New hires complete new Form W-11 to qualify employers for HIRE Act tax breaks

IRS has released Form W-11, Hiring Incentives to Restore Employment (HIRE) Act Employee Affidavit. Newly hired, but formerly unemployed, workers must sign this form (or its equivalent) in order for their new employers to qualify for a payroll tax holiday and possibly an up-to-$1,000 credit under the HIRE Act ( P.L. 111-147 ). DDIFO Members read more…

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HIRE Act Aims to Encourage Immediate Hiring with Tax Credits

The President recently signed into law the “Hiring Incentives to Restore Employment Act of 2010” (the HIRE Act, P. L. 111-47, 03/18/2010). The centerpiece of this Act is a payroll tax holiday and up-to-$1,000 tax credit for businesses that hire unemployed workers. In addition to these new hiring incentives, the HIRE Act also includes a one-year extension of the enhanced small business expensing option under Code Sec. 179 . Both of these provisions are extremely important to many businesses. DDIFO Members read more…

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State of Massachusetts Institutes a Tax Amnesty Program for a Limited Time

The Massachusetts Commissioner of Revenue has established a 2-month amnesty period starting April 1, 2010 until June 1, 2010 applicable for tax periods ending on or before December 31, 2009 that is limited to sales-use taxes, withholding taxes, and certain business tax liabilities. Submitted by Jim Ventriglia, MST, CPA. DDIFO Members Read More…

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Brewing Up Campaign Cash

Livia Gershon writes in the Worcester Business Journal that in 2004, the state passed a law that kept restaurant staff with managerial responsibilities from being part of any tip pool.

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Indy Joe: What Tax Changes for 2009 Should I be Aware of?

Today’s Question is: What Tax Changes for 2009 Should I be Aware of? Today’s Answer is submitted by: Jim Ventriglia of James P. Ventriglia, CPA, Inc. or Cranston, RI. James P Ventriglia, MST, CPA, is DDIFO’s CPA and has been servicingthe accounting needs of Dunkin’ Donuts franchisees for decades. Contact him at jimv@jpvcpa.com or at 401-942-0008.

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Save BIG and Boost Cash Flow with Cost Segregation

With tax season upon us, Dunkin’ Donuts franchise owners might be interested to know about noteworthy tax-saving strategies. Enter: cost segregation which, depending largely on the scope of a franchisee’s holdings and investments, can yield upwards of $1 million in additional tax deductions. DDIFO Members Only Restricted Content.

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Mass Roundup: Budget off $3 Billion

Nancy Reardon of the Patriot Ledger reports that the outlook for next year’s state budget is a bit rosier than state leaders expected, but the chances of a full recovery anytime soon are dim.

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DDIFO Eying Opportunities on Capitol Hill

On February 3-4, 2010 DDIFO Legislative Affairs Coordinator Rob Branca will be in Washington representing the DDIFO at the second annual CFA Day (Coalition of Franchisee Associations). “I’m really looking forward to getting together with other operators from other franchise systems and with our elected officials and their staffs to discuss important legislation,” said Branca. “It’s important that we bring our perspective to these folks and discuss how new laws and reforms will impact our businesses.”

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Chamber of Commerce Says Private Sector, Not Government, Will Create Jobs

Penny Starr reports at CNSNews.com that Tom Donohue, president of the U.S. Chamber of Commerce, said at the organization’s headquarters in Washington, D.C., on Wednesday that Americans and not the government are the answer to the country’s economic woes. At an event Wednesday to launch its ‘Dream Big’ campaign to promote the American free enterprise system, U.S. Chamber of Commerce President Tom Donohue said that people, not government, will create the jobs needed for economic recovery.

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