Feb 21
The number one most important tax tip we can pass on to you is file electronically!
Feb 16
The big homebuilders are lining up for their tax refund, thanks to an expansion of stimulus legislation. Toll Brothers announced that it will be receiving a 2009 tax refund of $162 million. Lennar estimates a whopping $320 million anticipated tax refund!
But here’s the good news for your business — you don’t need to be a massive corporation with a powerful Washington DC lobby to get your own little bailout package! If your once flourishing business has taken a hit in 2008 and 2009, you might not need to see red anymore.
Last year, we discussed the the net operating loss carryback rules when they were available only to businesses with gross receipts under $15 million.
Feb 10
If you have any tax skeletons in your closet, beware of the IRS rat. They’re everywhere, scurrying about our small and large business in search of fodder; running rampant in our accounting departments, our social circles and yes, even our homes.
Indeed, a family law attorney once told me, spurned ex-wives sing their songs of bittersweet vengeance to the IRS.
It’s true. The Internal Revenue Service actually pays people to turn in tax cheats.
Correction; it pays them in theory.
The IRS has a special program, the Whistleblower Program, designed to entice citizens to turn informer. Pre-2006, this award was discretionary.
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