April 17, 2013 |
With a touch of theatrics and an eye toward his reelection, Gov. Christie used Monday's tax deadline to drop a revived tax-credit plan on the Democrats who control the Legislature. "Everybody who works and makes up to $400,000 would be getting a tax cut under this plan," the Republican governor announced. The plan would not cut property taxes for New Jerseyans, who have the nation's highest average property-tax bill. Instead, similar to a plan Christie unsuccessfully pushed last year, it links a 10 percent reduction in income taxes to how much a homeowner pays in property taxes, and restores Christie's previous cut in a tax credit for the working poor.
April 12, 2013
EXCUSE ME for bringing up a bad subject, but Monday is when you pay Uncle Sam what you owe in taxes. And tax experts say too many entrepreneurs often leave legitimate small-business tax deductions on the table. According to online publication Small Business Trends , there are 10 key deductions entrepreneurs should not overlook. 1. Health Care Tax Credit If you provide insurance to your workers under ObamaCare, you may be eligible to claim a tax credit of up to 35 percent, if certain criteria are met. 2. Business Use of Personal Car Use your personal vehicle for business purposes?
March 14, 2013 |
A former IRS worker faces more than a dozen years in prison after a jury convicted her Wednesday of masterminding a scheme to collect thousands of dollars in refunds by filing bogus claims for tax credits. The jurors deliberated less than a day before finding Patricia Fountain, 35, guilty of conspiracy and tax fraud charges. They also convicted her boyfriend, Larry Ishmael, 40, and a third conspirator, Calvin Johnson Jr., on similar counts. All are Philadelphia residents. The weeklong trial before U.S. District Judge Stewart Dalzell showcased how an IRS insider used her own experience with the agency to exploit its vulnerabilities and rip it off for nearly five years.
February 12, 2013 |
There are many things to call Apple Inc. Maker of the iPhone, iPad, and other must-have products. The world's most innovative company, and the world's most valuable company (at times). Allow me to add to the list: "Major buyer of Pennsylvania tax credits. " The Cupertino, Calif.-based technology Goliath may have more cash than investor David Einhorn believes is prudent, but Apple isn't foolish when comes to taxes. Apple apparently is trying to reduce its tax liability in Pennsylvania by buying up tax credits from other companies here.
January 4, 2013 |
The extension of the federal wind-power tax credit as part of the fiscal cliff package was hailed as a victory Wednesday by renewable power advocates. But a Bucks County wind-turbine manufacturer, where much of the workforce was furloughed in September because of a slowdown in orders, is unlikely to ramp up production any time soon because of the last-minute congressional rescue of the tax credit. "I think it will take a little while for this to work its way to the manufacturing sector, but it will be a stimulus," said David J. Rosenberg, the vice president of marketing for Gamesa USA, the Spanish wind-turbine manufacturer with U.S. headquarters in Langhorne.
January 3, 2013 |
The extension of the federal wind-power tax credit as part of the fiscal cliff package was hailed as a victory Wednesday by renewable power advocates. But a Bucks County wind-turbine manufacturer, where much of the workforce was furloughed in September because of a slowdown in orders, is unlikely to ramp up production any time soon because of the last-minute Congressional rescue of the tax credit. "I think it will take a little while for this to work its way to the manufacturing sector, but it will be a stimulus," said David J. Rosenberg, the vice president of marketing for Gamesa USA, the Spanish wind-turbine manufacturer with U.S. headquarters in Langhorne.
December 18, 2012 |
TRENTON - The Assembly approved a slew of job-creation bills during its final voting session of the year. Republicans, the minority in both chambers, asked Democrats to consider working with them before pushing through the bills. "This bill has been vetoed by the governor already," said Minority Leader Jon Bramnick (R., Union). "Work with the governor instead of posting bills that have already been vetoed. " That's what Democrats are doing, said Majority Leader Lou Greenwald (D., Camden)
December 7, 2012
The latest reports on wind-generated electricity in Pennsylvania and New Jersey equate the clean-air impact to pulling thousands of cars off the road. That's certainly enough vehicles to assemble one impressive motorcade to Washington and lobby for congressional action on extending tax credits viewed as critical to expanding wind power. The smart, 20-year policy of providing a 2.2-cent-per-kilowatt-hour tax credit for electricity produced by large-scale wind turbines faces a year-end expiration deadline.
November 30, 2012 |
City Councilman James Kenney is to introduce legislation Thursday that would give a tax credit to employers who provide health-care benefits to same-sex partners, saying his bill would make Philadelphia, already a popular city for gays and lesbians to live, even more so. "A lot of changes we are making will make Philadelphia more attractive to LGBT people and make them want to settle here," Kenney said. "They are good job creators, good taxpayers, and good employees. " His legislation also would guarantee partners of lesbian, gay, bisexual, and transgender people the right to visit their loved ones in hospitals and make medical decisions for them.
November 1, 2012
HERE'S A LOOK at where the two presidential candidates stand on job creation: PRESIDENT OBAMA: Wants to spend $75 billion to build roads, bridges and schools, which would create construction jobs, and another $35 billion for states to keep teachers, police and firefighters employed. He would create a $4,000 tax credit for companies that hire workers who have been unemployed for at least six months, and would invest $2 billion in community colleges while seeking to create partnerships between the colleges and employers to train 2 million workers.