Sullivan & Company
50 Holden Street
Providence, RI 02908
Tel: 401.272.5600
Fax: 401.272.0952
News & Events
Economic Outlook Breakfast
June, 2010
Economist Paul Harrington from the Center for Labor Market Studies at Northeastern University and CCRI President and Higher Ed official Ray Di Pasquale relayed some compelling information about the challenges facing the young people who fuel our workforce at our June 29th event at the Squantum Association in East Providence.
Complete an EVENT EVALUATION.
Read the Providence Business News ARTICLE on the speakers' remarks.
Alert: Tax Incentives for Clients
May, 2010
The Patient Protection and Affordable Care Act (PPACA)
The Patient Protection and Affordable Care Act (PPACA), which was enacted March 23, 2010, affords a special tax credit for small businesses and tax-exempt organizations that provide health insurance coverage to their employees. Small businesses and tax-exempt organizations that pay at least half the cost of single coverage for their employees are eligible for the credit. For small businesses, the maximum credit is 35% of premiums paid in 2010. For tax-exempt organizations, the maximum credit is 25%. The credit is available to small businesses and tax-exempt organizations with fewer than 25 full-time equivalent (FTE) employees that pay wages averaging less than $50,000 per employee per year. Small businesses and tax-exempt organizations with 10 or fewer FTEs and paying average wages of $25,000 or less will receive the maximum credit. For tax-exempt organizations this is a refundable credit.
The Hiring Incentives to Restore Employment Act (HIRE)
On March 18, 2010, President Obama signed into law the Hiring Incentives to Restore Employment Act (HIRE Act). This act provides for both payroll tax forgiveness and an income tax credit for hiring certain “qualified employees”. Not-for-profit employers as well as for-profit employers are eligible for these tax savings. Employers who hire new employees after February 3, 2010 and before January 1, 2011 who have been unemployed for 60 days will receive an exemption from the employer’s share of the 6.2% Social Security tax for wages paid between March 19 and December 31, 2010. In addition, if that employee continues to be employed by the employer for a period of not less than 52 consecutive weeks, the employer may be eligible for a general business credit of the lesser of $1,000 or 6.2% of the salary paid to the employee.
For more information, please contact Tim Sullivan at tsullivan@SullivanCPA.com.
Lou Simon named to Board of Rhode Island Parent Information Network
May, 2010
Congratulations to Sullivan & Company's Lou Simon who was named to the Board of Directors of the Rhode Island Parent Information Network, whose mission is to inform, support, and empower parents, families, individuals, and family-serving professsionals who seek to become effective advocated for their families, children, and their communities. The organization serves more than 65,000 Rhode Islanders each year. Team Sullivan Turns Out For MS Walk
April, 2010
Our thirteen (and a half!) person team braved the rain and cold to walk in the annual MS Walk to benefit Multiple Sclerosis on Sunday, April 18th … only days after the April 15th tax filing deadline.
The team raised more than $2,000 in donations, which included individual fundraising from walkers, contributions from others at Sullivan & Company who did not walk and a firm-sponsored contribution. Pictured here are TEAM SULLIVAN walkers led by Kelly Burns (front center with red shirt). The teams' efforts were featured in the ProJo fitness blog and in a compelling story on Accounting Web.
Five Questions with Michael Hanna
February, 2010
Principal Michael Hanna talked to Providence Business News about tax provisions ending in 2009 and what might be on the horizon. Click here for article.
