Job growth picks up, but economy hampered by anemic wage increase

Economy
The economy keeps adding jobs, though wage growth remains slow.

October job figures released last week shows employment bouncing back after being battered by hurricanes this summer.

But the years-long trend of slow wage growth continues.

The Bureau of Labor Statistics figures show the economy added 261,000 jobs in October. The unemployment rate has fallen to 4.1 percent.

But hourly wages barely kept up with inflation, rising 2.4 percent during…

Continue reading »

Will tax cuts cost 401(k)s?

Taxes
Tax cuts could affect 401(k)s.

Republican leaders in Congress have yet to unveil their plan for cutting taxes. But one possible aspect is drawing plenty of attention—the possibility of shrinking the amount workers can contribute to 401(k) plans.

The New York Times reports:

Details of the Republican tax plan have not yet been released, but the talk has been of imposing a cap…

Continue reading »

If you don’t do this, the IRS will reject your tax return

IRS
The IRS has issued guidance that it is enforcing Obamacare’s individual mandate.

There’s plenty of uncertainty surrounding Obamacare. But one thing you can count on: The IRS will reject tax returns without health insurance disclosures.

The New York Times reports:

“In the latest signal that the Affordable Care Act is still law, the Internal Revenue Service said this week that it is taking steps to enforce the…

Continue reading »

IRS suspends Equifax contract

Tax form
The IRS temporarily suspended a contract with Equifax.

After heavy criticism from lawmakers, the IRS backed away from a contract with Equifax.

The IRS had awarded a $7.2 billion no-bid contract to the credit-tracking company to verify the identities of taxpayers creating accounts on the IRS website. It temporarily suspended that contract last week.

Lawmakers questioned the deal following the disastrous hacking of Equifax that compromised…

Continue reading »

Will tax cuts mean more automation?

Trump
Donald Trump is pushing a plan to cut corporate income taxes.

At least some hedge fund managers believe corporate tax cuts will boost automation.

With President Donald Trump and Republican leaders in Congress looking to slash corporate taxes as part of a broad tax code overhaul, investors are placing bets that corporations will spend some of their windfalls on automation, Reuters reports. David Randall of the news agency…

Continue reading »

Hurricanes prompt regulation relief

Hurricane Irma
Hurricanes Irma, Harvey and Maria prompted the SEC to provide regulatory relief to affected businesses.

The Securities Exchange Commission last week issued an order easing regulations on businesses affected by three hurricanes.

Hurricanes Harvey, Irma and Maria disrupted the normal flow of business, to say the least. So on Thursday, the SEC exempted some businesses affected by the storms from some requirements for a period following…

Continue reading »

Can You Pay Employee’s In Cryptocurrency?

paying employees in cryptocurrency paying employees in cryptocurrency Cryptocurrencies have marked their place in the economy, with investors banking early on forms like Bitcoin, and walking away with exponential growth to their investment. By what about paying employees in this form? “When a company first approaches its employees about paying them in cryptocurrencies, like Bitcoin and Ether, employees might be a bit apprehensive. It might take some good, old…

Continue reading »

10 States With The Highest Commercial Property Taxes

top 10 cities with highest commercial property taxes An annual report from Lincoln Institute of Land Policy and the Minnesota Center for Fiscal Excellence is pointing out the recent shift in property values and how it’s affecting taxes across all 50 states. So where are the 10 states with the highest commercial property taxes today? “Property taxes that are rebounding along with recovering property values should be no surprise to…

Continue reading »

Accounting Services Your Business Can Depend On

business services from sterling accounting Are you spending too much time keeping the books, and not focusing on growing your business? The financial team, at Sterling Tax & Accounting Services, with over 15 years experience is waiting to help you with:

Accounts Receivable, Accounts Payable, Accounts Reconciliation, QuickBooks® Set Up and Training, Small Business Payroll, Processing Small Business Quarterly Tax Reporting, Annual Government Filing, Financial Statements, and More!

Continue reading »

“Bill Nye the Science Guy” Takes On Disney Over Accounting And Profits

bill nye the science guy sues disney “Bill Nye the Science Guy” is taking the fight to Disney, according to Variety, claiming the media giant withheld $28 million in profit from the TV science host due to accounting mistakes…

“According to the lawsuit, Nye grew suspicious in 2008 when Disney told him he owed the studio almost $500,000 because of a whopping “accounting error.” The company…

Continue reading »