Archives for July 2008

Bush Signs Housing Relief Bill Into Law

Bush Signs Housing Relief Bill Into Law

Yesterday President Bush signed into law the Housing and Economic Recovery Act of 2008. HERA contains several significant tax cuts designed to help troubled homeowners and the equally troubled home mortgage market. The major tax provisions are:…

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Tax Rebates Stimulate Growth: Good News for the Economy

Tax Rebates Stimulate Growth: Good News for the Economy

The second quarter of 2008 showed an increase in economic growth that many economists attribute to the Bush tax rebates.  According to the Associated Press, The U.S. Commerce Department reports that, [G]ross domestic product, or GDP, increased…

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How to Choose a Tax Advisor

How to Choose a Tax Advisor

A 2004 article that appeared in CNN Money.Com on how to choose a tax advisor is as relevant today as it was back then.  In the article, Senior staff writer Jeanne Sahadi gives the following sound advice:…

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Seminars Not Deductible for Day Traders

Seminars Not Deductible for Day Traders

TaxProf blogger, Paul Caron, blogged yesterday’s Tax Court decision handed down in Serrato v. Commissioner.  The court said that seminars and similar types of meetings are non deductible under Section 212(1) (expenditures for the production of income) even…

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Florida Regularly Prosecutes Individuals who Fail to Remit Collected Sales Taxes

Florida Regularly Prosecutes Individuals who Fail to Remit Collected Sales Taxes

When businesses charge sales tax to their customers, collect that tax and then fail to remit it to the Department of Revenue, the people responsible for that failure could be charged with theft of state…

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