Bad Sign: Over 1 Million Employers Owe in Payroll Taxes

With it being tax season, I figured I’d check on how business is faring in keeping up on payroll tax submission. Continue reading →

Thanks Obama: 90% of physicians plan to cut medicare patients

New government regulations via Obamacare are making independent physicians adjust their patient volume by not taking Medicare patients according to a new study. Continue reading →

Obama’s overtime pay rule will cost Purdue $7-9 Million annually

President Obama executive order issuing new overtime pay will have a big financial impact. Continue reading →

Federal Government Deficit for 2015 Fiscal Year

government
CNSNews.com is reporting the federal governments 2015 first two fiscal months of tax revenue collected and how much it spent.

The U.S. Treasury continued to rake in tax dollars at a record rate in November as the federal government closed out the first two months of fiscal 2015 with $404,155,000,000 in total receipts, according to the Monthly Treasury Statement released today.
Even with these record revenues, the Treasury ran a deficit of $178.531 billion deficit in October and November as it spent $582.686 billion.

What were the sources of revenue?

The biggest source for the record federal revenue during the two-month period was the individual income tax. It brought in $192,619,000,000 in October and November. The second biggest source was “Social Insurance and Retirement Receipts,” the taxes Americans pay for Social Security and Medicare. These brought in $146,263,000,000.