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Downloadable Federal
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Income Tax & Accounting Services for 
Maine Businesses
From manufacturers to farmers, doctors, pizza chefs, contractors to Innkeepers and professions in between, we're big on small business.
Maine businesses work when we work together. As a team, our financial team adds a strategic ear and reasoning voice to conversations held in order to set direction and take the actions necessary to help you achieve your personal and business goals. Meeting with clients at offices in Auburn and Norway, we also customize our services to meet client needs and hold meetings at their locations.
Payroll Tax Cut Extended
December 23, 2011 The Temporary Payroll Tax Cut Continuation Act of 2011 temporarily extends the payroll tax cut for employees, continuing the reduction of their social security tax withholding rate from 6.2 percent to 4.2 percent of wages paid through February 29, 2012.
The Act also includes a new “recapture” provision, which applies to those employees who receive more than $18,350 in wages during the two-month period (the social security wage base for 2012 is $110,100, and $18,350 represents two months of the full-year amount). This additional recapture tax is an add-on to income tax liability that the employee would otherwise pay for 2012 and is not subject to reduction by credits or deductions. The recapture tax would be payable in 2013 when the employee files his or her income tax return for the 2012 tax year.
