Posts Tagged ‘American Rcovery and Reinvestment Act of 2009’
Small Business to be Hit Hard by New SECA Rules
June 16th, 2010 | 
Author: 
IRS closing S-Corp Tax Loop Holes
As a trusted tax advisor I am in the position of researching new proposed tax laws and passing that information on to my clients. Sometimes a new bill comes along that I feel is important for my clients and readers to get a heads up on due to the major tax implications. This latest bill has quietly moved through the House and is on its way up the ladder.
Posted in Business Finance, Self Employment, taxes | 
Tags: American Rcovery and Reinvestment Act of 2009, audits, capital gains, H.R. 4213, Health Care and Education Reconciliation Act, House Ways and Means Committee, IRS, Medicare, personal services income, S Corporations, SECA, self employment tax, small business, sole proprietorship, tax, tax law, tax loop hole, tax loophole, taxable income | 
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Federal Tax Incentives for Continuing Education (Part 4 of 4): Student Loan Interest Deduction
More Americans are headed back to school, Federal tax deductions help with the expense
So far we’ve discussed the American Opportunity Tax Credit (modified Hope Credit), the Lifetime Learning Credit and even Tuition & Fee Deductions. Today though, we’re going to cover the last in our 4 part series on education tax incentives—Student Loan Interest Deduction. The great thing about this deduction is that you can take this deduction even if you qualify for the other tax credits or deductions! Read the rest of this entry »
Posted in Personal Finance, taxes |
Tags: accounting, American Opportunity Tax Credit, American Rcovery and Reinvestment Act of 2009, higher education, Hope Credit, Hope Tax Credit, lifetime learning credit, student loan, student loan interest deduction, tax, tax credit, taxes, Tuition and Fees Deduction allowance |
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Federal Tax Incentives for Continuing Education (Part 3 of 4): Tuition and Fees Deduction
Post-secondary education costs are on the rise but Federal tax incentives attempt to provide some respite
While we’ve been talking about the Lifetime Learning Credit and the American Opportunity Credit (Hope Credit, modified for 2009-10), I would be remiss to leave out other options for taxpayers who may not qualify for either credit. If you don’t qualify for anything else, you may not be left completely on your own; you may still be able to claim a small deduction for some education expenses. Read the rest of this entry »
Posted in Personal Finance, taxes |
Tags: American Opportunity Tax Credit, American Rcovery and Reinvestment Act of 2009, education tax benefit, higher education, Hope Credit, Hope Tax Credit, lifetime learning credit, modified adjusted gross incom, Student Loan Interest Deductions, tax, tax credit, taxes |
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Federal Tax Incentives for Continuing Education (Part 1 of 4): American Opportunity Tax Credit
Looking to advance or change careers, many working adults are headed back to the classroom
For many American’s, the ideal of living in the “Land of Opportunity” seems to be quickly fading into nothing more than a distant memory. It’s unfortunate that the turn of our economy has dimmed the hopes of so many, but there is still opportunity to be had.
Posted in Personal Finance, taxes |
Tags: American Opportunity Tax Credit, American Rcovery and Reinvestment Act of 2009, bachelor's degree, back to school, continuing education, federal tax incentives, get you degree, graduate school, higher education, Hope Tax Credit, master's degree, post-secondary education, refundable tax credit, tax credits, taxable income, taxes, underemployed, unemployed workers, unemployment |
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Making Work Pay Tax Credit
Yes, we are back, rested and ready to hit the road running after a little break over the Holiday season! To start off the new 2010 tax year, I wanted to cover a topic that will affect most taxpayers in a positive way , the Making Work Pay Tax Credit.
Posted in Personal Finance, taxes |
Tags: accounting, American Rcovery and Reinvestment Act of 2009, earned income, earned income credit, find a good accountant, Fredrick James, independent contractor, IRS form 2210, Making Work Pay Tax Credit, Schedule M, tax, tax credit, taxable income, taxes |
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Unemployment Benefits: No Free Bailout For You
It’s been a tough year for Americans, and the numbers are looking pretty grim as we go into the Holiday Season. Florida’s overall unemployment rates are hovering just over 11% and nationwide they’re around 9.6%. According to The Wall Street Journal, the average length of official unemployment increased to 24.5 weeks, and the numbers of long-term unemployed has jumped to an all-time high of 4.4million. Everyone feeling jolly yet?
Well, there is one small ray of sunshine: Last week President Obama signed the unemployment extension legislation which provides for 14 weeks of extended benefit coverage for every state and an additional 6 weeks, for a total of 20 weeks, in high unemployment states where unemployment is over 8.5%. Read the rest of this entry »
Seven Facts about the New Sales Tax Deduction for Vehicle Purchases
Taxpayers who buy a new car or several other types of motor vehicles this year may be entitled to a special tax deduction when they file their 2009 federal tax returns next year. The tax break is part of the American Recovery and Reinvestment Act of 2009.
Here are seven things you should know about this new deduction: Read the rest of this entry »