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Last Month on February 17, 2009 President Obama signed into law THE 2009 AMERICAN RECOVERY AND INVESTMENT ACT In the message I will highlight specific instances that you might be able to use for your 2009 tax return. 1. Making Work Pay Credit Eligible individuals are allowed a...

Here is some guidelines as to what should be saved after you file your tax return, I think this was posted a few times before, but here it is again, directly from the IRS web site. What Tax Records to Keep You probably already keep records in your daily routine. This includes keeping...

Reasons Why People Should Have You Do Their Taxes Sometimes it’s most important to convince yourself that the tax preparer you chose are worth the fees they charge for preparing taxes. Can they benefit you to reduce and advise their clients. Here are 6 things to remember the next time you...

Re: Depreciation; Purchased used 2007 St Trk answer that was posted on 1/12/2009 -------------------------------------------------------------------------------- Cargo vans are 5 years, straight trucks and tractors are 3 years, trailers are 6 years it also is a prorated in the first...

Tax Preparation Tips: Professional Advice With the holidays behind us, tax season is now in full gear. How can you prepare in order to avoid a stressful and potentially costly return? Here are a few tips from a tax professional to help you avoid any IRS anxiety in 2009 for your 2008 tax...

What Tax Records to Keep You probably already keep records in your daily routine. This includes keeping receipts for purchases and recording information in your checkbook. Keeping these and other records will help you avoid headaches at tax time. Good recordkeeping will help you remember the...

Information Release Immediate Release January 15, 2009 Business / Financial News / Personal Finance / Consume!r Interest Franklin Katz, ATP, PA, PB Frank’s Tax and Business Service 120 York Rd Kings Mountain, NC 28086-3151 (704) 739-4039 Fax: (704) 739-3934 National...

When you trade in your truck, van etc for the same. , you must file a form 8824 like kind exchanges and be figured as followed, I use only 12cent per mile to make it easier to explain: TRADE IN OF ASSETS Trade In of Assets When a business asset is used as a trade-in for similar...

This now is a Federal Law that all CPA's, EA's and any tax preparers will request from all taxpayers. which was Effective January 1, 2009. It is called " SECTION 7216 TAXPAYER CONSENT OR DISCLOSURE RULE 1. All tax preparer must have the taxpayers sign a CONSENT TO USE THEIR TAX...

On November 26, 2008 there was an article in the Wall Street Journal which the State of NY has gone after Tax Preparers and found that approximately 1300 firms, were not complying with federal and state tax regulations. this article was released by all four of the associations that I am a member...

The standard Mileage Rate is Split for 2008 From January 1, through June 30, 2008 is 50 1/2 cents per mile From July 1, 2008 though December 31, 2008 is .58 1/2 cents per mile 1. 2009 Standard Mileage Rates Announced The IRS has issued Revenue Procedure 2008-72 announcing the 2009...

Here is a Court Case Concerning US Express Leasing, Inc. vs Illinois Department of Revenue, No 1-07-1204(Illinois Court of Appeals, Third Division. August 27, 2008 The Court has ruled that a commerical trucking company is subject to the state's motor fuel tax for the time spent idling off...

-------------------------------------------------------------------------------- Here are a couple of Questions that are asked from tax payer like you, It might pertain to you or not, but here are the questions Question: 1 John and Linda were married in 2006. Linda sold her principal...

HI ALL, WE ARE NOW IN NOVEMBER, 2008 How time flies, it's getting to that time of year again where you all will have to get all your receipts together for the person who does your taxes. Normally, from this time through Xmas you should be busy, depending on the company that you are...

THE 5 MOST IMPORTANT DECISIONS THAT YOU HAVE TO MAKE WHEN STARTING YOUR BUSINESS 1. Have a Business Plan a. Business Plans are used for Financing b. They provide a yardstick againist which future preformance will be measured c. They provide a framework for decision making and...

THE 5 MOST IMPORTANT DECISIONS THAT YOU HAVE TO MAKE WHEN STARTING YOUR BUSINESS 1. Have a Business Plan a. Business Plans are used for Financing b. They provide a yardstick againist which future preformance will be measured c. They provide a framework for decision making and...

LA-MS-2008-47, Sept. 29, 2008 . WASHINGTON — Victims of Hurricane Gustav in Mississippi may qualify for tax relief from the Internal Revenue Service. Following severe storms and flooding on Aug. 28, the federal government declared Adams, Han****, Harrison, Washington and Wilkinson...

Sorry to inform everyone that the E-mail addresses fkatz1@ bellsouth.net and frankstaxservice1@ bellsouth.net is no longer working, It seems that we have had a problem yesterday with my account. I had to disconnect my home phone and DSL service due to the cost of my diabetic medications. and...

[b]For those of you that are a Full "C" Corporation and "S" Corporation Your tax return must be filed, with an extension by Monday September 15th. For those of you who never filed for and extension by March 15th, 2008, even if you file your return you still will be penalized a minimun of...

This is a copy of a press release, that the IRS issued in September 2008, through this release the IRS will implament more audits on the following business persons, Taxpayers who file Small Corporations (1120S) especially if no Salary, or any compensation for officers is not taken...