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Hello, Here are your Articles for January 14, 2008.
Don’t Overlook These Valuable Tax Credits


Excerpted from IRS.gov - Fact Sheet January 2008

Tax credits can help you pay part of the cost of raising a family, going to college, saving for retirement, making energy-saving improvements to your home and getting daycare so you can work or go to school. Each year, many taxpayers overlook them, even though they often qualify for one or more of these credits.

Though both tax deductions and credits can save you money, they do it in different ways. A deduction lowers the income on which tax is figured, while a credit lowers the tax itself. Take time now to review your records and see if you qualify for one of these popular but often overlooked tax credits.

Click "Full Article" below to read about tax deductions and credits in 2008.



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Plan Contribution Limits for 2008

The Internal Revenue Code provides dollar limitations on benefits and contributions of qualified retirement plans. It also requires the IRS to adjust these limits for cost‑of‑living increases on an annual basis.

The IRS recently announced the pension plan limitation changes for 2008.

Click "Full Article" below to review the changes. 



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Who has access to the information on your tax return? In two developments, the IRS began an initiative to share more information with state governments, and announced new rules that limit what tax preparers can do with the facts and figures that appear on tax returns. Click "Full Article" for the details and what they might mean to you.
Copyright © 2008

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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.
Copyright © 2008

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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.
Copyright © 2008

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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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