Strasburg Law - Timely Topics

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The Temporary Payroll Tax Cut Continuation Act of 2011: The Act temporarily extends the two percentage point payroll tax cut for employees, continuing the reduction in the Social Security tax withholding rate from 6.2 to 4.2 percent of wages paid through February 29, 2012. The law also includes a new "recapture" provision which applies to those employees who receive more than $18,350 in wages during the two month period. Note that $18,350 represents two months (1/6th) of the 2012 full year wage base of $110,100. The new provision imposes an additional income tax on higher income employees in an amount equal to 2 percent of the amount of wages received during the 2 month period in excess of $18,350.
2012 Standard Mileage Rates: The 2012 standard mileage rate for business miles driven is 55.5 cents per mile. The standard mileage rate for medical and moving expenses is 23 cents per mile. The standard mileage rate for charitable purposes is 14 cents per mile.
2011 Revised Standard Mileage Rates: For July through December, the 2011 standard mileage rate for business miles driven is 55.5 cents per mile. The standard mileage rate for medical and moving expenses is 23.5 cents per mile. The standard mileage rate for charitable purposes is 14 cents per mile. For January through June, the 2011 standard mileage rate for business miles driven is 51 cents per mile. The standard mileage rate for medical and moving expenses is 19 cents per mile. The standard mileage rate for charitable purposes is 14 cents per mile.
DirectWomen Board Institute: DirectWomen selected Sari Ann Strasburg for its Board Institute Class of 2009. She was chosen as 1 of 21 top women lawyers from across the country for the program, designed to identify and promote qualified women lawyers to serve on corporate boards of public companies. An initiative of the American Bar Association's Business Law Section and Catalyst, Inc., DirectWomen supports accomplished women lawyers for service on major U.S. corporate boards while also promoting the independence and diversity required for good corporate governance.