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On June 20th Governor Evers signed into law 2023 Wisconsin Act 12 (the “Act”), which repeals the personal property tax that has long been an administrative burden for authorities and a source of confusion for taxpayers.
Under the former provisions, both real and personal property was (and is until January 2024) subject to tax unless…
The following article by James N. Phillips appeared in the February 13, 2019 issue of the Business Law Section Blog of the State Bar of Wisconsin and is being reposted from that site with the permission of the author and the State Bar of Wisconsin.
Jim Phillips, Iowa 1979, is a shareholder in the…
Maybe its time for Americans to start taking sides on the issue of what their government ought to be spying on. While I have been no fan of Edward Snowden, I have also become no fan of the NSA. The longer this matter drags out, the more the NSA looks like it has become even…
PAYROLL TAX CUT EXTENSION PASSES
On February 22, 2012, the President signed into law the Middle Class Tax Relief and Job Creation Act. Under this new law, the payroll tax cut was extended until the December 31, 2012 which means that:
· For employees: the Social Security portion of the payroll tax will stay at…
On September 14, 2011 the IRS issued Notice 2011-72, intended to provide "guidance on the tax treatment of cellular telephones or other similar telecommunications equipment (hereinafter collectively ‘cell phones’) that employers provide to their employees primarily for non-compensatory business purposes."
The Notice states that when such a cell phone is provided to an employee primarily for non-compensatory business reasons, the IRS will treat use of the cell phone for reasons related to the business as a working fringe benefit, the value of which is excludable from the employee’s income.Continue Reading New IRS Notice on Tax Treatment of Employee Cell Phones
On December 17, 2010, President Obama signed into law the Tax Relief Act of 2010
…
Continue Reading President Signs Bill to Extend Bush Era Tax Cuts
My good friend, Ed DeFrance, at Baird, just sent me an article Baird puts out about the new health care law and a new tax which will affect high income filers. It seems that if you have household income over $250,000, starting in 2013, a new Medicare Tax of 3.8% will apply to interest, dividends, capital gains, rents and royalty income. This is in addition to