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All posts for the day January 25th, 2013

Infographic: How the Earned Income Tax Credit Helps Low-Income Working Families This Tax Season.

Posted by danetteoneal1 on January 25, 2013
Posted in: education, tax policy. Tagged: . Leave a comment

(From CAP: http://t.co/phAEZ6zY)
The earned income tax credit keep millions of working families from slipping into poverty each year, it also leads to positive outcomes for family health and student education. Earned income tax credit dollars benefit our economy, and most families who receive the credit end up paying billions of dollars more in net federal income tax than they receive in the earned income tax credit over time. With the 2012 tax season kicking off next week and today being Earned Income Tax Credit Awareness Day, now is the time to get the facts on one of the most important tax credits helping to ensure that work pays for working families.

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Kansas Drug Testing Next On The Docket Of ‘Ultraconservative’ Bills: DRUG TESTING FOR WELFARE RECIPIENTS MAY PASS IT YET ANOTHER STATE

Posted by danetteoneal1 on January 25, 2013
Posted in: politics, Public Policy. Leave a comment

Lawmakers seeking to abolish income taxes and stymie unions in Kansas think it might also be worthwhile to make the poor and unemployed pee in cups to prove they’re not wasting taxpayer money on drugs.

A favorite policy of Republican legislators across the country, the latest drug-testing proposal has gathered support from leaders of Kansas’s conservative-dominated statehouse. Kansas lawmakers say people who want unemployment insurance or Temporary Assistance for Needy Families benefits would have to undergo the testing, and if they are found to have drugs in their system would be required to receive treatment or have their benefits suspended.

“It adds credibility to the system,” state Rep. J.R. Claeys (R-Salina) told The Huffington Post. “People are putting their hard-earned tax dollars into the program to help folks and lift them out of poverty. It makes sense that they are drug-free or are going to rehab to become drug-free.
State Democrats are gearing up for a fight over the policy. State Rep. John Wilson (D-Lawrence) expressed concerns with the constitutionality of the proposal, noting that states that have implemented similar laws have not seen results.

“It’s an unfair assumption that anyone on welfare is untrustworthy,” Wilson told HuffPost. “There is no difference between welfare recipients and the general public when it comes to drug use. To assume those on welfare will do drugs is inappropriate.”
read more at: http://t.co/COT2XINB

When and when not to file a 1099

Posted by danetteoneal1 on January 25, 2013
Posted in: education, tax policy. Leave a comment

IRS Form 1099-MISC is an information return that tells the IRS and other government agencies that the person named in the form has received taxable payments during the year. It’s one of the IRS’s main weapons in fighting underreporting by the self-employed. The IRS may impose various monetary penalties if a hiring firm intentionally fails to file a Form 1099 when required.

When Form 1099-MISC must be filed
The basic rule is that you must file a 1099-MISC whenever you pay an unincorporated independent contractor — that is, an independent contractor who is a sole proprietor or member of a partnership or LLC — $600 or more in a year for work done in the course of your trade or business. (Inman 1/25/12).

Top 1.0 percent’s wage growth outpaces all others in recovery

Posted by danetteoneal1 on January 25, 2013
Posted in: Economy, education. Leave a comment

New data suggest that wage inequality has grown during the recovery from the Great Recession. The top 1.0 percent of earners’ wage growth from 2009 to 2011—8.2 percent—outpaced that of all other earners. In contrast, earnings of the bottom 90 percent fell 1.2 percent. In Earnings of the top 1.0 percent rebound strongly in the recovery, Economic Policy Institute President also find that despite having declined during the recession, by 2011 the top 1.0 percent’s share of total wages was restored to its 2004 level—and to a level far higher than in 1979.

Facts for my associates in Real Estate: The White House

Posted by danetteoneal1 on January 25, 2013
Posted in: education. Leave a comment

The White House is the official residence and principal workplace of the President of the United States.
Construction started: 1792
Floors: 6
Address: 1600 Pennsylvania Avenue NW, Washington, D.C., Washington, D.C., 20500, Northwest, Washington, D.C.
Architectural styles: Neoclassicism, Palladian architecture, Neoclassical architecture
Artwork: The Avenue in the Rain, Nocturne
Architect: James Hoban