Newsletter for March 7, 2008

Tax Savings on Hiring Your Children 
As business owners, you should be aware that you can save family income and payroll taxes by putting your children on the payroll.  You may be able to turn high-taxed income into tax-free or low-taxed income, achieve social security savings, and even make retirement plan contributions for your child.  Beginning next year when changes to the “kiddie tax” go into effect, employing a child who is 18 or a full-time college student who is age 19-23 can save taxes on their unearned income.  Below are some of the key considerations. Read more...

Suggested Budget Guidelines
Want to develop a budget but don’t know where to start?  Here are some general guidelines in developing an effective budget. Read more...  
 

Accounting Tips
As the end of winter approaches, so does the due date for your business tax returns.  All corporate tax returns, including those for S corporations, need to be filed by March 17th or an extension must be filed. Read more...

QuickBooks Corner:  Accountants Copy
Do you need to send a copy of your QuickBook’s file to your accountant?  Making an accountants copy is a quick and safe way to copy and make your information available to your accountant.  The following is a step by step process: Read more...

Disclaimer of Liability
We take great care in the preparation of our articles and announcements. We also have a process of reviewing articles when major changes take place. The business, legal, and tax climate is constantly changing especially when reviewed on an industry basis.

It may be very important to consult with us or your Investment Advisor before implementing ideas contained in articles and announcements. Many ideas have complexities and nuances that cannot be adequately detailed in the articles or announcements.

We are not responsible for errors, misinterpretations, or omissions related to these articles or announcements. Nor are we responsible for the applicability to your personal, business, or tax situation. Please consult us first to discuss applying any articles or announcements to your specific situation.  We may be reached at (317) 842-4466 and welcome your feedback.

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