Congress Extends Wage Credit for Employees Who Are Active Duty Members of the Military
Posted by William Byrnes on February 10, 2011
A member of the U.S. military who takes a leave of absence from his private sector job in order to go on active duty will often face a pay cut—the differential between his military and private sector pay. Some employers make up this differential by paying employees who are on active duty a partial salary. Read this complete analysis of the impact at AdvisorFX (sign up for a free trial subscription with full access to all of the planning libraries and client presentations if you are not already a subscriber).
For previous coverage of the Tax Relief Act of 2010 in Advisor�s Journal, see Obama Tax Compromise Provides 100 Percent Bonus Depreciation of Business Assets Through 2011 (CC 11-01), Obama’s Social Security Tax Holiday: Penny Wise and Pound Foolish? (CC 10-119), Does the New Estate Tax Make the Bypass Trust Obsolete? (CC-10-122), and 2010 Estates: To Elect or Not to Elect (CC 10-124).
This entry was posted on February 10, 2011 at 05:55 and is filed under Tax Policy. Tagged: Active duty, Barack Obama, Federal Insurance Contributions Act tax, South Carolina, tax, TurboTax, United States, United States armed forces. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
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