Tax Pro Plus
2999 Overland Ave.
Suite 204
Los Angeles, CA 90064
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Ph: (310) 827-4829
Fax: (310) 842-7160
info@taxproplus-la.com
Dear Valued Client,
Thank you for allowing this office to serve you this tax season. Keep in mind that you can make an appointment throughout the year for other services that you may need.
Your continued patronage is greatly appreciated.
Tax Pro Plus
Thank you for allowing this office to serve you this tax season. Keep in mind that you can make an appointment throughout the year for other services that you may need.
Your continued patronage is greatly appreciated.
Tax Pro Plus
What Are the Chances of Being Audited?
Each year, the IRS releases a publication entitled the “Data Book.” The 2010 version of the book was released in early March, which provides statistical data on its fiscal year (FY) 2010 audit activities. The book provides valuable information that include how many tax returns the IRS examines (audits), how they examine them, and what categories of returns the IRS is focusing its resources on.
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Read This Before Tossing Old Tax Records
Now that your taxes have been completed for 2010, you are probably wondering what old records can be discarded. If you are like most taxpayers, you have records from years ago that you are afraid to throw away. It would be helpful to understand why the records needed to be kept in the first place.
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Is Your Credit Rating Correct?
Why do you care? Well for starters, people with a better credit rating enjoy significantly lower interest rates that can add up to thousands of dollars less in interest payments over the term of the loan. For example, a fixed 30-year mortgage payment varies with respect to credit score and the interest rates corresponding to the credit score.
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Can You Write Off a Bad Debt?
Most small businesses have receivables that cannot be collected. These receivables can be from the sale of products, providing services to customers, or a combination of the two.
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Surprised By the Kiddie Tax? There Are Ways To Avoid It!
To prevent parents from placing investments in their children’s names to take advantage of the child’s lower tax rate, Congress, several years back, created what is referred to as the “Kiddie Tax”. Under the Kiddie Tax, a child’s investment income in excess of $1,900 is taxed at the parent’s tax rate rather than the child’s. These rules do not apply to married children who file a joint return with their spouse or self-supporting children.
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Are Your QuickBooks Company Files Tamper-Proof?
Every month, we provide information on how to better use QuickBooks. By implementing the best methods for managing your accounting data, you can actually improve your financial bottom line.
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Parents Can Get Credit for Sending Kids to Day Camp
With summer just around the corner, there is a tax break that working parents should know about. Many working parents must arrange for care of their children under 13 years of age during the school vacation period. A popular solution — with a tax benefit — is a day camp program.
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Rejoice - Congress Overturns Enhanced 1099 Reporting Requirements
In earlier newsletters, we had notified you of two new 1099 reporting requirements for businesses and rentals.
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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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