Corporate Tax Write-Offs

The following is a list of items that may be deductible by your

 corporation. This list is general in nature and you should always consult

a tax professional in regard to your specific situation.

·     Direct Pay

·     Bonus

·     Moving and Relocation costs

·     Placement fees

·     Travel Expenses

·     Paid Attendance at Professional Meetings

·     Financial Counseling

·     Legal Assistance

·     Tax Assistance

·     Business Related Education

·     Licensing

·     Charitable Donations

·     Matching Charitable Donations

·     Recreation/Gym Memberships

·     Professional Dues

·     Professional Memberships

·     Medical Reimbursement Plans

·     Outside Medical Services

·     Psychiatric Services

·     Corporate Medical Department

·     Company Provided Auto

·     •Company Provided Plane

·     •Company Provided Boat

·     Company Provided Apartment

·     Tickets to Theatre/Sporting Events

·     Home Entertainment Allowance

·     Social Club Memberships

·     Chauffer

·     Educational Assistance and Tuition Refunds

·     Scholarships for Dependents

·     Dependent Care Assistance

·     Long-term Care Insurance

·     Welfare Benefits

·     Disability Insurance

·     Pension Plans

·     Profit Sharing Plans

·     SEPs

·     Cellular Phone Costs

·     Office Equipment Purchases

 

 

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Federal Minimum Wage Information

New Federal Minimum Wage:

$5.85 – July 24th, 2007
$6.55 – July 24th, 2008
$7.25 – July 24th, 2009

State Minimum Wage

Note: The rates below are for general informational purposes only and should not be used as legal or professional advice. Please contact your local state agency for more information regarding your State Minimum Wage.

The rates below are for the July 2008 increase.

State	Minimum Wage	State	Minimum Wage
Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota* Mississippi Missouri	$6.55 $7.15 $6.90 $6.25 $8.00 $7.02 $7.65 $7.15 $7.55 $6.79 $6.55 $7.25 $6.55 $7.75 $6.55 $7.25 $6.55 $6.55 $6.55 $7.00 $6.55 $8.00 $7.40 $5.25 $6.55 $6.65	Montana Nebraska Nevada** New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania*** Puerto Rico Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming	$6.55 $6.55 $6.85 $7.25 $7.15 $6.50 $7.15 $6.55 $6.55 $7.00 $6.55 $7.95 $7.15 $6.55 $7.40 $6.55 $6.55 $5.85 $6.55 $6.55 $7.68 $6.55 $8.07 $7.25 $6.50 $6.55

*$5.25 rate are for companies w/less than $625,000 gross annual volume of sales or business. Businesses with more than $625,000 gross annual volume of sales or business will have a minimum wage rate of $6.15.
**$6.85 rate are for businesses that do not offer health insurance coverage to employees and $5.85 for businesses that offer health insurance.
***$6.65 rate are for businesses that employ less than 10 full-time employees.