Plan to maximize business tax incentives
Friday, March 18th, 2011
Congress provided business tax incentives in 2010 in the Small Business Jobs Act and the Tax Relief Act. Strategically applying these business tax incentives together can be lucrative to businesses that are in a position to use them. We’re busy this time of year preparing tax returns for our clients. But we’re not too busy […]
Read More »Net operating loss carryback deadlines loom
Thursday, July 15th, 2010
If your business suffered a net operating loss (NOL) in 2008 or 2009 (or a 2007 fiscal year), you may elect to carry back that loss up to 5 years and recover taxes previously paid. You must make the election on a timely filed return, including extensions. The deadline for electing the extended net operating loss carryback […]
Read More »IRS gives some solace in a sad story
Friday, June 18th, 2010
About five years ago, a police officer and his wife decided to use their retirement money to build their dream home in the Smokies. They bought a pretty lot and a log home kit, and contracted with a local builder to erect it. From the beginning, the construction process went terribly wrong. Errors compounded so much that they stopped […]
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