Advisory Services – Types of Financial Planners Less than 20 percent of all American households have a tax adviser or a personal financial planner. Why? It can be daunting to entrust your financial future to a stranger. And it’s tough knowing where to turn for help. Here we use the term “financial adviser” to cover all...

Claiming Depreciation Deductions #104 If you are completing your own tax returns, you may require a more detailed explanation of exactly how to report depreciation deductions. In most cases, your depreciation deductions will be entered on IRS Form 4562, “Depreciation and Amortization,” and then the total...

Depreciation – First-Year Expensing And Timing of Purchase #102 Section 179 of the IRS Tax Code allows a small business to deduct, for the current tax year, the full purchase price of financed or leased equipment that qualifies for the deduction. The equipment purchased or leased...

Types of Taxes - Federal Income #104 While some states do not have an income tax, all residents and all citizens of the United States are subject to the federal income tax. Not everyone, however, must file a return. The requirements ...

Advisory Services – Section 1244 Stock #104 If you’re contemplating an investment in a new business venture, it’s certainly somewhat risky, given the current economic conditions. Still, you may want to help a friend or relative get a new business...

Expenses – Local Transportation, Car #104 Maximizing deductions in the current economic climate is vital. Many small businesses rely on local travel as an important part of day-to-day operations, and expenses associated with local business...

Types of Taxes – “Green” Energy Tax Savings #112 The IRS reminds individual and business taxpayers that many energy-saving steps taken in 2009 may result in bigger tax savings next year. The recently enacted American Recovery and Reinvestment...

2009 Stimulus Primer for Small Businesses #121 The American Recovery and Reinvestment Act (ARRA), enacted in February of 2009, created, extended or expanded a variety of business tax deductions and credits. Because some of these changes...

Inflation-Adjusted Tax Numbers for 2009 #107 Tax numbers change frequently. This tax brief lists certain inflation-adjusted numbers for use in preparing 2008 and 2009 tax returns. Be sure to review the instructions for any tax form you are completing to confirm...