December 2011

Developments in Tax and Business

Home Ownership Still the American Dream

Almost three quarters (73%) of people who do not currently own a home say owning a home is one of their goals. Moreover, 75% of those polled said that owning a home is worth the risk of market fluctuations, according to a survey conducted by Public Opinion Strategies and Lake Research Partners on behalf of the National Association of Home Builders.

Benefits as a Percentage of Payroll Costs

How do your firm’s numbers compare to the national averages for wages and employee benefits? Employer costs for employee benefits provided to American workers in March 2011 averaged $9.15 per hour worked and accounted for 30.4% of total employee compensation costs, according to data released by the U.S. Department of Labor’s Bureau of Labor Statistics. Wages and salaries in 2011 averaged $20.91 per hour and accounted for 69.6% of total employee compensation. The data measured nonfarm private and state and local government workers.

Job Creation in Small Companies

Small companies have traditionally been the engine of job creation in the U.S. However, economic uncertainty is holding back many small employers from investing in new employees, according to a survey conducted by the U.S. Chamber of Commerce. The survey found that 79% of small employers surveyed said that taxation, regulation and legislation make it harder for them to increase hiring.