Maritta

Archive for March, 2010|Monthly archive page

In Uncategorized on March 21, 2010 at 8:40 pm

Pay close attention to the 1040 land mines to be sure you get everything to which you’re entitled and avoid a complicated tax mess.

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In Uncategorized on March 11, 2010 at 1:18 am

All businesses except partnerships must file an annual income tax return. Partnerships file an information return. The form you use depends on how your business is organized. Contact Maritta Lynn to find out which returns you must file based on the business entity established.

In Uncategorized on March 3, 2010 at 2:32 am

Many small businesses that invest in new property and equipment will be able to write off most or all of these purchases on their 2009 returns. The new law extends through 2009 the special 50 percent depreciation allowance, also known as bonus depreciation, and increased limits on the section 179 deduction, named for the relevant section of the Internal Revenue Code. Normally, businesses recover these capital investments through annual depreciation deductions spread over several years. Both of these provisions encourage these investments by enabling businesses to write them off more quickly.