CPAs Package

Back-office accounting to save you time and money.

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Business Package

Reduce your monthly costs, get guaranteed quality and FAST results.

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Franchise Package

Know what each store is doing the NEXT day. Don't guess about your cashflow.

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Family CFO Package

Get all the perks of an in-house bookkeeping team for your Family CFO.

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Changes to the Tax Code Could Affect Your 2009 Tax Return

The U.S. tax code is very fluid. Every year politics, local and national, drive substantial adjustments to how much you owe the government both as an individual and as a small business owner. For example, did you know that a recent change to the 2009 tax code means small business owners could make smaller estimated tax payments than in 2008? And this is just one of many. The U.S. government’s efforts to resuscitate the flagging economy have led to changes that may or may not reduce your tax burden. Here are just a few that may affect your tax return as an individual filer…

• Deductions for Credit or Debit Card Convenience Fees: If you pay your taxes or estimated taxes with a credit/debit card, you can deduct any convenience fees associated with the transaction.

• First-Time Homebuyer Credit: $8000 tax credit to qualified first-time homebuyers.

• Unemployment Compensation Credit: $2400 in unemployment compensation can be excluded from your gross income.

• Standard Business Mileage Rate Reduced: From 58.5 cents in 2008 to 55 cents for 2009.

• Alternative Minimum Tax (AMT) Exemption Amount Increased: The controversial AMT has seen its exemption amount raised to $46,700 for an individual ($70,950 if filing jointly).

These changes could mean thousands in savings to you and your family. One of the first steps in your 2009 tax preparation (and every year) should be a visit to the IRS website. Who knows how much money you could save?