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The standard Mileage Rate is Split for 2008 From January 1, through June 30, 2008 is 50 1/2 cents per mile From July 1, 2008 though December 31, 2008 is .58 1/2 cents per mile 1. 2009 Standard Mileage Rates Announced The IRS has issued Revenue Procedure 2008-72 announcing the 2009...

Here is a Court Case Concerning US Express Leasing, Inc. vs Illinois Department of Revenue, No 1-07-1204(Illinois Court of Appeals, Third Division. August 27, 2008 The Court has ruled that a commerical trucking company is subject to the state's motor fuel tax for the time spent idling off...

-------------------------------------------------------------------------------- Here are a couple of Questions that are asked from tax payer like you, It might pertain to you or not, but here are the questions Question: 1 John and Linda were married in 2006. Linda sold her principal...

HI ALL, WE ARE NOW IN NOVEMBER, 2008 How time flies, it's getting to that time of year again where you all will have to get all your receipts together for the person who does your taxes. Normally, from this time through Xmas you should be busy, depending on the company that you are...

THE 5 MOST IMPORTANT DECISIONS THAT YOU HAVE TO MAKE WHEN STARTING YOUR BUSINESS 1. Have a Business Plan a. Business Plans are used for Financing b. They provide a yardstick againist which future preformance will be measured c. They provide a framework for decision making and...

LA-MS-2008-47, Sept. 29, 2008 . WASHINGTON — Victims of Hurricane Gustav in Mississippi may qualify for tax relief from the Internal Revenue Service. Following severe storms and flooding on Aug. 28, the federal government declared Adams, Han****, Harrison, Washington and Wilkinson...

Sorry to inform everyone that the E-mail addresses fkatz1@ bellsouth.net and frankstaxservice1@ bellsouth.net is no longer working, It seems that we have had a problem yesterday with my account. I had to disconnect my home phone and DSL service due to the cost of my diabetic medications. and...

[b]For those of you that are a Full "C" Corporation and "S" Corporation Your tax return must be filed, with an extension by Monday September 15th. For those of you who never filed for and extension by March 15th, 2008, even if you file your return you still will be penalized a minimun of...

This is a copy of a press release, that the IRS issued in September 2008, through this release the IRS will implament more audits on the following business persons, Taxpayers who file Small Corporations (1120S) especially if no Salary, or any compensation for officers is not taken...

Understanding New Tax Changes Can Yield Big Benefits There are Three New Provisions That Taxpayers Should Be Aware of in 2008. If you haven’t used a tax professional in the past, this just might be the year to start. The first half of 2008 has seen a number of laws, rate changes, and...

Hi All, TO ALL DRIVERS WHO FILED FOR AN EXTENSION TO FILE YOUR TAX RETURNS. I Hope That All of You have Made an Appointment With Your CPA's, Accountants, Tax Preparation Firms that Prepare Your Tax Returns. I know that most of them request that all information be in there offices no...

Hi All, This message would only pertain to thoughs of you who drive tractor/trailers. The company that you are leased to, if they did not tell you that you have to File Federal Form 2290 Heavy Highway Vehicle Use Tax Return by AUGUST 31th of each year. This is the filing deadline for...

Like-Kind Exchanges Under IRC Code Section 1031 This is a article posted directly from the IRS Web Site FS-2008-18, February 2008 WASHINGTON — Whenever you sell business or investment property and you have a gain, you generally have to pay tax on the gain at the time of sale. IRC...

In the paragraphs below you will find the forms of what types of business entities that are available. FORMS OF OWNERSHIP One of the first decisions that you will have to make as a business owner is how the company should be structured. This decision will have long-term implications, so...

I was entering the information for this week, but I hit the wrong button and all was lost, I will rewrite it on Monday, Sorry. Does anyone have any questions that I can answer for you, It does not make any difference weather its during tax filing season, if you filed for an extension...

HI ALL, THIS IS THE FINAL AND THIRD STAGE OF THE LLC, IF THESE DECISIONS ARE NOT MADE. YOU WILL HAVE PROBLEMS. PART III LLC'S THE UGLY 1. Improper formation of the LLC- Failure to meet taxpayers needs A. When the LLC is not the proper formation: 1. Business...

AD: PART II LLC Disadvantages While a limited liability company (LLC) offers many advantages over other forms of business entity, there are also some disadvantages. Some of the drawbacks to selecting an LLC over another entity are: * Earnings of most members of an LLC are generally...

[B]This is a Post From the Internal Revenue Service regarding FLOOD, STORMS TORNADO, AND , tHIS WAS POSTED YESTERDAY Victims of Floods, Storms and Tornadoes In Six States Now Have Until Aug. 29 to File Certain Returns IR-2008-89, July 14, 2008 WASHINGTON ––The Internal Revenue...

LIMITED LIABILITY COMPANIES; IN 3 PARTS- GOOD , BAD AND THE UGLY PART 1, THE GOOD: 1. Much less administrative paperwork and record keeping than a Corporation: 2. Pass-through taxation, no double taxation, unless the LLC elects to be taxed as a "C" Corporation 3. Limited liability...

On December 20, 2007 President Bush signed into law the MORTGAGE RELEIF ACT OF 2007. If you had any of the three provisions and your Accountant, CPA, or Tax Preparer did not tell you about it, Even if it did not pertain to you. You are missing out on tax updates that you should of known...