Resources
2009 and 2010 Tax-related requirements (click on the links for a complete description)
Find out whether your business is eligible for 2010 Healthcare Tax Credit with the following worksheet.
http://www.alicecpa.com/healthcaretaxcredit.xls
For more detailed information about 2010 Healthcare Tax Credit, refer to the following link.
http://www.irs.gov/newsroom/article/0,,id=223666,00.html
Standard business mileage rate is 55 cents/mile for 2009, and 50 cents/mile for 2010.
http://www.irs.gov/taxpros/article/0,,id=156624,00.html
401k maximum employee contribution is $ 16,500 for both 2009 and 2010 (+ $ 5,500 catch-up contribution for age 50 and over); combined employee/employer contribution limit is $ 49,000.
http://www.irs.gov/retirement/participant/article/0,,id=151786,00.html
SIMPLE IRA maximum employee contribution is $ 11,500 for both 2009 and 2010 (+ $ 2,500 catch-up contribution for age 50 and over).
http://www.irs.gov/retirement/article/0,,id=137830,00.html
Roth IRA accounts can be opened in addition to retirement plans if you meet the criteria described on the following link. Contributions to all IRA and retirement plans for the working year can be made at any time during the year up to the filing date of your return, or April 15th of the following year.
http://www.irs.gov/formspubs/article/0,,id=177966,00.html
Domestic Production Activity Deduction percentage is 6% for 2009 and 9% for 2010.
http://www.irs.gov/formspubs/article/0,,id=177957,00.html
Section 179 expense deduction is $ 250,000 for 2009.
http://www.irs.gov/formspubs/article/0,,id=177054,00.html
Social security wage base limit is $ 106,800 for both 2009 and 2010.
See page 2 on the following link.
http://www.irs.gov/pub/irs-pdf/p15.pdf
W-2 forms must be furnished to employees by 1/31/2010; 1099 Misc forms to vendors by 1/31/2010. However, W-2/W-3 and 1099 Misc/1096 must be filed with the Social Security Administration and to IRS respectively by 2/28/2010 (if electronically filing, the due date is extended to 3/31/2010).
http://www.irs.gov/pub/irs-pdf/p15.pdf