Tax Pro Plus
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Los Angeles, CA 90064
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Dear Valued Client,
This newsletter discusses many topics, including changes made by the recently enacted Health Care Act. Each month's edition provides you with the latest news and some helpful tips that can save you money.
This office can assist you with your tax planning needs throughout the year. Call for any questions or to make an appointment.
Tax Pro Plus
This newsletter discusses many topics, including changes made by the recently enacted Health Care Act. Each month's edition provides you with the latest news and some helpful tips that can save you money.
This office can assist you with your tax planning needs throughout the year. Call for any questions or to make an appointment.
Tax Pro Plus
Don't Wait Too Long to File Your Income Tax Return!
If you have been procrastinating about filing your 2009 tax return or have other prior year returns that have not been filed, you should consider the consequences.
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Final Year for the American Opportunity Education Credit?
Without Congressional intervention, 2010 is the final year for the American Opportunity credit, which is a modified version of the Hope Education credit for tax years 2009 and 2010. The American Opportunity credit is available to a broader range of taxpayers with expanded income limitations and a more liberal list of qualified expenses than was the Hope credit. Many of those eligible will qualify for the maximum annual tax credit of $2,500 per student.
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Audit Techniques Guide Provided By the IRS
The IRS recently posted an Audit Techniques Guide (ATG) to provide its agents with guidance when auditing cash intensive businesses. The following are some excerpts from the guide that points up the importance of maintaining detailed records for your business, especially one that is cash intensive.
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Can a Spouse Qualify for HIRE Act Benefits?
Under the recently enacted HIRE Act, the following benefits are derived from hiring previously unemployed workers.
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Hiring Summer Employees? QuickBooks Can Track Their Time
QuickBooks offers capable tools for tracking the items you sell, but it’s also quite a competent time-tracker. If you pay employees based on the hours they work, QuickBooks can ease your bookkeeping burden. Tracked time can flow to both invoices and payroll, helping you pay employees and collect on services provided to customers.
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Are Capital Gains Being Raised in 2011?
Congress lowered the capital gains rates for 2003 through 2010 and they have not shown any inclination to extend the lower rates past 2010. Therefore, unless Congress acts, the rates automatically return to the pre-2003 levels of 10% (up from the current 0%) for those in the 15% or less bracket and 20% (up from 15%) for everyone else. If you have capital gains, you may wish to consider whether or not to take them in 2010 while the rates are still low.
The Tax Pro Plus newsletter is available via e-mail on a free subscription basis. You can subscribe or unsubscribe at any time. For more information about - Tax Pro Plus, go to http://www.taxproplus-la.com. This message was sent using ClientWhys Persyst. View our permission marketing policy.
Disclaimer: The tax advice included in this newsletter is an overview of some complex tax rules and is not intended as a thorough in-depth analysis of the tax issues discussed. Do not act on the information included in this newsletter without first determining how these issues apply to your particular set of circumstances and if there are any special tax laws or regulations that might apply to your situation.
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