Payroll Tax Cut Temporarily Extended into 2012

Payroll Tax Cut Temporarily Extended into 2012

Nearly 160 million workers will benefit from the extension of the reduced payroll tax rate that has been in effect for 2011. The Temporary Payroll Tax Cut Continuation Act of 2011 temporarily extends the two percentage point payroll tax cut for employees, continuing the reduction of their Social Security tax withholding rate from 6.2 percent to 4.2 percent of wages paid through Feb. 29, 2012.

Employers should implement the new payroll tax rate as soon as possible in 2012 but not later than Jan. 31, 2012. For any Social Security tax over-withheld during January, employers should make an offsetting adjustment in workers’ pay as soon as possible but not later than March 31, 2012. For more information call or email.

Amare Berhie, Senior Tax Accountant

CEO, ABA Tax Accounting

amare@abataxaccounting.com

Phone 612-282-3200

Toll Free 866-936-0430

www.abataxaccounting.com

Year-End Tips to Reduce 2011 Taxes

Year-End Tips to Reduce 2011 Taxes

ABA Tax Accounting want to remind you that with the New Year fast approaching, there is still time for you to take steps that can lower your 2011 taxes. However, you usually need to take action no later than Dec. 31 in order to claim certain tax benefits. Here are some tax-saving tips for you to consider before the calendar turns to 2012:

  • Make Charitable Contributions
  • Install Energy-Efficient Home Improvements
  • Consider a Portfolio Adjustment
  • Contribute the Maximum to Retirement Accounts
  • Make a Qualified Charitable Distribution

For more information call or email

Amare Berhie, Senior Tax Accountant

ABA Tax Accounting

amare@abataxaccounting.com

Phone 612-282-3200

Toll Free 866-936-0430

www.abataxaccounting.com

Domestic outsourcing solutions for Accountants/CPA firms!

Why offshore your Finance and Accounting process while you can outsource domestic for about the same amount and create jobs here in the USA!

ABA Tax Accounting is located in St. Paul, Minnesota, offering low cost domestic outsourcing solutions for Accountants and CPA Firms from general accounting to tax preparation and accounting professional temporary staffing services.

Our cost-effective outsourcing solutions allow our clients to streamline their day-to-day business operations and lower overhead costs without sacrificing quality or productivity.

We assist accounting firms to meet client demands, both during tax season and throughout the year.  Moreover, at ABA Tax Accounting, we provide flexibility to our clients to increase their resources without any new financial investment.

Our mission is to provide customized outsourcing solutions that streamline operations and reduce costs and risk, allowing clients to focus on what matters most to their business.

For more info, please contact us today.

ABA Tax Accounting

Amare Berhie, Managing Member

10670 Hawthorn Trail

St. Paul, MN 55129

Direct: 612-282-3200

amare@abataxaccounting.com

Toll free 866-936-0430

http://www.abataxaccounting.com

Domestic outsourcing solutions for Accountants/CPA firms!

Why offshore your Finance and Accounting process while you can outsource domestic for about the same amount and create jobs here in the USA!

ABA Tax Accounting is located in St. Paul, Minnesota, offering low cost domestic outsourcing solutions for Accountants and CPA Firms from general accounting to tax preparation and accounting professional temporary staffing services.

Our cost-effective outsourcing solutions allow our clients to streamline their day-to-day business operations and lower overhead costs without sacrificing quality or productivity.

We assist accounting firms to meet client demands, both during tax season and throughout the year.  Moreover, at ABA Tax Accounting, we provide flexibility to our clients to increase their resources without any new financial investment.

Our mission is to provide customized outsourcing solutions that streamline operations and reduce costs and risk, allowing clients to focus on what matters most to their business.

For more info, please contact us today.

ABA Tax Accounting

Amare Berhie, Managing Member

10670 Hawthorn Trail

St. Paul, MN 55129

Direct: 612-282-3200

amare@abataxaccounting.com

Toll free 866-936-0430

http://www.abataxaccounting.com

Foreign financial asset reporting regulations issued

Foreign financial asset reporting regulations issued

The Internal Revenue Service issued temporary and proposed regulations regarding the requirement that taxpayers report specified foreign financial assets to the IRS starting with 2011 tax years. For more info please contact:

Amare Berhie, Senior Tax Accountant

amare@abataxaccounting.com

Phone 612-282-3200

Toll free 866-936-0430

www.abataxaccounting.com

www.facebook.com/abataxaccount

Foreign financial asset reporting regulations issued

Foreign financial asset reporting regulations issued

The Internal Revenue Service issued temporary and proposed regulations regarding the requirement that taxpayers report specified foreign financial assets to the IRS starting with 2011 tax years. For more info please contact:

Amare Berhie, Senior Tax Accountant

amare@abataxaccounting.com

Phone 612-282-3200

Toll free 866-936-0430

www.abataxaccounting.com

www.facebook.com/abataxaccount

IRS Offers Tips for Year-End Giving

Individuals and businesses making contributions to charity should keep in mind several important tax law provisions that have taken effect in recent years.

Special Charitable Contributions for Certain IRA Owners

This provision, currently scheduled to expire at the end of 2011, offers older owners of individual retirement accounts (IRAs) a different way to give to charity. An IRA owner, age 70½ or over, can directly transfer tax-free up to $100,000 per year to an eligible charity. For free consultation contact us today to setup appointment.

Amare Berhie, Senior Tax Accountant

ABA Tax Accounting

 612-282-3200

Email amare@abtataxaccouning.com

IRS Offers Tips for Year-End Giving

Individuals and businesses making contributions to charity should keep in mind several important tax law provisions that have taken effect in recent years.

Special Charitable Contributions for Certain IRA Owners

This provision, currently scheduled to expire at the end of 2011, offers older owners of individual retirement accounts (IRAs) a different way to give to charity. An IRA owner, age 70½ or over, can directly transfer tax-free up to $100,000 per year to an eligible charity. For free consultation contact us today to setup appointment.

Amare Berhie, Senior Tax Accountant

ABA Tax Accounting

 612-282-3200

Email amare@abtataxaccouning.com

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