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Research & Development Credit Very Advantageous
– September 15, 2009
What is the R&D credit?
Once a difficult credit to obtain and often not worth a business' effort, the research and development (R&D) credit is now very advantageous, especially in Louisiana. In July 2009 the possible Louisiana R&D credit amount doubled! ...
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Change in Reporting Requirements of Timber Sales
– September 15, 2009
The reporting requirements for lump-sum timber sales occurring on or after May 28, 2009 have changed. The Internal Revenue Code section 6045(e)(2) now requires the purchaser of standing timber to report the sale to the IRS using Form 1099-S (Proceeds from Real Estate Transactions). THe Form 1099-S must be furnished to the seller ...
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Reduce Stress At Tax Time With Good Records
– August 31, 2009
Although most people won't be filing their tax returns for several months, the dog days of summer are actually a great time to start planning for the tax filing season by ensuring your records are organized. Whether you are an individual taxpayer or a business owner, you can avoid headaches at tax time with good records because ...
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Adherence to New Federal Regulations
– July 23, 2009
Heard, McElroy & Vestal places a high value on your privacy and the security of your personal information. We have policies in place to safeguard the information you provide to us, whether it is in paper or electronic format. ...
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Take Advantage of Recovery Act Benefits
– July 20, 2009
With 2009 now half over, the Internal Revenue Service reminds taxpayers to take advantage of the numerous tax breaks made available earlier this year in the American Recovery and Reinvestment Act (ARRA). ...
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John Dean Named Circle of Excellence Award Winner
– July 14, 2009
Heard, McElroy & Vestal Managing Partner John Dean was one of eight people to receive the Louisiana State University in Shreveport 2009 Circle of Excellence Award. The Circle of Excellence Award honors outstanding alumni who are leaders in the community, region or nation, and who are using their degrees in a significant manner, ...
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Top Seven Tips for Taxpayers Starting a New Business
– July 13, 2009
Anyone starting a new business this summer should be aware of their federal tax responsibilities. Here are the top seven things the IRS wants you to know if you plan on opening a new business this year. ...
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2009 LA Sales Tax Holiday August 7 & 8
– July 13, 2009
The annual 2009 Louisiana Sales Tax Holiday takes place on Friday, August 7, and Saturday, August 8. On these two days, most retail purchases will be exempt from the four-percent state sales tax. ...
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Obama Administration: Fiscal Year 2010 Revenue Proposals
– July 7, 2009
On May 11, 2009, the Obama Administration released their revenue proposals in the Treasury Department's General Explanations of the Administration's Fiscal Year 2010 Revenue Proposals, also known as the Green Book. Although the Green Book does not include proposed statutory language, it contains details about what they intend t ...
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What Kinds of Moving Expenses Are Deductible?
– July 2, 2009
Only "qualified moving expenses" under the tax law are generally deductible. Qualified moving expenses are incurred to move the taxpayer, members of the taxpayer's household, and their personal belongings. For moving expenses to be deductible, however, a move must: ...
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