Archives for 2010

Holiday Donations – Good for the Spirit, Good for the Tax Form

The winter holidays are in full swing and the new year (and tax season) are just around the corner. As you start your holiday shopping, consider donating some of your unused items, such as coats and toys, to charity. Not only will you be able to help someone in need, but you may also qualify for a deduction on your 2010 tax return. Before you gather everything into a bag and toss it in the nearest Salvation Army drop box, remember that in order to ensure your donation earns you a deduction, … [Read more...]

Finding the Right Accountant for Your Small Business

It is essential that your business has an actual accounting system set up, rather than a filing cabinet or box full of receipts.  A good accountant can help you set up a budget and keep track of important numbers for your business, including transactions, accounts receivable, daily operations expenses, and employee wages.  Keeping track of such data will also be useful if your business is audited by the IRS, a possibility that is higher than ever before … [Read more...]

Military Spouses Residency Relief Act

As the year comes to an end, tax season is approaching once again, and if you are a military spouse, you should be aware of an act signed into law last November. http://frwebgate.access.gpo.gov/cgi-bin/getdoc.cgi?dbname=111_cong_bills&docid=f:s475enr.txt.pdf An amendment to the Servicemembers Civil Relief Act, called the Military Spouses Residency Relief Act states that “spouses of military personnel who move because their spouse is posted for military duty will be treated as not having changed … [Read more...]