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Hi, Friend. Here are your Articles for August 20, 2008.
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Summer 2008 Statistics of Income Bulletin Issued

The Internal Revenue Service has released the Summer 2008 issue of the Statistics of Income Bulletin.  This Bulletin features data on the growth in profits and tax liability reported by foreign-controlled domestic corporations for tax year 2005.  Read on for more information about this and to see what other articles this Bulletin features.   



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Updated Guidance on Voluntary Correction Program for Retirement Plans

The Internal Revenue Service has issued updated guidance on the voluntary correction program for employee retirement plans – the Employee Plans Compliance Resolution System (EPCRS).  Under EPCRS, plan sponsors and plan professionals can correct certain errors in employee retirement plans, in some cases without having to notify the IRS.  Correcting plans in this way allows participants to continue receiving tax-favored retirement benefits and protects the retirement benefits of employees and retirees.  Read on to learn more. 



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Wall Street Journal’s Primer on the Capital Gains Rules

Even for many of the nation's most sophisticated investors, this has been an unusually painful year.  But there are valuable tax-saving strategies to consider that may help ease the sting.  The Wall Street Journal has posted an article on the capital gains tax and its implications.  They warn investors to not make important investment moves without at least considering the tax implications.  In this article, they have provided coverage on the capital gains rules, including a peek at what may lie ahead next year.  Read on for a link to the article.



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The Justice Department recently announced it has charged 11 people so far in the largest hacking and identity theft case in history. The perpetrators broke into the computer networks of several retailers and stole credit card, password, and other customer information. The security of your company's computer network is critical to safeguarding confidential information. A secure system is also essential to keep your business running smoothly. To
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Take time periodically to review
your homeowner insurance policy. It's important to keep the coverage up to date and, in the process, you may find some ways to save money on premiums. Click "Full Article" for some ideas on how to keep your property safe without overpaying.
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Leasing can be a shrewd alternative to purchasing when it comes to items like equipment, business cars and space. And shrewdness also comes into play when you negotiate the payments. Click "Full Article" to see how to avoid twisting in the wind after signing your next lease contract.
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Training employees can be an expensive proposition, but there's a smart way to trim those costs and at the same time gain some valuable insight into your company's operations. Click "Full Article" for tips on creating how-to manuals that really work.
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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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