As you've probably heard by now the Bush era tax cuts and unemployment benefits have been extended and then some.  As part of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act, the 2011 payroll tax withholding tables reflect not only the continuation of the lower tax rates enacted back in 2001 but also a lower Social Security tax rate for employees (4.2%). 

In view of these changes employers will need to make sure that their first payrolls in 2011 have the correct
 tax tables and reflect the lower Social Security tax rate.  The new tables are now available from the IRS so the updates from your payroll software providers will soon be available.  You'll want to get the updates as soon as possible to avoid having to make adjustments later.  For companies that use a payroll service presumable these updates will be implemented by the first 2011 payroll.  If you do your payroll in-house the tax tables software updates are usually available shortly after year end.  The Social Security tax rate update is probably the most important update to make because this will be the hardest thing to correct if you over withhold ie use 6.2% vs. the new 4.2% rate.  This change, depending on the payroll software, can be made manually if you do not have the software updates in time.

The making work pay credit expires at the end of 2010 so even though the Bush era tax rates were extended the tax table will change because this credit expired.  The option of receiving advance earned income credit payments also expires at the end of 2010.

Contact me should you need assistance getting your payroll system ready for the new year.

Andrew J. Jordan, CPA
248-514-6213

REUSE PROJECT 4: REUSE & RESIST! Open Call For Art!!, originally uploaded by ! INSPIRE ONE !.

http://www.reuseandresist.tk/

Tel Aviv Street Art / Graffiti, originally uploaded by ! INSPIRE ONE !.

Studio Homebrand is proud to host:

Lucca Di Maggio - "Canvas? Maybe one day…"

The usage of the street as his work space grants Di Maggio access to a ongoing dialogue with the many passers-by in the streets of New York, Tel-Aviv and Milan. Di Maggio has been "painting in the streets" and meddling with public spaces way before street art (Graffiti) became a legitimate form of expression and dialogue.

The overwhelming of urban spaces by massive billboard plastered with large varieties of ever changing commercial media has brought Di Maggio to the process of "selective curatorship" which takes place outside the conventional galleries and enables him to use massive billboards as his own personal canvases. The Artist was the first to use this technique despite the big downside of using billboards with a high turnover of advertisements and so a painting he worked on for six days maybe taken down after just a couple of days.

On his arrival to Tel-Aviv as a guest of "Inspirational Art Festival" Di
Maggio abandon the massive billboards, turned to the walls of the streets and used them as canvases for his strong figurative and timeless art. The current exhibition is the highlight of the city's inspirations.

Lucca Di Maggio was born in Milan, Italy, 1977. He graduated law school (University of Milan) and graphic design from the "European Institute of Design" also in Milan. Di Maggio held shows in New York, Milan and Vienna among them in Castiel Gallery for Friends of TA Art Museum (TA, 2010) "The Underbelly project" (NY 2010) and the Tel Aviv Biennale (2010).

The exhibition will take place in December 18th, 18:00, 13 Hamehoga st, in Florentine, near Comfort 13 in S. Tel Aviv.

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For further information please contact Gil Sagiv- 0544-6639004

Tax planning is squeezed as Washington nears a deal
A tax compromise worked out between the White House and Republicans could turn a lot of year-end tax planning on its head, according to a Reuters blog post. With taxes lower than expected, an advantage from deferring deductions and accelerating income would disappear.
There would no longer be any incentive to sell investments in 2010 in order to lock in a lower capital-gains tax rate because the rate would not change Jan. 1. Reuters/Deep Pocket blog (12/6) , Forbes/Estate of Confusion blog (12/6).

The above is the latest information from the AICPA news service regarding the state of year end tax planning. Click on the title to read the full article.  As you've probably heard on the news it looks like the Bush tax cuts will be extended for all taxpayers.  If capital gains rates do not increase as was expected, then there is no tax incentive to sell appreciated investments in 2010 to take advantage of a lower tax rate as mentioned in my previous blog.  

Tax planning has been more difficult than ever this year.  It's not certain how the whole tax debate will shake-out.  I imagine there will be a lot of people waiting until the last minute this year before they make any major year end tax planning moves.  If you need assistance deciding on how you should arrange your financial affairs in ways that postpone or avoid taxes please contact me.  I will be watching the tax debate closely so you can also contact me for further updates between now and the end of the year. 

Andrew Jordan, CPA
 248-514-6213.

REUSE PROJECT 4: REUSE & RESIST! Open Call For Art!!, originally uploaded by ! INSPIRE ONE !.

REUSE PROJECT 4: REUSE & RESIST! Open Call For Art until Feb. 1st! www.reuseandresist.tk

What is the ReUse Project? Every year, for the past 4 years, INSPIRE Collective has made a call for art, taken a centralized public building, and installed as much artwork inside & outside as possible, then we open the doors to the public!
Want to get involved this time around? Just keep reading…

There is a better way, no matter what they say! Present-day cities, the world over, have massive percentages of un-used & generally neglected public space. By itself, this fact quickly becomes its own negative social issue & it isn’t a phenomenon, it’s a disgusting norm of all industrialized cities at this point. WE MUST REUSE AND RESIST!!
But how?! Many social issues could be already solved by ReUsing & re-thinking public space. This year, let’s stop talking about it and started getting things done!

INSPIRE Collective would like to extend this call for art around the world, so if you know folks who would like to get involved…We extend the invitation to all creators to participate in ReUse Project 4: REUSE AND RESIST!

If you’re a conscious artist living on this planet and you can creatively relate to the ideas of ReThinking and ReUsing, then this exhibition is for you! Help us to make a positive social statement here in the Middle East & sustainable, independent artists will help to make this necessary statement world-wide. Open call for art ends February 1st.
For participation inquiries, entry submissions, call for art info, etc., please visit:
www.reuseandresist.tk
Also, for INSPIRE Collective past events and more: www.inspirecollectiveevents.tk

Remember, the open call for art ends February 1st.

Mail to:

ITW
P.O. Box 4917
Tel Aviv, Israel
61049