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Business Tax Deductions
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No Pity for Rich Tax Cheats (WallStreet Journal via Yahoo! Finance)
A survey shows the public is becoming less tolerant of tax cheating for people of all incomes -- especially by the wealthy. New CCH Tax Briefing: Senate Passes Recovery Plan With Expanded Homebuyer's Credit, Car Incentives, AMT Patch (PR Newswire via Yahoo! Finance)
The Senate today passed its version of The American Recovery and Reinvestment Act of 2009 by a vote of 61 to 37, setting the stage for reconciliation of Senate and House versions of the bill and final passage, according to CCH, a Wolters Kluwer business and a leading provider of tax, accounting and audit information, software and services . Non-payers can add to your pain at tax time (The Record)
It's a bit of insult added to injury — small-business owners who had non-paying customers in 2008 are likely to find they can't take the bad debts as deductions on their income tax returns. Area real estate, auto leaders optimistic about tax breaks (Rochester Democrat and Chronicle)
Tax credits and deductions could benefit people looking to buy a home or a new vehicle. SUSAN TOMPOR: Tax break could spark car sales (Detroit Free Press)
Could more new wheels move off dealer lots in 2009 if a special tax break for car buyers ends up being engineered in Washington? The Senate stimulus bill creates a tax break for interest paid on car loans, as well as a deduction for state sales tax and excise sales tax paid on new cars and trucks. Buyers could save several hundred dollars. SMALL TALK: Nonpayers can hurt small businesses at tax time (Pittsburgh Post-Gazette)
NEW YORK -- It's a bit of insult added to injury -- small-business owners who had nonpaying customers in 2008 are likely to find they can't take the bad debts as deductions on their income tax returns. BusinessNorth Exclusives Pawlenty proposes tax cut for business (BusinessNorth)
Will cutting business taxes stimulate job growth in Minnesota? Minnesota’s Gov. Tim Pawlenty argues it will. 'Bad debt' is tax time quandary (The Morning Call)
Businesses will have hard time deducting cost of nonpaying customers. It's a bit of insult added to injury -- small-business owners who had non-paying customers in 2008 are likely to find they can't take the bad debts as deductions on their income tax returns. New Tax Tips for Businesses (Entrpreneur.com)
Take advantage of every new tax break on your '08 return. Is tax honesty just for the little people? Ron Bartizek Business LOCAL (Times Leader)
Treasury Secretary Timothy Geithner may be lucky that Frank Pinnacoli Sr. retired from the Internal Revenue Service in 2007. Now a partner in a Kingston accounting and tax preparation firm, Pinnacoli finds it hard to believe Geithner was unaware that he owed payroll taxes – what shows up on most people’s pay stubs as Social Security and Medicare deductions – during the time he worked for the ...
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