by | Feb 13, 2010 | Income Taxes, Tax Tip of The Week
In 2009, you can deduct the state or local sales and excise taxes imposed on the purchase of a qualified motor vehicle after February 16, 2009, and before January 1, 2010. A qualified motor vehicle includes a passenger automobile, light truck, or...
by | Feb 4, 2010 | Current Affairs, Small Business Owners, Tax Tip of The Week
With the unemployment rate stuck at ten percent and looking more and more likely to stay there for the foreseeable future – employers are about to be shocked at how much they will have to fork over for state unemployment tax. My rate has tripled even though we have...
by | Jan 30, 2010 | Current Affairs, Income Taxes, Tax Tip of The Week
Many of our clients have asked about how the “Making Work Pay Tax Credit” is going to affect their 2009 income taxes. This credit actually took effect in 2009. The federal tax withholding table was changed to slightly increase your paycheck every pay...
by | Jan 22, 2010 | Accounting & Bookkeeping, Current Affairs, Income Taxes, Small Business Owners, Tax Tip of The Week
The new "Worker, Homeownership and Business Assistance Act of 2009" extends and expands the tax break for net operating losses (NOLs) created by the 2009 economic stimulus law. What's more, some business owners may be able to realize a double tax...
by | Jan 15, 2010 | Accounting & Bookkeeping, Cash Flow, Current Affairs, Income Taxes, Tax Tip of The Week
Keeping detailed records of employee travel expenses is a hassle. But there's a way your business can simplify matters without any tax downside: Use the IRS-approved "per diem rates. This way, employees don't have to account for every last cup of coffee...
by | Jan 8, 2010 | Current Affairs, Income Taxes, Personal financial planning, Tax Tip of The Week
The "first-time homebuyer credit" isn't just for first-time homebuyers anymore. Thanks to a new tax law change, longtime homeowners may also qualify. Under the new "Worker, Homeownership and Business Assistance Act of 2009," you...
