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January 2010 - It's Tax Time again! We're back in Cordova, TN due to a delay in the relocation we are trying to achieve. It's still in the works, but won't happen before June 2010 at the earliest. Check out our Newsletter to see the latest information about the First-Time Homebuyer Credit that Congress passed since it could affect your 2008 or 2009 tax return. There is also information on the IRS website about extensions for the School Teachers Credit, deductibility of Real Estate Taxes for those taxpayers that don't itemize, and information about credits and deductions for college students' tuition and fees. The IRS will be looking more at the tuition deductions due to fraudulent claims in the past. More qualifier checks will likely be implemented at the IRS in the near future.

January 2009 - It's Tax Time again! Be aware that you may have received a stimulus payment in 2008. That letter regarding your stimulus payment will be needed with your tax information this year so it can be determined if you receive a rebate credit - that is the amount of the rebate that you were qualified for this year, less the amount already received. Be aware that even if you didn't qualify for as much in 2008 as initially thought, you WILL NOT have to repay any excess the government sent you. If you do not have the rebate letter, go to How Much Was My 2008 Stimulus Payment? This is part of the IRS website. You can learn more about the stimulus payment received in 2008 on the IRS website as well.

September 2008 - We have become affiliated with MyCorporation.com. This company assists in the formation of LLCs and Corporations. If you are interested in creating an LLC or incorporating your new or existing business, please contact them about the formation and the legal aspects of such entities. Don't forget to contact us, though. We'll need to know what type of entity you are creating so that the proper tax forms are completed. We can also advise you on which would be the most beneficial entity for tax purposes and help make the proper elections if you select an LLC.

August 2008 - The kids are back in school, or will be soon. Will your college student be able to be claimed on your tax return? If they are on a scholarship or pay their own way, they may be able to claim themselves. You may clam them if the student is under 24 years old and you pay over 50% of their support. Also, keep in mind that some scholarships may end up being taxable, especially if the scholarship is for items not normally a deductible education expense. Call to see if you can claim your college student.

July 2008 - The Economic Stimulus Checks have being sent! The first direct deposits were sent on May 2nd. If you did not receive a payment, it could be because you have not yet filed a 2007 tax return, owed back taxes or other federal obligations such as child support or student loans. You can also find more information on the IRS website at:

http://www.irs.gov/individuals/article/0,,id=181665,00.html.

Just because you may not have received a stimulus payment this summer, does not mean you won't get it later. When the 2008 tax return is filed, it will determine the ultimate eligibility for the stimulus payment. Although you may not have been eligible in 2007, you may be eligible for the payment in 2008 and that will be added to your tax refund.

May 2008 - The Economic Stimulus Checks are being sent! The first direct deposits were sent on May 2nd and are sent on based upon the last two numbers of the primary taxpayer's social security number. If you are wondering if you will receive a payment, see the Stimulus Advance Rebate Worksheet. You can also find more information on the IRS website at:

http://www.irs.gov/individuals/article/0,,id=181665,00.html.

Thanks for a great tax season. I look forward to working with all of you again. Don't hesitate to call during the year for tax planning. Planning ahead saves you from surprises later.

February 2008 - An Economic Stimulus Package has been passed! Most Americans will receive a payment this summer. All you need to do to receive it is file a 2007 tax return. If you don't normally file, you can file a 1040A with "Stimulus Package" written across the top. Please see the following:

January 2008 - Tax Season is around the corner! Remember that the tax deadline has NOT been extended even though the IRS will be delayed in processing about 13 Million returns due to the delay in passing the AMT patch.

IRS News Release regarding the delay in processing anticipated for those affected by the AMT patch. Be aware this is only a temporary fix. Congress still has to do some balancing that could affect businesses in the future and make this "patch" a permanent fix. Consider writing your Congressman and asking them to vote to make many of our current tax deductions that will "sunset" in 2010 permanent.

June 2007 - Our biggest news event today is that we have a newly designed website! Thanks to John Summers for designing the new logo above and to Accent Web Solutions for assisting us in putting the website together. We couldn't have done it without them.

We also have a new phone number. Please update your records to reflect (208) 557-3013 as the new phone number for Behling Small Business Services. Thanks!