We have been engaged in the banquet hospitality business for the past thirty-three years and have been using AmCheck as our payroll company the past seven years. We could not be more pleased with the quality of their services and/or their charges for the same. Delivery of the checks has always been totally on time just as they represented it would be even though our business was located in Massachusetts. Also, if you have occasion to have an issue come up, as we have had over the years, calling for any changes and/or adjustments to their services to better accommodate your payroll, you will be particularly grateful for using them. They respond and act quickly and often make suggestions which can much improve your end result. We have visited their offices and personally witnessed the technology they use to communicate with their clients to better solve any issues that may come up and it is nothing short of amazing. They are definitely a first rate company. Any business would be lucky to have them on their business team. - Jerry S
IRS Releases 2012 COLAs
- Published on Mon | 24 Oct 2011
Updates to inflation-adjusted tables, as reported by the IRS, note increases in standard deduction and retirement plan contributions, among other changes.
Here's a summary of the changes:
- Standard deduction:
- Married couples filing jointly or surviving spouses: $11,900 in 2012, up from $11,600 in 2011
- Heads of households: $8,700 in 2012, up from $8,500 in 2011
- Single taxpayers filing separately: $5,950 in 2012, up from $5,800 in 2011
- Transportation fringes: For employer-provided transportation fringle benefits, the following amounts may be excluded from gross income:
- $240/month for qualified parking (up from $230 in 2011)
- $125/month for any transit pass or transportation in a commuter highway vehicle
- Foreign earned income exclusion: Under IRC §911(b)(2)(D)(i), the maximum foreign earned income exclusion amount is $95,100 (up from $92,100 in 2011). For foreign housing cost exclusion, the maximum amount is $13,314 (up from $13,006 in 2011).