bake - April 2012 - 16

legislation

Compliance Advantages

At the beginning of 2011, President Obama’s health care reform went into action. Like all legislation, it will receive both support and criticism. But whether you like it or not, it is always in a business’ best interest to comply with the law.

If you are a small business with fewer than 25 full-time equivalent employees that earn an average wage of less than $50,000 a year, and you pay at least half of employee health insurance premiums, there is a tax credit that may put money in your pocket. According to the IRS, The Small Business Health Care

ADDITIONAL CHANGES TO CONSIDER BEFORE FILING
Due date of return. File your federal tax return by April 17, 2012. The due date is April 17, instead of April 15, because April 15 is a Sunday and April 16 is the Emancipation Day holiday in the District of Columbia. New forms. In most cases, you must report your capital gains and losses on the new Form 8949, Sales and Other Dispositions of Capital Assets. Then, you report certain totals from that form on Schedule D (Form 1040). If you had foreign financial assets in 2011, you may have to file the new Form 8938, Statement of Foreign Financial Assets, with your return. Standard mileage rates. The 2011 rates for mileage are different for Jan. 1–June 30 than for July 1–Dec. 31. For business use of your car, you can deduct 51¢ a mile for miles driven the first half of the year and 55.5¢ for the second half. Medical and moving mileage are both 19¢ per mile for the early half of the year and 23.5¢ in the latter half.
16 < APR 2012 | bakemag.com

Tax Credit is specifically targeted to help small businesses. The credit can enable small businesses to offer health insurance coverage for the first time. It also helps those already offering health insurance coverage to maintain the coverage they already have. Here is what small-busniess employers need to know so they don’t miss out on the credit for tax year 2011: • Qualifying businesses calculate the small business health care credit on Form 8941, Credit for Small Employer Health Insurance Premiums, and claim it as part of the general business credit on Form 3800, General Business Credit, which they would include with their tax return. • Businesses that couldn’t use the credit in 2011 may be eligible to claim it in future years. Eligible small-business employers can claim the credit for 2010 through 2013 and for two additional years beginning in 2014. For tax years 2010 to 2013, the maximum credit for eligible small-business employers is 35% of premiums paid. Beginning in 2014, the maximum credit will go up to 50% of qualifying premiums paid by eligible small-business employers.



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bake - April 2012

Table of Contents for the Digital Edition of bake - April 2012

bake - April 2012
Editorial - The pricing issue: Lessons from the City
Table of Contents
News Bites - Sprinkles Banks on Cupcake ATM
News Bites - Guild Offers Baking Series
News Bites - ADM Milling Names President
News Bites - Bruegger’s Lands in Pittsburgh
News Bites - DuPont Addresses Guar Shortage
News Bites - AIB Appoints Latin America Director
News Bites - Puratos Unveils New Website
Management - Employment Policies
Tax Tips - SIMPLE Retirement Planning
Labor Front - Staffing Shifts
Legislation - Compliance Advantages
Ingredients - Versatility of Honey
Price Puzzle
Maximum Management
Tiered Pricing
Choosing a Signature Item
Fabulous Flatbreads
Chain News
World-Class Distinction
Extreme Retail Cakes
Cost-Effective Production
Cafe - The French Connection
Products
Showcase
Classifieds
bake - April 2012 - bake - April 2012
bake - April 2012 - 2
bake - April 2012 - Editorial - The pricing issue: Lessons from the City
bake - April 2012 - 4
bake - April 2012 - Table of Contents
bake - April 2012 - News Bites - Bruegger’s Lands in Pittsburgh
bake - April 2012 - 7
bake - April 2012 - News Bites - Puratos Unveils New Website
bake - April 2012 - 9
bake - April 2012 - Management - Employment Policies
bake - April 2012 - 11
bake - April 2012 - Tax Tips - SIMPLE Retirement Planning
bake - April 2012 - Labor Front - Staffing Shifts
bake - April 2012 - 14
bake - April 2012 - 15
bake - April 2012 - Legislation - Compliance Advantages
bake - April 2012 - 17
bake - April 2012 - Ingredients - Versatility of Honey
bake - April 2012 - 19
bake - April 2012 - Price Puzzle
bake - April 2012 - 21
bake - April 2012 - 22
bake - April 2012 - 23
bake - April 2012 - 24
bake - April 2012 - 25
bake - April 2012 - 26
bake - April 2012 - Maximum Management
bake - April 2012 - 28
bake - April 2012 - 29
bake - April 2012 - 30
bake - April 2012 - Tiered Pricing
bake - April 2012 - 32
bake - April 2012 - 33
bake - April 2012 - Choosing a Signature Item
bake - April 2012 - 35
bake - April 2012 - 36
bake - April 2012 - 37
bake - April 2012 - Fabulous Flatbreads
bake - April 2012 - 39
bake - April 2012 - 40
bake - April 2012 - 41
bake - April 2012 - Chain News
bake - April 2012 - 43
bake - April 2012 - 44
bake - April 2012 - 45
bake - April 2012 - World-Class Distinction
bake - April 2012 - 47
bake - April 2012 - 48
bake - April 2012 - 49
bake - April 2012 - Extreme Retail Cakes
bake - April 2012 - 51
bake - April 2012 - 52
bake - April 2012 - 53
bake - April 2012 - Cost-Effective Production
bake - April 2012 - 55
bake - April 2012 - 56
bake - April 2012 - 57
bake - April 2012 - Cafe - The French Connection
bake - April 2012 - 59
bake - April 2012 - 60
bake - April 2012 - 61
bake - April 2012 - Products
bake - April 2012 - 63
bake - April 2012 - Showcase
bake - April 2012 - 65
bake - April 2012 - Classifieds
bake - April 2012 - 67
bake - April 2012 - 68
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