to pay FICA, Medicare or Federal Unemployment Tax on the wages contributed to the plan by employees. The lower taxable income of the employees also results in lower workers compensation premiums paid by the employer.
According to the IRS, more than 279,000 economic stimulus checks totaling approximately $163 million were returned by the U.S. Postal Service due to mailing address errors.Taxpayers who may be due a stimulus check must update their addresses with the IRS by November 28, 2008.By law, economic stimulus checks must be sent out by December 31, 2008, so if you haven't received yours yet, take action before it's too late.
Are you concerned about how you will afford your child's college education with shrinking balances in your savings accounts? Do you need direction on how to assist your aging parents with their financial needs? Do you want to find ways to spend less each month? Helpful and understandable information on these and so many other questions is now available at your fingertips.
Telling personal stories makes presentations stronger. Politicians have long understood this. They know that forging a connection with an audience on an emotional level is crucial if they want to have any lasting influence. They know personal stories can deliver that emotion.
We take great care in the preparation of our articles and announcements. We also have a process of reviewing articles when major changes take place. The business, legal and tax climate is constantly changing especially when reviewed on an industry basis.
It may be very important to consult with us or your Investment Advisor before implementing ideas contained in articles and announcements. Many ideas have complexities and nuances that cannot be adequately detailed in the articles or announcements. We are not responsible for errors, misinterpretations or omissions related to these articles or announcements. Nor are we responsible for the applicability to your personal, business or tax situation.
Pursuant to Circular 230 promulgated by the Internal Revenue Service, if this email, or any attachment hereto, contains advice concerning any federal tax issue or submission, please be advised that it is not intended or written to be used, and that it cannot be used, for the purpose of avoiding federal tax penalties unless otherwise expressly indicated.
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