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Hi, Website Guest. Welcome to the April 30, 2008 edition of KAF e-Resource
DOR Error with Electronic Extension Payments

It has recently come to our attention that the Department of Revenue (DOR) has made an error with 473 taxpayer's extension payments.   We sincerely hope that none of our clients are affected by this error but in case you were, we wanted to keep you informed.  The DOR debited bank accounts twice for some taxpayers who had made their extension payments electronically.  Please read the following release from the DOR. 

If you need assistance with this matter please call Cathy Foley or Popi Barrett at 781-356-2000.



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Tax Records: What Can You Throw Away Now?

Get out the paper shredder! If you met the April 15 deadline and filed your tax return last week, you can clear away some of the paperwork cluttering up your files. But save essential records that can protect you during an IRS audit -- or help you collect a future refund. Click "Full Article" for a handy reference guide to the business and personal tax records you need to retain -- and how long you need to keep them.

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Staying Calm During Market Volatility Can Help You Come Out a Winner
Don't panic. That is the general advice for investors who have just gone through an extremely volatile stock market quarter. Fear of losses can send investors away from a sound investment strategy. Click "Full Article" for a discussion of how market timing can hurt your investment returns, as well as three common, long-term strategies that may provide greater financial rewards.

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Gasoline prices are at record highs with the nationwide average cost-per-gallon hitting $3.57 last week. That makes fuel a prime target for cost-cutting. Here are some smart ways your company can help boost its bottom line by taking smart driving and vehicle maintenance steps.

When dividing assets in a divorce case, a valuator must determine the value of any goodwill in a business. Take a look at one court case involving a medical practice that addressed the subject.
Copyright © 2009

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If your business sponsors a retirement plan, you must invest prudently and stay in compliance with numerous complex federal requirements. If you don't follow the rules, the IRS could disqualify your plan. Here are some steps to help keep you from falling into a costly noncompliance trap.
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INACTIVE The longer you can shelter money
in a qualified retirement plan from taxes, the larger the account can grow. But if you inherit money from a qualified plan owned by someone other than your spouse, you may receive a taxable distribution that ends the shelter. Fortunately, a law passed in 2006 provides some new options for non-spouse beneficiaries that allow them to defer paying taxes on large inherited distributions. Take a look at the rules and who can benefit.
Copyright © 2009

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HK lawmakers discuss Disney expansion plan
sfgate.com - Sat, 4 Jul 2009 15:40:14 GMT

Officials look ahead in Fenton
stltoday.com - Sat, 4 Jul 2009 15:40:02 GMT

Kosovo joins IMF, World Bank
setimes.com - Sat, 4 Jul 2009 15:30:15 GMT

Sales of flat-panel TVs brighten retail picture
chicagotribune.com - Sat, 4 Jul 2009 14:50:06 GMT

Own part of a PSU and partner with FM?
rediff.com - Sat, 4 Jul 2009 14:22:33 GMT


 
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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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