| Hi, CPA. Here are your Articles for January 28, 2010. |
| Important Tax Figures for 2010 |
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 Every year the dollar amounts allowed for various federal tax benefits is subject to change based on inflation adjustments and legislation. For 2010, many amounts will remain unchanged or change only slightly because inflation has been so low. Click the "Full Article" below and Bob Peare will provide these important tax figures for the upcoming year, including the Social Security wage base, qualified retirement plan and IRA contribution limits, driving deductions, allowable business write-off amounts and more.
Robert S. Peare, CPA, Director |
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| Deducting Business Vehicle Expenses |
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 Taxpayers with business-related travel expenses can deduct actual expenses or a standard mileage rate. Click "Full Article" to learn about the changes for 2010 and how you can get the biggest deductions for business driving. |
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| Washington News: Special Haiti Tax Break and New Business Political Clout |
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 Washington decision makers just acted on two important developments:
1. In an effort to encourage Americans to give generously to help victims of the massive earthquake in Haiti, Congress passed a new law that enables people to deduct donations made before March 1, 2010 on their 2009 tax returns
2. The Supreme Court handed down a decision that allows corporations and labor unions to play a greater role in political campaigns.
Inside, we'll tell you about these actions and what they could mean for you.
Copyright © 2010 |
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| Give The Kids Your Home and Cut Taxes |
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 With a Qualified Personal Residence Trust, you can get your home out of your taxable estate yet still continue to enjoy it. But the strategy can be risky. Click "Full Article" for the details.
Copyright © 2010 |
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| Handling Interest Expense on Loans to Inject Capital |
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 Injecting capital into an S or C corporation with proceeds from a personal loan can generate interest tax write-offs. Click "Full Article" for a look at how to allocate these cash injections to maximize your deductions.
Copyright © 2010 |
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| Don’t Take Tax Chances on Gambling |
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 Gambling winnings fall under the Internal Revenue Code definition of gross income "from whatever source derived," and that means they are taxable. Click "Full Article" to learn what information you should keep if you head to the racetrack or hit the tables in Vegas.
Copyright © 2010 |
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