The tax cut from 6.2 percent to 4.2 percent, which was initially valid only through February 2012, has been extended through December 31, 2012, and could save the average family about $1,000 for the year.
This law also renews unemployment benefits, although limits have been set on the amount of time individuals in certain states can receive unemployment benefits.
In states where the unemployment rate is higher than the national average of 8.3 percent, individuals will see the length of time for their eligibility reduced from 99 weeks to 73 weeks.
In states where the unemployment rate is lower than 8.3 percent, individuals will see the length of time for their eligibility reduced to as low as 40 weeks.
States are now also permitted to drug test unemployment beneficiaries and prevent cuts in Medicare reimbursements for doctors.
As this new law goes into effect, continue to stay up to date with the most current information regarding the Tax Relief Act of 2012.
With Valentine’s Day marketing already at its peak, your business can still make a splash with some unconventional Valentine’s Day promotions. Pass on the hearts, red, and chocolates, and instead offer more options for more people to show a little extra love to your customers on Tuesday.
Employers offering a 401(k) and their plan participants may see a shift in the retirement marketplace once the deadlines take effect for the U.S. DOL Fee Disclosure Rules.
Client Fee Disclosure Rules require covered service providers to disclose all fees associated with qualified retirement plans to employers, who can then make more informed decisions about the services, costs, and the service provider. Effective July 1, 2012, employers will receive:
A written description of the services provided;
Detailed documentation of the direct and indirect compensation to be received;
Disclosure as to whether the provider is providing fiduciary services; and
Information about plan investments and options.
In turn, employers must disclose fees and other plan information to employees investing in the plans beginning August 30, 2012. This is part of Participant Fee Disclosure Regulations.
Current rules make it difficult for investors to determine what they’re actually paying for in their plan, since most fees aren’t currently included in account statements. With plan and fee information in hand, employees will be able to negotiate better deals and request more cost-efficient plans.
Increased scrutiny on fees may propel employers to offer more low-fund lineups. This will give employers more control and leverage to negotiate lower fees as they shop more aggressively in the retirement marketplace, according to Pamela Hess, director of retirement research at Aon Hewitt.
If you’re tuning into the big game on Sunday, you may plan to put your small-business mindsets on the back burner for a few hours. But not so fast.
According to Inc. Wire, a commercial from The Kauffman Foundation will be airing during the football game in select cities to reach out to entrepreneurs and small businesses. The foundation is offering up its online small-business resource, Will It Be You?, to help budding entrepreneurs and start-ups.
Football fans watching in New York City, San Francisco, Washington, and Kansas City will be seeing the animated commercial on Sunday. If you’re elsewhere, or want a sneak peak, check out the commercial below.
BuildMyBiz is touting a new mark these days. Nope, no tattoos here.
We’ve received a registered trademark, which is a legal way to identify and distinguish ourselves from similar folks out there.
When you have a business idea or invention, make sure you know how to protect it so it can remain yours. Learn the ins and outs about protecting your business under the law, including:
Registering a fictitious/DBA name
Safeguarding your domain name registration
Copyright protection FAQs
Differences between the many legal marks available, and what’s protected under each of them
The Tax Relief Act of 2012, passed today, will impact you and your employees’ payroll taxes for the rest of the year.
With Valentine’s Day marketing already at its peak, your business can still make a splash with some 
Employers offering a 401(k) and their plan participants may see a shift in the retirement marketplace once the deadlines take effect for 
We’ve received a registered trademark, which is a legal way to identify and distinguish ourselves from similar folks out there.
