Reads From Last Week

Posted by on Jul 18, 2010 in Information, Opinions, Week in review | 0 comments

Sales tax collection on online purchases: legislation to ease it, lawsuit to stop it.

PREPAYING INDEBTEDNESS AT A DISCOUNT DOES NOT ALWAYS GIVE RISE TO CANCELLATION OF INDEBTEDNESS INCOME – the reduction in the amount due will often be characterized as cancellation of indebtedness income, which is subject to income tax.

HIRE and 941′s – 941s can be confusing to the new employer and with the new payroll forgiveness provision in the Hiring Incentives to Restore Employment Act it’s even more trouble. . . IRS info on the HIRE Act

Why Are My Social Security Benefits Taxable??

Is Cash King?

There are 2 main time limits: How long debt stays in your credit reports and how long you can be sued for it. If you’re struggling, here’s what you need to know. Is there a statute of limitations on debt?

An Interview with the Richard “The IRS Hitman” Close

US banks with the largest branch networks have already started to discontinue free checking accounts for new customers. Andy has some great advice in his post The End of Free Checking and How to Avoid Monthly Account Fees.

 

ON THE ROAD AGAIN from The Wondering Tax Pro tells the tale of an upcoming event I had hoped and planned to attend. Alas, I had issues that caused me to change those plans. However, Nothing will keep me from next year’s conference (at least nothing I can foresee) as I have already let all who need to know, know. It is already in my planner and what not. I will see everyone in St. Louis in 2011. Only a four hour drive. See you then my friend.

Want to know how to have more money? Start with saving, it’s the easiest way to have more money. How to Have More Money. Save Money to Make Money.

How to Open a Business Checking or Savings Account “One of the most important things you can do when you own a business is separate your business and personal income. The most important reason is to make things much easier when filing your taxes. One of the easiest ways to separate your personal and business finances is by opening a business bank account, such as a business checking and/or business savings (I recommend both).” I also recommend having both. I separate banking account from your personal is a must in my opinion.

How to Create a Sub Account in ING

One of the most commonly touted benefits of being a home owner is the ability to deduct mortgage interest from your taxes. How Much Are You Really Saving with the Mortgage Interest Deduction?

Small Business News: The Better Business Owner Today we realize that it is not so much money or the right connections that make a business succeed in the long run. How many well-funded businesses have you seen run into the ground by owners who failed to successfully negotiate a change in the market or who really didn’t ever understand the market to begin with? Similarly, the better business owner does not do everything for money. There’s a passion too for their business that is truly extraordinary and there is a vision that is unique and belongs to no one else. What sets the better business owner apart is information, the information to achieve their goals, and passion, a love for your product, service or brand that nothing can shake. We aim to provide the foundation for both in this edition of the small business roundup.

If you missed my post this past week I posted a two part explanation coving the Profit and Loss Statement. The information came from two sources cut and edited for the general information provided. Please be sure to check these out if you haven’t already.

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