SKR+Co. Alert
Health Care Tax Credit FAQs
The small business health care tax credit is designed to encourage small employers to offer health insurance coverage for the first time or maintain coverage they already have. In 2010, the credit is generally available to small employers that contribute an amount equivalent to at least half the cost of single coverage towards buying health insurance for their employees. The credit is specifically targeted to help small businesses and tax-exempt organizations that primarily employ moderate- and lower-income workers.
To see if you qualify for this credit and to learn more, Click Here
New Items on Form 1040
Despite calls for simplifying the tax laws, they have actually been made much more complicated in the last few years. This filing season is no different. The 2010 Form 1040 reflects a number of new tax breaks. Some are straightforward. Others are complex. Some present choices. But they all provide an opportunity to save money. We want you to be aware of the new tax breaks for this filing season so that you can take full advantage of them.
Click here for a listing of the key changes for this filing season.
Colorado Sales and Use Tax on Internet Purchases
Colorado has increased its efforts to collect sales/use tax on online purchases. While Colorado residents have always been required to pay use tax on their internet purchases, there was no mechanism in place to force compliance. Now there is. However, a recent injunction has put enactment on hold indefinitely.
Click here to learn more.
They have an App for That!
The IRS launched the IRS2Go App for the iPhone and the Android. Taxpayers can check refunds and get tax information literally at their fingertips!
For more information, Click here.
