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Hello, Here are your Articles for December 3, 2007.
Qualified Default Investment Alternatives - Fiduciary protection for a default investment

Many retirement plans allow the participant to direct the investment of their own retirement plan assets, generally because the trustees want to limit the fiduciary liability to which they are exposed.   However, if a participant chooses not to direct the investment of their own account, the trustee is still liable to prudently invest those assets (in other words, the trustee should consider each participant's age and risk tolerance in determining how that participant's account should be invested).  However, many trustees, afraid of being liable for losses on those accounts, invested them too conservatively, in money market or stable value funds. 
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20 Ways to Reduce Your Tax Bill
With the arrival of the busy holiday season, it's easy to set aside tax planning. Unfortunately, as the year draws to a close, so do most opportunities to reduce your 2007 tax bill. While there is still time, consider these 20 ways to minimize your personal and business taxes, most of which require you to take some action no later than December 31st.

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Profit from Gift Card Popularity While Avoiding Pitfalls

Gift cards are expected to be this year's gift of choice. All sizes and types of businesses are now offering the plastic cards. With the holiday shopping season just around the corner, here is a look at some accounting, tax and fraud issues that are emerging as the popularity of gift cards continues to grow.

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Tax Deductions for Transporting 'Tools of the Trade'
As you may know, the cost of commuting back and forth from work is not a deductible expense, whether you travel by car, train, bus or even plane. However, there are several exceptions to this general rule. For example, you may be able to deduct certain commuting costs while you’re operating on a temporary assignment or if you’re traveling between two business locations. Click Full Article to learn about another exception

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New Immigration Regulations Put on Hold for Now
You may be wondering what happened to those tougher new rules announced awhile ago regarding employment of illegal immigrants. The rules, designed to beef up enforcement of immigration laws, were scheduled to begin taking effect in September of 2007. For a reminder of the changes and to find out why they have not been implemented, read the "Full Article."

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The IRS recently released a list of 11 potential 401(k) plan errors. Has your company's plan made any of them? Ignoring these mistakes can lead to costly penalties and even disqualification of a plan's tax-favored status. The good news is you may be able to correct errors before the IRS comes calling.

 In other IRS news, the 2008 standard mileage rates were just announced. Click "Full Article" to find out what they are.
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Save time and money by making sure your patients are eligible for care through health insurance. Here are four quick tips to protect your medical practice.
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Thousands of National Guard members and reservists have been mobilized in Iraq. If employees at your company are called up or are returning from active duty, federal law requires you to protect their jobs by taking certain steps. Follow these important rules to ensure your firm stays in compliance.
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Nearly instant financing is available for growth without adding debt or diluting equity if your company takes advantage of a little publicized service that dates back thousands of years. Click "Full Article" to see how factoring your accounts receivable can benefit your company and bolster its cash flow.
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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. Tax articles in this e-newsletter are not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. 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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