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Hi, Website Visitor. Here are your Articles for January 10, 2007.
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Hire Your Children to Save Tax

 A problem that many self-employed individuals face is combined income and payroll tax devouring their profits. They work through their day wondering how they can shift or eliminate their self-employment tax burden.

Simple….hire your children!



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Construction Contractors Revenue Recognition

Did you know that construction contractors can select from six methods of revenue recognition for income tax purposes?

Construction contractors have the following revenue recognition methods available:

 

       



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Employee Classification

 Do you struggle with classification in terms of independent contractor vs. employee? This issue is a very complicated one, which could have devastating tax and financial implications if the workers you hire are not properly classified. If you classify a worker as an independent contractor and, as a result of an IRS examination, the IRS reclassifies him or her as an employee, the employer:

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Train your replacement

Lately, more clients are telling me that they are finding it more difficult to complete all their jobs in an 8 hour work day. Earlier this week, a client in a growing company told me that it is taking him 70 hours per week to complete all the administrative tasks for his business.

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Roth IRAs have a number of unique benefits
but many eligible people don't take advantage of them. Don't miss out on this tax-saving vehicle because you assume you don't qualify or you believe your tax rate during retirement won't be very high. In this article, we explain why these assumptions might be wrong and how you might be able to build a substantial retirement fund with a Roth IRA that will be free from federal income taxes.
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Buyers of S corporations can have their cake and eat it too
. There’s a favorable way to buy the stock and have the transaction treated as a direct asset purchase for federal tax purposes. Click "Full Article" for the details of this strategy.
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Try Tiger Woods' approach: Focus on improving sales performance with positive imagery or visualization. Here's an explanation of how this technique contributes to success. 
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Which of the following violates an FTC rule?
a. A company produces barbecue grills at a Nevada plant. The major components are made in the U.S. but the knobs and tubing are made in Mexico. The company advertises that the grills are "Made in the USA."
b. A company advertises its product, which was invented in Seattle and manufactured in Bangladesh, as "Created in USA."

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Is Cleveland riskier than Iraq?
stltoday.com - Sat, 30 Aug 2008 00:42:24 GMT

Grocery Wars Could Mean Big Breaks For Your Wallet
citynews.ca - Sat, 30 Aug 2008 00:41:51 GMT

Russia to Ban Imports of Some U.S. Poultry
nytimes.com - Sat, 30 Aug 2008 00:40:17 GMT

Invasive pest found in Napa, Sonoma counties
sfgate.com - Sat, 30 Aug 2008 00:33:46 GMT

Beleaguered lender battles title firm
projo.com - Sat, 30 Aug 2008 00:27:14 GMT


 

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We take great care in the preparation of our articles and announcements. We also have a process of reviewing articles when major changes take place. The business, legal and tax climate is constantly changing especially when reviewed on an industry basis.

It may be very important to consult with us or your Investment Advisor before implementing ideas contained in articles and announcements. Many ideas have complexities and nuances that cannot be adequately detailed in the articles or announcements. We are not responsible for errors, misinterpretations or omissions related to these articles or announcements. Nor are we responsible for the applicability to your personal, business or tax situation.

Pursuant to Circular 230 promulgated by the Internal Revenue Service, if this email, or any attachment hereto, contains advice concerning any federal tax issue or submission, please be advised that it is not intended or written to be used, and that it cannot be used, for the purpose of avoiding federal tax penalties unless otherwise expressly indicated.

 

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