Volume 2 Issue 1, September 2009
 
 
Health CareWhat Government Run Health Care Means for You
Roy Prestwood & Chris Solomon
Heard, McElroy & Vestal, LLP

Details of the new public health care bill change almost daily. To make sense of it all, we have compiled a list of bullet points to show what is currently being discussed. Read on to learn how a government run health care option may affect you as a business owner and individual. Read Full Article

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Louisiana Offers School Tuition Tax Break
Debbie Gibbs
Heard, McElroy & Vestal, LLP


If you pay tuition costs and expenses to a private school or a public school operated by a public college or university, Louisiana just made Back to School time a little sweeter. This article explains how you can lower your Louisiana taxable income for your 2009 tax return.  Read Full Article

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Thinking About Selling Your Business,
Think About Waiting Until 2010

John Schmidt & Chris Solomon
Heard, McElroy & Vestal, LLP


Savings AheadGovernor Jindal recently signed Act No. 457 into law providing significant incentive for business owners that are contemplating the sell of their business. The new law, effective January 1, 2010, provides an exclusion from individual income tax for the gain from the sale of a Louisiana business. Here, we answer some common questions relating to the law and fill you in on all the details. Read Full Article

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Research & Development Credit Very Advantageous
Lauren Stinson
Heard, McElroy & Vestal, LLP

You may not know it, but if you own a business and have worked to enhance any of your business components or significantly reduce costs, you may be eligible for the research and development credit. light bulbLouisiana recently doubled the credit amount available from the state making this credit very advantageous. A business can now receive up to a 20% federal research and development credit on qualifying expenses and up to a 40% state credit. Read the full article to find out more specifics on what the R&D credit is, who and what qualifies, and just how advantageous it can be. Read Full Article

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HMV Supports United Way

Giving back to our surrounding communities has always been a top priority for HMV. Each year the firm elects to participate in the United Way's Pacesetter campaign. As a Pacesetter company, we start and finish our campaign prior to the United Way's general community campaign in an effort to 'set the pace for giving' for others to follow. We recently wrapped up our 2009 Pacesetter Campaign with record firm numbers. Together with our employees, we raised a total of $25,933 for the United Way. We are honored to be a part of this important community iniative.

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In This Issue...
Public Health Option
School Tuition Tax Break
Selling Your Business?
R&D Credit Doubles
HMV Supports United Way


Upcoming Events

The third and final session of our 2009 Executive Seminar Series, Accounting and Tax Forecast  - Looking Ahead to 2010, will be held October 29. Click here to view a pdf of our invitation for more information and how you can rsvp.
 


Reporting Requirements for Sale of Timber Change

The reporting requirements for lump-sum timber sales occurring on or after May 28, 2009 have changed. Click here for more details.
 


HMV e-Newsletter:

More Informative Articles More Often

We are increasing the frequency of our newsletter from quarterly to bi-monthly. We just coudn't squeeze all of the important information we want you to know in four issues a year. You will now receive our newsletter in your inbox every two months.
 


HMV Welcomes Walker Coburn to the Audit Department
Walker Coburn joined HMV as a senior auditor in early July. He received his Bachelor of Business Administration in Accounting and a Masters of Accountancy from Millsaps College in Jackson, MS. Having worked for KPMG in Jackson and Memphis, and most recently as a financial reporting advisor for FedEx Corporate, Walker recently returned to his hometown of Shreveport.
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