From 1952 to 1972, the cost of the public payroll multiplied more than fourfold, from $35 billion to $150 billion. The 330% increase over that period exceeds the 247% growth of employee compensation in private industries ($161 billion to $557 billion). In 1952, the average worker in private employment earned 5% more than his counterpart in government. By 1972, he had fallen 10% behind. Continue reading
Category Archives: Howard Lipset
I have a client who delivered to me a series of transactions and documents in one email.
The first concerned the deposit of a cashier’s check on a bank in Ohio. The second, an email from the agent who sent the check, requesting their commission payment by wire transfer immediately. The agent explained to my client that since the cashier’s check would be available immediately, that there was no problem sending the wire immediately, as well.
The Affordable Care Act (ACA) calls for individuals to have qualifying health insurance coverage for each month of the year, have an exemption, or make a shared responsibility payment (this is the penalty tax) when filing his or her federal income tax return.
You may be exempt from the requirement to maintain qualifying health insurance coverage, called minimum essential coverage, and may not have to make a shared responsibility payment when you file your next federal income tax return.
The FTC is warning small businesses not to open emails with the subject line “Pending consumer complaint” claiming to be from the government agency. The email falsely states that a complaint has been filed with the FTC.
The FTC does not contact anyone via email.
If a business owner is spending more than five hours a month on any particular function, they must consider outsourcing the work. In today’s world, many functions performed by specialized departments in large corporations are available to small business from small companies. Continue reading
Yes, we want to be able to use our GPS functions and get directions, but are you aware that some of your apps are tracking you as well?
Apps like Evernote and Dictation are logged into your GPS. Why do you need that? Every bank app I have is logged into my GPS. I don’t need to know where the nearest ATM is. I can search by zip code if I have to.
It’s true: tax scams proliferate during the income tax filing season. This year’s season opened on January 31. The IRS provides the following scam warnings so you can protect yourself and avoid becoming a victim of these crimes:
- Be vigilant of any unexpected communication purportedly from the IRS at the start of tax season. Continue reading
The State of New York is giving a refundable tax credit of up to 20 cents a gallon on clean heating fuel, also known as biofuels. All you need to know is your dates of purchase, gallons purchased and percent of biofuel. Many oil companies that deliver biofuels will give you a delivery schedule for the entire year. You can make a copy and attach it to Form IT-241 and transfer the credit to your primary NYS tax form and reduce your tax.