Many of you may not know what the congressional “Super Committee” is. Because politics in America appears to be broken so you’ve lost interest, or you simply don’t believe that it’s helping you in your everyday life. But I can hurt! The panel of 6 Republicans and 6 Democrats tasked with cutting 1.2 trillion from the deficit has chosen to punt. Through all the political posturing what has been lost is a solution to the $100 billion tax increase scheduled to hit American workers on January 1. The 2% payroll tax holiday enacted last year is due to lapse and individual will see an instant increase of on average $35 per check. Happy new year from Congress!
Dedicated Accounting is a bookkeeping and tax service for individuals and small businesses in Waseca and New Richland Minnesota. I hope this blog will address topic for small business bookkeeping and taxes, as well as anything else I find interesting.
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