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Website Vistor, welcome to The Advisor for October 6, 2008.
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Walter Smith, CPA
Managing Principal
Principal, Tax Services
You don't work on Wall Street, so the new financial bailout legislation doesn't benefit you. Right?
Wrong, at least for most people.
To secure passage of H.R. 1424, the Emergency Economic Stabilization Act of 2008, Congress supplemented the financial bailout provisions with alternative minimum tax (AMT) relief and temporarily increased the basic deposit amount insured by the FDIC from $100,000 to $250,000 per depositor, per insured bank.
Congress also extended expired or expiring tax breaks, enacted new tax relief provisions, and included a variety of energy incentives and disaster relief provisions in the legislation.
Click Full Article for a brief overview of the individual and business tax relief enacted as part of the new financial bailout legislation.
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Bart Wilson, MBA, CPA
Principal, Accounting and Assurance Services
Director, Audit Services
The Dow Jones Industrial Average has fallen almost 500 points. (Gee, you say, that could be any four or five days in the last couple of weeks.)
Banks are having a hard time getting money, so they are not overly generous in their lending processes.
Money is becoming harder and harder to get for expansion, for development―even for working capital.
People are using the "d" word (depression) and gallows humor is beginning to develop: In London they are producing a chocolate bar called Credit Crunch. It's supposed to be good, if you can afford the £4 price.
Nevertheless, even in this financial climate banks have money to lend to well-run businesses. Do you know how to enhance your business' credit-worthiness?
Click Full Article for a discussion of the Five Cs of Lending.
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Bader Martin has recently been named among the region's ten largest CPA firms by the Puget Sound Business Journal―up from number eleven on last year's list.
Significantly, we are the only firm among the top ten to improve our position this year!
Want to learn more about the latest happenings at Bader Martin?
Click Full Article for information.
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The subject matter contained in this newsletter is often complex, with nuances that cannot be fully described in a single article or announcement. It is therefore vital that you consult with us -- and your legal and investment advisors, as appropriate -- before implementing ideas contained in the newsletter. Bader Martin, PS is not responsible for misinterpretations, errors, or omissions related to the content of this newsletter. Nor are we responsible for its applicability to your personal, business, or tax situation.
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Full Newsletter 
After a turbulent week, Congress finally passed the "bailout" bill on Friday and President Bush quickly signed it into law. In addition to providing assistance to troubled financial institutions, the new law contains numerous tax provisions estimated at being worth more than $150 billion. Here is a quick rundown of some of the tax benefits, as well as a depreciation strategy that some businesses might be able to take advantage of under a law passed earlier this year.
Do you want to retire before reaching your full Social Security retirement age and work part-time? If so, you need to read this article so you can start planning to preserve your Social Security benefits. We'll explain the rules involving how much you can earn and still qualify for full Social Security benefits, along with when you will reach "full retirement age" in the eyes of the federal government.
