News

A new first-time homebuyer credit of up to $7,500 has been designed by Congress to entice middle-class taxpayers to get off the sidelines and buy their first home. This temporary tax credit applies for homes... Continue Reading

At the end of May 2007 new tax legislation was signed into law. The following are some of the highlights (and lowlights) of the new legislation: Small Business Expensing. The new law extends and expands... Continue Reading

Many small and mid-size businesses operate as “S corporations” for income tax purposes. As an S corporation, the business does not compute a tax liability on its operations, but instead shareholders report... Continue Reading

Got debt. Got debt relief. Walked away. Now what? Generally, if you borrow money from a commercial lender and the lender later cancels or forgives either a portion or all of the debt, you may have to include... Continue Reading

In 2009 and 2010, the Making Work Pay provision of the American Recovery and Reinvestment Act will provide a refundable tax credit of up to $400 for working individuals and up to $800 for married taxpayers... Continue Reading

House Bill 261 On May 11, Georgia Governor Sonny Perdue signed House Bill 261 allowing  a tax credit for homes purchased between June 1, 2009 and November 30, 2009. The credit is the lesser of $1,800 or... Continue Reading

There is a temporary, partial exemption from state sales tax for the sale or use of natural or artificial gas, No. 2 fuel oil, No. 6 fuel oil, propane, petroleum coke, or coal that is used directly or... Continue Reading

Estate tax laws are often considered to be some of the most complicated in our tax code & keeping up with the reforms can be challenging. Taxpayers want to avoid leaving an inheritance to heirs and then... Continue Reading