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Hi, Website Visitor. Here are your Articles for May 21, 2008.
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We take great care in the preparation of our articles and announcements. We also have a process of reviewing articles when major changes take place. The business, legal and tax climate is constantly changing especially when reviewed on an industry basis.
It may be very important to consult with us or your Investment Advisor before implementing ideas contained in articles and announcements. Many ideas have complexities and nuances that cannot be adequately detailed in the articles or announcements. We are not responsible for errors, misinterpretations or omissions related to these articles or announcements. Nor are we responsible for the applicability to your personal, business or tax situation.
Pursuant to Circular 230 promulgated by the Internal Revenue Service, if this email, or any attachment hereto, contains advice concerning any federal tax issue or submission, please be advised that it is not intended or written to be used, and that it cannot be used, for the purpose of avoiding federal tax penalties unless otherwise expressly indicated.
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Full Newsletter 
On August 8, 2005, President Bush signed H.R. 6, The Energy Policy Act of 2005 into law. This legislation created a new tax incentive for constructing energy efficient commercial buildings. This deduction is only applicable to building systems installed before January 1, 2009, so it is important to take advantage of this deduction before its expiration.
The 529 college savings plan can be a great option for parents looking to fund their child's college education, but investors need to do their homework to get the maximum return for their money. 
The IRS has released a study on the tax-exempt community's awareness of the new small organization filing requirements. This study, conducted by Russell Research, was published by the IRS as Publication 4685 (1-2008).
S Corporations, which are companies granted a special tax status as specified under the Internal Revenue Code, have a different set of regulations when it comes to deducting distributions.
Under the tax code, taxpayers are restricted in deducting losses from activities that are not "engaged in for profit." The IRS frequently argues that certain activities are hobbies, rather than businesses. Read how one taxpayer convinced the Tax Court that her horse-related activity was a legitimate business. We'll also explain how you can help secure tax breaks related to an enjoyable activity you would like to turn in