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Monthly Tax Tip - July 2007
Although the Small Business and Work Opportunity Tax Act of 2007 (2007 Small Business Act) dominated the tax news in the second quarter of 2007, there were other important tax developments that may affect you, your family, and your livelihood. The new law changes and other key developments are summarized below.
Monthly Tax Tip - August 2007
Several of our clients have told us that they have received email from the Internal Revenue Service requesting information. The IRS does not email taxpayers and the email is a scam or attempt to place a virus on your computer. Reprinted below from the Internal Revenue Service's website are the most recent warnings issued.
Monthly Tax Tip - September 2007
This month we are bringing certain legislative developments to your attention that may have significant implications for business if you employ independent contractors in Massachusetts. Although the legislation was passed in 2004, efforts to lessen the impact have not been successful. The consequences are such that we feel our clients should be reminded of the details.
Monthly Tax Tip - October 2007
As the end of the year approaches, it is a good time for you to engage in tax planning, which will be more challenging than usual because of uncertainty over whether and how Congress will extend AMT relief to avoid millions more becoming entrapped by it in 2007, and whether Congress will extend a number of important tax breaks expiring at the end of 2007.
Monthly Tax Tip - December 2007
The 2007 tax return filing season is fast approaching and we would like to remind you of the following requirements.
Monthly Tax Tip - January 2008
As you may know, new laws carrying important tax changes for individuals were enacted in late December 2007. Most of the changes first apply in 2008 but some apply retroactively to the beginning of 2007 and aren't even reflected on tax forms that the IRS has already sent out. The most important change prevents many middle-income taxpayers from being snared by the alternative minium tax (AMT) for 2007. But there were other pro-taxpayers changes as well. A brief description of these new tax breaks follows.
Monthly Tax Tip - February 2008
The tax news last quarter was dominated by several important new tax laws that were passed in late 2007. They include relief for 2007 only from the AMT (alternative minimum tax) for middle class taxpayers, relief for individuals who might otherwise have owed tax from foreclosure of their home or a debt workout with their lender, other tax benefits for homeowners, and a new tax break for voluntary responders, such as volunteer firefighters. But a number of other important tax developments occurred in the past three months. Because they may affect you, your family, and your livelihood, we have summarized them below.
Monthly Tax Tip - March 2008
You've probably heard that the government is going to be sending rebate checks to most Americans in an effort to stimulate the economy. This letter explains, among other items, who gets rebates, how they are calculated, how higher income can reduce or eliminate a rebate, and what, if anything extra, you'll need to do to get one.
Monthly Tax Tip - April 2008
While the Economic Stimulus Act of 2008 was the most significant development in the first quarter of 2008, many other tax developments may affect you, your family, and your livelihood. The new law changes and other key developments are summarized below.
Articles written by Quin, Rickard, Lipshires & Grupp, LLP.
Nursing Home Costs Continue to Climb
The average cost of a private room in a nursing home in the U.S. is $70,080 a year, or $192 a day, according to the 2004 MetLife Market Survey of Nursing Home and Home Care Costs. The highest rates for a private room in 2005 were reported in the state of Alaska, where the cost is $204,765 a year or $561 a day, on average.
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