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- 6. July 2010: HIRE ACT
- 24. June 2010: State of Florida Annual Filing Fee
- 23. June 2010: Spouse & Homebuyer Credit
- 21. June 2010: Homeless Person - I gave money - can I deduct it?
- 21. June 2010: Proof in an Audit
- 1. June 2010: Recourse vs. Nonrecourse Debt
- 5. March 2010: Reverse Mortgages - Taxable? Deductible?
- 3. March 2010: Work Clothes Deduction
- 12. February 2010: Scholarship Count Toward Support?
- 7. February 2010: Mileage Rates in 2009
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Archive for 18. November 2009
Small Business Loans (SBA)
18. November 2009 by admin.
The current stimulus allows a small business about to default on a debt to borrow up to $35,000 from a lender to assist in making payments. The SBA (Small Business Administration) will pay the interest AND repayment of the loan principal is deferred for 12 months! This is known as the American Recovery Capital (ARC) Loan Program.
Not all banks deal in SBA loans. If you need a reference, contact us www.USATaxHelp.com
Posted in General | No Comments »
Tax Preparers Beware
18. November 2009 by admin.
Currently, any tax preparer with 250 returns is required to e-file. After 2010 the threshold drops to TEN!
Posted in Sub S Corporations, LLC's, Income Tax, General | No Comments »
Late Filing of S Corps and Partnerships
18. November 2009 by admin.
The Penalty for Late Filing of S Corps or Partnerships is now $195 per month per shareholder or partner for up to 12 months (more than twice the previous penalty). It does not matter if he entity owes tax or not, this is a late filing of the paperwork. It would INCLUDE not filing an extension. DON’T WAIT TILL THE LAST MINUTE!
Posted in Sub S Corporations, LLC's, Income Tax | No Comments »
Homebuyers Tax Credit for EXISTING Home Owners!
18. November 2009 by admin.
If you’ve owned a home for 5 out of the last 8 years CONSECUTIVELY, you qualify for a tax credit up to $6,500 if you purchase another PRIMARY RESIDENCE aftter November 6, 2009 and before May 1, 2010.
The EXISTING Home Owner’s credit of up to $6,500 and the First Time Home Buyer’s Credit of up to $8,000 DO NOT APPLY for homes costing greater than $800,000 if purchased after November 6, 2009.
Posted in Income Tax | No Comments »
First Time Homebuyers Credit EXTENDED to April 30, 2010
18. November 2009 by admin.
It will not lapse on Nov 30th. If the sales contract is signed by April 30, 2010 and CLOSED by June 30, 2010 you qualify for the extended credit.
Posted in Income Tax | 1 Comment »