This article from US News and World Report, just crossed by my twitter account today. Mostly the article is about your tax credit options from the 2009 small business stimulus bill (small business defined as 15 million or less) but there’s a mention of 2010 as well. In particular this:
Last week, the Senate passed a bill with a payroll tax holiday for business owners and their employees and an extension of a tax deduction on capital expenditures. The payroll tax holiday—dubbed the Hire Now Tax Cut—allows an employer to forgo payroll tax on any unemployed person hired by the firm this year.
I have noticed many of our clients starting to rehire, so don’t forget about this one. An opportunity to legally avoid payroll tax is one not to be missed.
Here’s the link to the whole article: http://www.usnews.com/money/business-economy/articles/2010/03/04/small-business-tax-breaks-in-2010.html
Here’s a decent link on the 2009 tax credits:
Remember, I’m just an IT person. See your CPA about this.