Wednesday, January 2, 2013
A summary of the deal reached as the House approves the Senate-passed package in a late-night vote of 257 to 167.
In the wee hours of January 1, 2013, Senate leaders reached agreement on legislation designed to avert the so-called "fiscal cliff." That agreement has now been approved by the House by a 257 to 167 vote. According to The Washington Post the measure "would let the top tax rate rise immediately from 35 percent to 39.6 percent on income over $450,000 for married couples and $400,000 for single people." Although the bill passed will protect middle income families from an increase in income taxes, the legislation passed Tuesday night will not stave off an increase in payroll taxes. A 2 percent payroll tax cut passed during the economic downturn expired Dec. 31. According to Bloomberg the average increase would be $1,635. The increase will …
Monday, December 31, 2012
In the short term, employees may not see much of an impact but a bigger hit could come down the road.
If the country goes over the "fiscal cliff," how will your paycheck be affected? With just one day to go before fiscal cliff deadline, employees and employers are left to wonder what impact the lack of a tax legislation agreement between the White House and Congress will have. Employees will notice an immediate reduction in take home pay due to the expiration of the 4.2 percent Social Security tax rate on Dec. 31. The tax rate will revert to 6.2 percent in 2013. Other changes may not be noticeable for a few weeks. In the short term, the IRS will allow employers to continue withholding at the 2012 rates. However, should those rates change due to a failure in negotiations in Washington, any deficit in collection will be made up later in the …
Thursday, December 27, 2012
The two companies have joined forces to urge Congress to “Come Together” before tax hikes and spending cuts push America over the “fiscal cliff.”
On any given day, Midtown and Washington, D.C., might seem like they’re a million miles apart. Today is not one of those days. As Congress and President Barack Obama attempt to hash out differences to stop America from falling over the “Fiscal Cliff,” Patch and Starbucks are teaming up to urge Republicans and Democrats to “come together.” The two companies are working together to make sure Congress gets the message America wants a viable solution to the country’s financial woes. Midtown has several Starbucks locations including: 867 Peachtree Street; 21 14th Street; 931 Monroe Drive; and 1544 Piedmont Avenue. The so-called Fiscal Cliff encompasses all of the budget cuts and tax hikes that will automatically kick in if Congress doesn’t …
Friday, December 14, 2012
Even the worst case scenario, which Cassidy Turley predicts at 30 percent probable, will not technically push metro Atlanta back into recession, but it will have an adverse impact.
Friday, December 14, 2012
National commercial real estate services provider Cassidy Turley on Friday released research examining the impending “fiscal cliff’s” impact on commercial real estate markets across the country, including metro Atlanta. The company's Atlanta office is based in Midtown. The fiscal cliff refers to the combination of tax increases and spending cuts that will take effect in January 2013, assuming no change to the current law. Economists’ general consensus is that if the fiscal cliff is allowed to occur, the U.S. economy will slide back into recession in the first half of 2013. Cassidy Turley’s report summarizes the various scenarios related to fiscal policy and then draws the link to commercial real estate. For metro Atlanta, military …