Tax Pro Plus
2999 Overland Ave.
Suite 204
Los Angeles, CA 90064
Map It!
Ph: (310) 827-4829
Fax: (310) 842-7160
info@taxproplus-la.com
Dear Valued Client,
Tax Pro Plus
As we enter the new year, there are many challenges that lie ahead. With the economic crisis still in full swing and financial rescue plans being put in place, there are many changes yet to come.
Rest-assured that you will be notified of any changes that may affect your taxes. Please call this office if you need help in preparing for your tax appointment.
We look forward to helping you with your tax needs this season. Enjoy the new year.
Tax Pro Plus
IRS Expects the Rebate Amount on 2008 Returns
The Stimulus Rebate payment that was issued by the Treasury Department earlier this year was actually an advance payment of a new credit called the Recovery Rebate Credit on your 2008 tax return. This credit can be as much as $600 for single taxpayers and $1,200 for joint return filers plus $300 for each qualifying child. Congress required the IRS to use a taxpayer’s 2007 tax return information to estimate the credit and issue the advance payment to stimulate the economy.
Read the article »
 Print-Friendly | Send to Friend | Ask a Question |
Paying Off Debt the Smart Way
Being in debt isn't necessarily a terrible thing. Most people are, between mortgages, car loans, credit cards and student loans. Being debt-free should always be a goal, but you should focus on the management of it, not the presence of it. It will likely be there for most of your life, and if you handle it wisely, it won't feel so much like an albatross around your neck.
Read the article »
| Print-Friendly | Send to Friend | Ask a Question |
Required Minimum Distributions Suspended for 2009
A new law passed late in 2008 allows taxpayers age 70-½ and over and those who have inherited IRAs (beneficiaries) to forego their required minimum distribution (RMD) from 401(k) plans, IRAs, and similar retirement arrangements for 2009.
Read the article »
| Print-Friendly | Send to Friend | Ask a Question |
IRS Announces 2009 Standard Mileage Rates
The IRS has issued the 2009 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
Read the article »
| Print-Friendly | Send to Friend | Ask a Question |
How the Financial Rescue Plan May Affect You
The financial rescue plans and bail-out measure being taken by the government will have far-reaching effects on everyone. The underlying financial situation that prompted these rescues will have even more of an impact.
Read the article »
| Print-Friendly | Send to Friend | Ask a Question |
Business Changes for 2009
Over the past several months, Congress has been enacting legislation to stabilize the economy. At the urging of the incoming administration, Congress is working on yet another stimulus plan. As they make temporary changes to the tax code and extend expiring provisions, and with the phase-in phase-out provisions of earlier legislation, it becomes more difficult to keep track of what does and does not apply for the 2009 year.
Read the article »
| Print-Friendly | Send to Friend | Ask a Question |
Personal Use of Employer-Provided Vehicles
One of the most common fringe benefits provided to employees is the use of a company-owned or leased vehicle. The personal use of an employer-provided vehicle by law is designated as a fringe benefit and, generally, fringe benefits are taxable unless specifically excluded by law. As such, taxable fringe benefits are subject to employment taxes and are includible in the employee’s Form W-2, Wage and Tax Statement. There are special rules to withhold, deposit and report the employment taxes on these benefits.
Read the article »
| Print-Friendly | Send to Friend | Ask a Question |
Non-Itemizers Get a Real Property Tax Deduction
New for 2008 and 2009, taxpayers who do not itemize can add to their standard deduction the cost of their real property taxes, not to exceed $500 ($1,000 for joint filing taxpayers).
Read the article »
| Print-Friendly | Send to Friend | Ask a Question |
Smart Ways to Raise Cash in an Emergency
Even the most cautious people can encounter a financial emergency and will need cash fast to deal with it. Unexpected auto and home repairs, health emergencies, and work layoffs are common situations that can occur.
Read the article »
| Print-Friendly | Send to Friend | Ask a Question |
7 Ways to Use QuickBooks to Manage Collections
In these trying economic times, it’s more important than ever to keep a close rein on your accounts receivable. Seemingly no one is immune to sudden changes in financial circumstances, so be sure to monitor your outstanding invoices closely.
Read the article »
| Print-Friendly | Send to Friend | Ask a Question |
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.
  |
|  |