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Hi, Friend. Here are your Articles for March 28, 2007.
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Judge Dismisses PCAOB Lawsuit

A lawsuit filed last year that sought to invalidate the Public Company Accounting Oversight Board, was dismissed this week by a federal judge. The suit claimed that the PCAOB violates the separation of powers principle of the constitution as well as the appointments clause because the SEC appoints the members, not anyone from the executive, legislative or judicial branches of government.  Read on for the full story.


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Give the IRS a Piece of Your Mind

We’ve all wanted to give the tax man a piece of our mind at some point or another.  Well, now is your chance!  The Internal Revenue Service is inviting civic-minded individuals to help improve the nation’s tax agency by applying to be members of the Taxpayer Advocacy Panel. The Panel provides a forum for citizens from each state to make suggestions regarding IRS decision making.  Read on for more details on how to apply.


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Last Chance: Help A Student That You Know Get Ahead!
March 30th is the deadline for High School students to submit their entries for Junior Achievement's 2007 Young Business Person Awards! Junior Achievement of Central Pennsylvania is holding two competitions for young entrepreneurs and business people. The competitions are JA's third annual Business Plan Competition and its first Young Business Person Awards. Read on to learn more about these exciting competitions and how someone you know can submit an entry!      


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The alternative minimum tax (AMT)
was introduced in 1969 to make sure the wealthiest taxpayers pay some taxes. But today, the AMT hits many middle income taxpayers and the situation is getting worse every year. According to estimates, 3.5 million taxpayers will be hit by the AMT in 2006, up from 2.4 million in 2003. And unless Congress acts, more than 23 million taxpayers will pay AMT in 2007. Is there any way around it? Click "Full Article" for the answer.
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Uncle Sam still requires you to pay tax
when you sell appreciated investment real estate. But here's a smart long-term maneuver that lets you keep your profits from a rental home or investment property tax-free.
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When you invest in a startup business, an S corporation is generally a good choice.
Reason: You'll be able to insulate your losses against the IRS. Click "Full Article" for additional details.
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Brilliant business plans are a great starting point, but to make your dreams come true you need cash to buy equipment, hire employees and make the venture grow. Seed capital can come from several sources, but there's more to the story. Click "Full Article" to see how various money-raising exercises can affect the success or failure of your enterprise.
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Our firm provides the information in this e-newsletter for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation.

The drafter of the tax articles in this e-newsletter did not intend nor write the advice to be used to avoid any penalty imposed by a taxing authority, nor may any user/recipient of this document use this document’s written tax advice for that purpose. This document’s tax advice was written specifically to support the promotion or marketing of the transaction/matter addressed by the written tax advice. Therefore, any user/recipient of this document should seek an independent tax professional’s advice regarding the user/recipient’s particular circumstances.

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