Written by Tweet Well here we are, January and it is time to start getting your tax information ready. But what do you need? Twelve months have passed. With the economy the way it is many have already been thinking about their taxes, some haven’t. Getting things ready to take in [...]
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Reads from Last Week. . . .
Tweet Hey, another Sunday and a lot of Post to read. I am throwing in a lot of articles about Finance and such because it is that time of year, and I love Christmas. Yea, December and the holiday cheer. Anyway without further chattedly conversing, “. . .and here we go.” Compensating audited [...]
READ MORE »A brief overview of the alternative minimum tax (AMT).
Tweet The Alternative Minimum Tax (or AMT) is an extra tax some people have to pay on top of their regular income tax. Okay that sounds pretty messed up, doesn’t it? In recent years, the AMT has been under increased attention. Why? Well, put simply, because the AMT is not cataloged or set [...]
READ MORE »Form 1040 “New for 2009, Filing”
Tweet Well the IRS has released its “draft” of the 2009 Form 1040. Clicking the photo on the right will take you in a new window so you can see it if you like. The only change in the “Income” section is line 19. It is still for “Unemployment compensation”, but they added the [...]
READ MORE »Welcome to the new site address. .
Tweet Welcome to my new site for this blog. As you can see I have changed it around a bit. Okay a lot. Reason for the change is, well, not sure. Basically just decided the place needed remodeled. That is what has been taking so long. Locating a theme and then tweaking it [...]
READ MORE »“Why, Eckhardt, you oughta think about the future.”
Tweet . . . Eckhardt merely scoffs at the statement, “You’re an A-1 nut-boy, and Grissom knows it.” Later as things had changed, he is told again, “Eckhardt! Think about the future.” Of course then Eckhardt is killed. Avoid the ‘Death Tax’. As a fan of the Batman movies, I am [...]
READ MORE »Making Work Pay tax credit
Tweet April 1st was implementation day for the Making Work Pay tax credit, and it wasn’t an April Fool’s joke. The American Recovery and Reinvestment Act of 2009 (ARRA), Congress’ most recent effort to “stimulate” our economy, contains this new tax credit, which will affect everyone when filing your individual return. You may be able [...]
READ MORE »Need more time to file?
Tweet Today is the day, or the last day I should say. If you can’t meet the April filing deadline to file your tax return, you can get an automatic six month extension of time to file from the IRS. Some things you need to know about filing for an extension: An extension will give [...]
READ MORE »Some Commonly Overlooked Small Business Deductions
Tweet Written by: Courtney Phillips In the current economic climate, it is no surprise that people are looking for ways to save on their taxes. Over the last several years, many people have begun to telecommute, freelance, or work from home. These people often do not realize that there are many things that can [...]
READ MORE »Are Credit Card Statements Sufficient Documentation for the IRS?
Tweet Written By: Steve Sildon For those running small or home-based businesses, you may have gotten in the habit of using a credit card to charge items for your business. The nice thing about using a credit card, especially a small business credit card, is that card issuers typically provide year-end expense statements that [...]
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