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Hi, Friend. Here are your Articles for June 13, 2007.
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 The new tax law profiled in last week's edition further tightens the so-called "Kiddie Tax". Putting more tax pressure on wealthy parents who make gifts to their children in order to take advantage of the lower tax rate on children's investment income, Congress is once again tightening the loop by pushing children's income into their parent's higher tax rate. Read on for details and tips on how to make gifts to your children in a more tax efficient manner. |
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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.
The information is provided "as is," with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.
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415 Fallowfield Road Camp Hill, PA 17011
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It has come to our attention that some corporations that filed extension Form 853-R have received denial letters stating that their extension requests were late. We have researched the issue and the Pennsylvania Department of Revenue has stated that they experienced an in-house computer error. A miss-keyed date caused these letters to be automatically generated in error. Read on for more details.
In the history of our firm, we have had the great pleasure of serving many interesting and colorful clients, who in their own careers have made an indelible mark on the community where we work. Today, we salute one of those people - Jim Cooper, the retiring President of the Central Pennsylvania Blood Bank. It's a rare thing in any industry to keep a client for the entire life of your business. Rarer still, is it that the same person would be in charge of that client's operations for that entire era. When McKonly & Asbury opened its doors in 1973, the Blood Bank - with Jim Cooper at the helm - was one of our original clients. Read on for more on Jim's career, as we salute a great servant to Central Pennsylvania. 
