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HIRE Act of 2010
On March 18, 2010, President Obama signed the Hiring
Incentives to Restore Employment Act (HIRE).
The HIRE Act provides tax breaks to employers who
hire and retain qualified employees, strengthens foreign
account tax compliance, and extends the Section 179
depreciation deduction to $250,000 with a phase-out when
expenditures exceed $800,000. The higher
level deduction of 50% bonus depreciation expired at the end
of 2009.
The HIRE Act contains two important hiring incentives in
order to stimulate employment. The first
is a payroll tax exemption in which employers do not have to
pay the employer’s share of Social Security payroll tax
(6.2%) for “qualified employees” wages between March 19,
2010 and December 31, 2010. The HIRE Act defines a qualified
employee as any person who:
- Begins work for the employer after
February 3, 2010 and before January 1, 2011,
- Certifies by signed affidavit, under
penalties of perjury, that such person has
not been employed for more than 40 hours
during the 60 day period ending on the date
the employment begins,
- Is not employed to replace another
employee of such employer unless such other
employee has separated from employment
voluntarily or for cause, and
- Is not related to the employer.
. . . read more HERE
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Fraud prevention front and center in
Ohio
Have you been a victim of financial fraud?
Report it using a new real-time alert system from
the Better Business Bureau (BBB) and Ohio's Attorney
General Richard Cordray.
Cordray's office, along with the BBB, launched a
Scam Alert Widget that provides a real-time early
warning when questionable tactics begin to appear.
"We hope Ohioans will use this tool to report or ask
about tactics that could be scams when they aren't
sure," Cordray said. "The new tool also
provides an effective way to track financial
predators and then use the state's robust consumer
laws to stop them."
The widget publishes breaking news on scams that are
reported to the Help Center. Businesses can
either embed the tool on their site or link to if
from their social networking profiles to avoid
emerging scams, report a scam or make others aware
of potential scams.
A report from the FBI and the Internet Crime
Complaint Center ranked Ohio eighth in the total
number of individual complaints made for Internet
fraud.
Find the real- time scam alert widget at:
www.OhioAttorneyGeneral.gov/ScamAlertWidget.
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