The latest cost-cutting move by the U.S. Postal Service could save it up to $500 million next year. USPS is offering workers $15,000 to quit. The incentive package, negotiated with unions, would give eligible employees $10,000 during the first quarter of fiscal year 2010, and another $5,000 during the first quarter of fiscal 2011.
Would you take that offer from your employer? Tell us!
Minimize or defer income taxes
I have a client that received a very large one time severance payment and payout of an unqualified long-term incentive plan upon termination of employment. Any suggestions on how to best minimize income taxes in 2009 or at least some deferral?
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I have been reading SOP 98-1 and it discusses capitalizing internal payroll for those employees working on certain phases of a software implementation. Can bonuses be capitalized if the base salary is being capitalized?
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Congratulations to our IPOD Shuffle winners from the Illinois CPA Society Accounting & Finance Showcase!
Lyday & Associates, LTD
Shawn S. Lazarian, CPA
Lazarian Financial Corp. CPAs
Linda Pezzullo, CPA
Jonlyn & Associates, Inc.
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