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  • Increased Medicare payroll tax

    May 2013
    Newsletter: Tax & Business Alert

    Price: $225.00, Subscriber Price: $157.50

    Word count: 379

    Abstract: The Medicare payroll tax is the primary source of financing for Medicare, which generally pays medical bills for individuals who are 65 or older or disabled. Wages paid through Dec. 31, 2012, were subject to a 2.9% Medicare payroll tax. Workers and employers pay 1.45% each. Beginning in 2013, individuals who have wage and/or self-employment income exceeding certain thresholds are subject to an additional 0.9% Medicare tax (that is, 2.35% total) on their earned income exceeding the applicable threshold. This article discusses the tax as it affects different categories of filers.

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  • Age-55 qualified retirement plan exception

    August 2012
    Newsletter: Tax & Business Alert

    Price: $225.00, Subscriber Price: $157.50

    Word count: 379

    Abstract: The taxable portion of a pre–age-59½ withdrawal taken from a qualified retirement plan or traditional IRA can be hit with a 10% early withdrawal penalty unless one of several exceptions applies. However, the list of exceptions is not identical for qualified plans and IRAs. This article looks at one case in which a taxpayer was hit with the 10% early withdrawal penalty when he rolled over his retirement plan money into an IRA and then took an early withdrawal. The U.S. Supreme Court disagreed with his contention that this shouldn’t have happened because the differing lists of penalty exceptions for qualified plans and IRAs were “illogical.”

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  • Go green, create some green – 7 ways to help the environment and your bottom line

    Summer 2010
    Newsletter: Auto Focus

    Price: $225.00, Subscriber Price: $157.50

    Word count: 379

    Abstract: Adopting sustainable business practices isn’t only the right thing to do — it also makes financial sense. Dealers can reduce their operating costs with simple facility upgrades and everyday changes. This article offers seven ways to do just that, including putting blinds on westward-facing windows, getting an energy audit, and checking with the manufacturer for initiatives it may be offering.

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