• First Time Homebuyers Credit EXTENDED to April 30, 2010

    It will not lapse on Nov 30th.  If the sales contract is signed by April 30, 2010 and CLOSED by June 30, 2010 you qualify for the extended credit. […]Read More… from First Time Homebuyers Credit EXTENDED to April 30, 2010

  • Homebuyers Tax Credit for EXISTING Home Owners!

    If you’ve owned a home for 5 out of the last 8 years CONSECUTIVELY, you qualify for a tax credit up to $6,500 if you purchase another PRIMARY RESIDENCE aftter November 6, 2009 and before May 1, 2010. The EXISTING Home Owner’s credit of up to $6,500 and the First Time Home Buyer’s Credit of up…

  • Late Filing of S Corps and Partnerships

    The Penalty for Late Filing of S Corps or Partnerships is now $195 per monthper shareholder or partner for up to 12 months (more than twice the previous penalty).  It does not matter if he entity owes tax or not, this is a late filing of the paperwork.  It would INCLUDE not filing an extension.  DON’T WAIT TILL THE LAST MINUTE! […]Read More… from Late Filing of S Corps and…

  • Tax Preparers Beware

    Currently, any tax preparer with 250 returns is required to e-file.  After 2010 the threshold drops to TEN! […]Read More… from Tax Preparers Beware

  • Small Business Loans (SBA)

    The current stimulus allows a small business about to default on a debt to borrow up to $35,000 from a lender to assist in making payments. The SBA (Small Business Administration) will pay the interest AND repayment of the loan principal is deferred for 12 months!  This is known as the American Recovery Capital (ARC)…

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