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10 Questions pertaining to your taxes 1.Refund Inquiries Question: Can a person receive a tax refund if they are currently in a payment plan for prior year's federal taxes? Answer: As a condition of your agreement, any refund due you in a future year will be applied against the amount...

Hi All, I have some inportant information that you might consider signing up for if you want to save tax dollars, and bring your bottom line down. It called Biz plan: What Is BizPlan? BizPlan is a Section 105 Medical Reimbursement Plan. With BizPlan you can deduct 100% of your...

Hi All: it seems that there is no way that a driver can prove any additional expense, like laundry, showers (if not free), and other items that he spent $$$$ on and cannot get a receipt Below you will find a format for those expenses, Please Copy and paste to whatever printed format...

Standard Mileage Rate 2009 For 2009, the standard mileage rate for the cost of operating your car for business use is 55 cents per mile. Car expenses and use of the standard mileage rate are explained in chapter 4 of Publication 463, Travel, Entertainment, Gift, and Car Expenses...

-------------------------------------------------------------------------------- Again Hi All, Sorry for the late post from the Expo, but we had been out of town the first week of this month at the IRS and NSTP Updates in Orlando, When we returned home the second week we had to go back out...

We will be back to you next week with some tax updates that might help for the IRS Forums which we attended this week. , When we get back to the office on Monday 8/10/09, I will try and get everything in order and to post as much information that I can. Thank you Franklin Katz, ATP, PA, PB...

Attention All, Our Booth Number has changed to 145, opposite Panther and between Express-1 and Schneider frank

For Those of you who will be attending the Expo on July 24, and 25, I will be located at BOOTH 119. Come on over and meet with me and ask questions, I will try and answer all. If not I will research your qustion in the tax laws, I will have with me The Federal Tax Handbook for...

HI ALL, You will be able to find me at Booth 119, At the Expediters Expo So if you are able to get there, or take time off, Stop by and say Hello and please ask question if you like, that is what I am here for. Franklin Katz, ATP,PA, CPB Frank’s Tax and Business Service 120...

Do you know that you can receive a Free Transcript of your Tax Return Information - Actual Copies $57 Each There are two easy and convenient options for obtaining free copies of your federal tax return information - tax return transcripts and tax account transcripts - by phone or by mail. A tax...

Last Month on February 17, 2009 President Obama signed into law THE 2009 AMERICAN RECOVERY AND INVESTMENT ACT In the message I will highlight specific instances that you might be able to use for your 2009 tax return. 1. Making Work Pay Credit Eligible individuals are allowed a...

Here is some guidelines as to what should be saved after you file your tax return, I think this was posted a few times before, but here it is again, directly from the IRS web site. What Tax Records to Keep You probably already keep records in your daily routine. This includes keeping...

Reasons Why People Should Have You Do Their Taxes Sometimes it’s most important to convince yourself that the tax preparer you chose are worth the fees they charge for preparing taxes. Can they benefit you to reduce and advise their clients. Here are 6 things to remember the next time you...

Re: Depreciation; Purchased used 2007 St Trk answer that was posted on 1/12/2009 -------------------------------------------------------------------------------- Cargo vans are 5 years, straight trucks and tractors are 3 years, trailers are 6 years it also is a prorated in the first...

Tax Preparation Tips: Professional Advice With the holidays behind us, tax season is now in full gear. How can you prepare in order to avoid a stressful and potentially costly return? Here are a few tips from a tax professional to help you avoid any IRS anxiety in 2009 for your 2008 tax...

What Tax Records to Keep You probably already keep records in your daily routine. This includes keeping receipts for purchases and recording information in your checkbook. Keeping these and other records will help you avoid headaches at tax time. Good recordkeeping will help you remember the...

Information Release Immediate Release January 15, 2009 Business / Financial News / Personal Finance / Consume!r Interest Franklin Katz, ATP, PA, PB Frank’s Tax and Business Service 120 York Rd Kings Mountain, NC 28086-3151 (704) 739-4039 Fax: (704) 739-3934 National...

When you trade in your truck, van etc for the same. , you must file a form 8824 like kind exchanges and be figured as followed, I use only 12cent per mile to make it easier to explain: TRADE IN OF ASSETS Trade In of Assets When a business asset is used as a trade-in for similar...

This now is a Federal Law that all CPA's, EA's and any tax preparers will request from all taxpayers. which was Effective January 1, 2009. It is called " SECTION 7216 TAXPAYER CONSENT OR DISCLOSURE RULE 1. All tax preparer must have the taxpayers sign a CONSENT TO USE THEIR TAX...

On November 26, 2008 there was an article in the Wall Street Journal which the State of NY has gone after Tax Preparers and found that approximately 1300 firms, were not complying with federal and state tax regulations. this article was released by all four of the associations that I am a member...