GEORGIA

BCG Systems, Inc., a NetSuite consultant and Microsoft certified partner headquartered in Akron, Ohio, has relocated its Atlanta office to: The Lenox Building - 3300 Lenox Road - Suite 400 - Atlanta, GA 30326

 

 

ILLINOIS

CCH, a Wolters Kluwer business, has issued a new Tax Briefing: American Taxpayer Relief Act, covering provisions of the new legislation.

 

The American Taxpayer Relief Act allows the Bush-era tax rates to sunset after 2012 for individuals with incomes over $400,000 and families with incomes over $450,000; permanently “patches” the alternative minimum tax; revives many now-expired tax extenders, including the research tax credit and the American Opportunity Tax Credit; and provides for a maximum estate tax of 40 percent with a $5 million exclusion. The Act also delays the mandatory across-the-board spending cuts known as sequestration. President Obama said that he will sign this legislation as soon as it reaches his desk.

 

Individuals with incomes above the $450,000/$400,000 thresholds will pay more in taxes in 2013 because of a higher 39.6-percent income tax rate and a 20 percent maximum capital gains tax. And, all taxpayers will find less in their paycheck in 2013 because of what the American Taxpayer Relief Act did not include: the new law effectively raises taxes for all wage earners (and those self-employed) by not extending the 2012 payroll tax holiday that had reduced OASDI taxes from 6.2 percent to 4.2 percent on earned income up to the Social Security wage base ($113,700 for 2013).   

NEW JERSEY

The Mironov Group LLC, based out of Edison, N.J., contributed 66 new winter coats for Project Sandy Clause – Coats for Kid drive. The firm donated the coats to young children who were affected by Hurricane Sandy. Half of the outerwear went to Lunch Break in Red Bank, N.J., while the remainder went to the Stephen Siller Tunnel to Towers Foundation in Staten Island, N.Y.

 

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