Federal Hiring Incentives Act

On March 18, 2010, President Obama signed the Hiring Incentives to Restore Employment Act of 2010 (HIRE) into law. If you hire someone who has been unemployed for 60 days or more, you do not have to pay the employees payroll tax (6.2 percent) from the date of hire for the balance of 2010. In addition, you can get a $1,000 tax credit for qualified employees you hire this year and remain employed at least 52 weeks.

Let's say you hire an unemployed person on April 1, you pay them a salary of $40,000 and they work for you at least one year. The new law will save you $1,860 on payroll tax plus allow a $1,000 income tax credit. It seems very unlikely that this would be enough incentive to hire that new employee unless you were going to make the hire anyway. A nice gift, but not much incentive.

For more information, click here to view a Special Special Report from the law firm Whyte Hirschboeck Dudek on this legislation.

Health Care Legislation

On March 21, 2010 the U.S. House of Representatives passed major health care reform legislation which is likely to affect every citizen and every employer in the country. The “Patient Protection and Affordable Care Act” (H.R. 3590) or (“PPACA”) is the same bill passed by the U.S. Senate on December 24, 2009. President Obama has already signed the bill into law and it now imposes significant changes to the entire health care industry.

Two of our largest Wisconsin based law firms, Michael Best and Friedrich and Whyte Hirschboeck Dudek are offering summaries of this important legislation to help us understand it. Click here to view the Michael Best and Friedrich summary and here to view a table from them listing the main features of the bill.

Whyte Hirschboeck Dudek is offering a free Webinar on April 20, 2010 titled "Health Care Reform: A Preliminary View of What It Means To Employers." Here's the link to register.

Sam Keller

To learn about me, go to my page on our TEC Midwest web site.