Time is running out to take advantage of tax deductions. For example there may be as much as a $9,600.00 deduction if you hire a veteran before the end of the year. There could be a lot more, too. As with all accounting and tax matters, be sure to discuss them with your CPA.
In getting ready for next year, maybe you should consider offering fringe benefits instead of pay raises to help reduce your tax burden. Also be sure to ask employees to review their exemptions and complete new W4 Forms which will be required Feb. 18, 2013.
Of course this all depends on us still being here for next year. Read the blog I'll post on Friday the 21st of December for more information.
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