Financial Tidbits 01/21/2013

 

Tax

Tax (Photo credit: 401(K) 2013)

The Federal income tax began 100 years ago this year (1861), when Abraham Lincoln needed money for the Civil War. This first tax of 3% lasted until 1866 when it was repealed by Congress. Then, in 1894, Congress tried to bring back the tax, only to have the Supreme Court rule it was unconstitutional. After a constitutional amendment, it was finally made final. Things sure have changed from those early days when the tax code was only 38 pages (it is now about 74,000 pages long).

The IRS reports 80% of all tax returns are now filed electronically.

A survey from ADP finds about 50% of part-time workers who are eligible for health care benefits through their job actually enroll. Overall, part-time workers represent 23% of the total workforce.

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Branch Manager that has worked in the small to medium sized business lending field. I have experience in all types commercial lending and I'm here to provide insights from a lender's point of view. I hope to impart some knowledge that can take your business or profession to the next level. I currently work as a Branch Manager at the 10th & Bannock Office for Banner Bank in Boise, Idaho.

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Posted in Employees, Insurance, Money, Tax Returns, Taxes
One comment on “Financial Tidbits 01/21/2013
  1. Roger says:

    Learned something new, I was under the impression that we had no federal income tax until Woodrow Wilson asked for one.

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