Tax Tips Small Business

Tax Credit Available for Hiring Certain Employees
Work Opportunity Tax Credit saves employers tax dollars

The Work Opportunity Tax Credit (WOTC) is available to employers who hire individuals from one of nine targeted groups. Recent legislation extended the credit through August 31, 2011. To take the credit, the employee(s) you hire must be from one of the following targeted groups:
Read more...

Small Business Quick Tip

Instead of deducting the actual expenses for the business use of your vehicle, opt for the standard mileage rate. In 2009, you can deduct 55 cents for each business mile you drive.
Welcome to Don Brooks & Associates Online Office
Spend Some Time

Explore our Online Office. There are many different ways to use the services here. You can:

  • Learn about the services we offer.
  • Stay Alert to tax and accounting news.
  • Send us Your e-mail Address to receive important announcements.
  • Link to a variety of news and other helpful sites.
  • Take Advantage of numerous tax tips.

Please browse the pages of this site and feel free to e-mail any questions, suggestions or other feedback. This web site is meant to be an extension of services provided to you.

Visit often as additional news and helpful information will be continually added in an effort to serve you better.

 
 
New Legislation Concerning Business and Payroll

Legislation signed into law earlier this year makes two new credits available to employers.
Read more...
 
IRS Proposes New Registration, Testing and Continuing Education Requirements for Tax Return Preparers Not Already Subject to Oversight

The Internal Revenue Services announced Monday, January 4, 2010, that it plans to require tax preparers to pass a competency test and register with the government to better police a largely unregulated industry used by most taxpayers.

Read more...
 
Saturday, 04 September 2010
EASEAL_L

What is an Enrolled Agent and why should I care?

Click Here to find out

 

find-us-on-facebook

 

Tax Tips Personal

Let the Sun Shine
Certain solar-powered improvements are eligible for a tax credit

You are allowed a credit for 30 percent of certain expenditures that increase the energy efficiency of your personal residence. Costs eligible for the credit include qualified solar electric property expenditures, qualified solar water heating property expenditures, and qualified fuel cell property expenditures. The credit is available for residential energy-efficient property placed in service in 2006, 2007, and 2008. There is no requirement that property be new to qualify.
Read more...

Personal Quick Tip

It doesn't appear that a college education will get cheaper any time soon. Look into establishing a qualified tuition plan for your children. The earnings in the account grow tax-free. As long as the funds are spent on qualified education expenses, there are no tax consequences. Plus, there may be an added tax benefit at your state level.