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Hi, Friend. Here are your Articles for February 20, 2008.
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Olympic Champion to Speak on Employee Wellness

How often do you get the chance to meet an Olympic Champion?  Well here's your chance to do just that and learn how employee wellness can help you build a healthier, happier employee base that ultimately saves you money. Read on for more details about the second round of our McKonly Benefits Seminar Series! 


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How the Alternative Minimum Tax Affects Filing Season 2008

For the vast majority of taxpayers, this year's filing season began on time. However, as many as 13.5 million taxpayers were delayed in filing because of the recent legislation that resulted in a one-year fix of the Alternative Minimum Tax (AMT). The IRS has now posted the five forms that are needed for those taxpayers affected by the delay so they can complete filing their returns. Read on for more details and access to the forms. 



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FASB Defers Effective Date for FIN 48 for Nonpublic Entities

The title of this article alone might be too much alphabet soup for many of our readers, but the subject is nevertheless very important in your corporate financial statements.  FIN 48 clarifies the accounting for uncertainty in income taxes recognized in an enterprise's financial statements in accordance with FASB Statement No. 109, Accounting for Income Taxes (SFAS 109).  In essence, it requires companies to state if they have taken an uncertain position on income tax that may result in an increased tax liability.  Public entities began complying in 2007, but FASB has again deferred the effective date for nonpublic entities.  Read on for more details. 



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By now, you've probably heard about the new federal law that will be providing tax rebates to qualified individuals, beginning in May. But the Economic Stimulus Act also includes valuable new tax breaks for businesses on qualifying equipment and vehicles that they purchase. Click "Full Article" to find out which businesses are eligible, how much they can claim and what type of asse
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Sticky fingers erode profits, create losses -- and in some cases even cause bankruptcy. Be vigilant and you can stop thieves in their tracks. Read the "Full Article" for 18 ways to go about preventing theft of cash, inventory, intellectual property and more.
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Obtaining a casualty loss on personal property can be tough because of the limitations imposed by law. But if your personal automobile is involved in an accident, there may be a way to salvage a business tax deduction. Click "Full Article" for the details.
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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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