business tax law – Latest business tax law news – Christie proposes 33 bills aimed at property tax relief and …
I hope you’ve been enjoying my posts lately. I thought I might do something different today and rustle up a few bits of info from around the WWW. These are some of the news items and blog posts that have been popular over the last few weeks. Leave me your thoughts.
Christie proposes 33 bills aimed at property tax relief and …
With this package of bills, we are now taking action to bring to an end the current property tax crisis and giving people real relief. After talking about the direction we need to move, we now need to get down to business and enact … Shared services reform – when local units decide to share services current law requires buyout of union contracts, bumping and other civil service protections that destroy the efficiencies of the merger; this proposal eliminates certain …
Inexpensive Microsites Can Ramp Up SEO For Any Business
Second, if our law firm set up a microsite solely about its tax services, that microsite could have a great deal of detailed information about taxes. This additional detailed information offers opportunities to create far more specific …
Starting your own business in France | Grenoble Life
In France, companies are obliged to pay a tax towards the training of their employees. This tax is often collected by organisations which manage the training funds. These organisations will only accept training courses run by companies … It is worth mentioning in conclusion that a law was passed in 2008 making it even easier for freelance teachers. The status of Auto-entrepreneur is designed for people who may have multiple employers as well as working for themselves. …
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2009 may have been a tough year economically, but it has been a major year for new tax breaks. The latest is a new tax break announced by the IRS for business losses.
As you might imagine, there have been a number of businesses operating at a loss during 2009. The general rule with business losses is that you can carry them back two years and apply them to income to gain a tax refund. The new tax break allows the loss to be carried back between three and six years. Yes, back to when times were good and a few of us where actually making something called a “profit” instead of sweating our bills. Ah, the good old days! The magic provision is a part of The Worker, Homeownership and Business Assistance Act. It was signed into law on November 1, 2009 by President Obama.
At this point, you might be having a sense of deja vu. Wasn’t this tax break issued a year or two ago? Don’t worry. You are not going crazy. Nearly the same exact tax break was issued as part of the Stimulus act that was issued last February. The difference has to do with a cap. The Stimulus provision was restricted to businesses with less than $15 million in revenues each year. The new provision in The Worker, Homeownership and Business Assistance Act gets rid of the $15 million dollar cap and makes the tax break available to all businesses.
What if the additional years don’t account for all your losses? After all, you might of made a small profit over the last six tax years, but had a huge loss in 2009. In such a scenario, you can carry forward the loss for up to 20 years. Put another way, you can apply it to future gains.
In these times of tight credit, it makes sense to look for funding wherever you can find it. In this case, you might find a silver lining to a bad year by applying 2009 losses to past gains for a nice tax refund.
Richard A. Chapo writes about taxes for BusinessTaxRecovery.com.
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If you’ve been keeping up with my blog posts lately you’ll know I’ve come to adding a few news posts from around the web on this subject. I’ve got a couple more today that are new and updated, so let me know what you think of em…
Small Business/Retail Alan Greenspan’s support of tax cuts a boon …
Small Firms Would Be Biggest Benefactors of Tort Reform Legislation Alan Greenspan's support for tax relief will help small businesses survive.
21st Century Taxation: Small Business Council State Tax Rankings …
On April 27, 2010, the Small Business & Entrepreneurship Council released a report, “Business Tax Index 2010: Best to Worst State Tax Systems for Entrepreneurship and Small Business.” This report ranks the states and the District of …
Business License Fees May Appear On Tax Rolls :: Business Licenses …
The City Council in Alameda, California is discussing a new ordinance that would place delinquent business license fees on the property tax rolls. This ordinance would allow the city to collect business license taxes from property …
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