Looking to save you money one tax dollar at a time
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JOE H. HICKS
Certified Public Accountant
4403 Harbinger, Mesquite, TX 75150
Phone: 972-329-5040 Fax: 866-234-1249
For information concerning Joe as an Investment Advisor Representatives visit http://www.finra.org
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Our 2009 Tax Organizer will be available shortly
Year-end Tax Planning - Starting now
could yield dividends
This is an overview of some of the tax laws. For more information I
encourage you to set an appoint in October or November
Provisions ending in 2009
Some of these provisions may be extended but are planed to expire at the
end of 2009
Extension of the estate tax, with exemption amount of $3.5
milliion
Extension of the individual Alternative Minimum Tax
"patch"
Extension of the R&D credit
Longer NOL carrybacks
Unemployment compensation
New car purchases sales tax deduction
First-time homebuyer credit
Bonus depreciation
Code Section 179 expense
Individual estimated tax payments
Required minimum distributions
The itemized state and local sales tax deduction
The higher education above the line tuition deduction
The additional standard deduction for real property taxes
15 year cost recovery for leasehold and restaurant improvements
Provisions Running through 2010
American Opportunity Credit
Public transportation fringe benefits
Residential energy property credit
Making work pay credit
Cancellation of debt income
2010 Roth Conversion
Anticipated Tax Increases
Netting losses
Gambling Losses
Hobby Losses
Code Sec. 1231 losses
In conclusion year-end tax planning is getting more complicated, but also
more valuable for a large number of tax payers.
Best Regards
Joe H. Hicks Jr. CPA
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Additional
information can always be found at the IRS Web site, http://www.irs.gov.
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