Dear Members
All valued members with this publication are 100%
opt-in. Please be assured that your privacy will be maintained
and all records are kept confidential. No information would be
given out. If you ever want to unsubscribe, please check the
link at the bottom.
If member has any need to contact our ezine, email to subscribers@managementtaxtipsezine.com.
You can expect immediate attention!
================== SPONSOR MESSAGE
==========================
File Tax Online
Easy!
Simple Fill-in, All Forms
Done
Accuracy & 100%
Satisfaction!
H&R
Block
================== END SPONSOR MESSAGE
======================
Editor Note: Tax season is just passed
by. Our firm www.acallresources.com has
gained more valuable experience which will prepare us better for next
season. We are also just updating our affiliate program
offering high "recurring commission" monthly. Simply no
other like it or can beat it. Look forward for
our affiliates, specially our ezine subscribers join and produce
to create a big online hit story with us.
This month's Products Recommendations And Best
Deals
:
How To Earn Up
To 5,000.00/Month
Recurring Commission Each
Month
Easy Sales! Join Free Now.
Join
Program
Important
Dates:
January 31 2006 Federal
and State Employment Tax Due (Forms 941 & DE-6)
W-2,
Sales Tax
February 28 2006 Form
1099Misc Income Due To Independent Contractors
April 15 2006 Income Tax Due Sole Proprietorships & Partnerships
April 31 2006 Federal
and State Employment Tax Due (Forms 941 & DE-6)
Sales Tax
July 31
2006 Federal and
State Employment Tax Due (Forms 941 & DE-6)
Sales Tax
October 31
2006 Federal and State Employment Tax Due
(Forms 941 & DE-6)
Sales
Tax
CONTENTS
_Publisher's Article:
*****
It's Time To Plan for Uncle Sam
_Market's New
Inventions
_Special Contests
& Announcements
_Member' Free Website
Tools
_Classifield
Ads
Feature
Article:
It's Time To Plan
for Uncle Sam
With the end of the year approaching, every
business needs
tax planning. Unfortunately, many businesses fail to
fully
deduct eligible expenses. For instance, did you know
that
accrual basis corporations that pay out charitable
contributions
within two and one-half months after year-end may
deduct
these contributions on their tax return in the year
accrued?
To qualify for the accrued charitable contribution
deduction,
its board of directors must authorize the contribution
before
the end of the year and the donation must be made within
that
two-and-a-half month window. In addition, a copy of
the
resolution should be attached to the return, together with
a
declaration, signed by the principal officer, stating that
the
resolution was adopted during the tax
year.
However, charitable deductions are limited to 10
percent
of taxable income. Moreover, if the charitable
contribution
is limited, you are only allowed five years to carry
it forward.
After that time, any unused charitable contribution
carryovers
will be lost. If your company has any charitable
contribution
carryovers that are about to expire, every effort
should be
made to absorb them before making new
contributions.
New and Improved
Cont'
================== SPONSOR
MESSAGE =========================
"New" Jobs And Projects Listing Site!
How to allocate Current Active Hiring employers? P/T or F/T or Any
Time?
Are
you looking for Projects Listing To accept work projects?
New Jobs and projects listings updated regularly!
Register Free
accounts to get offers posted to your
mailbox.
http://www.acallresources.com/Jobs.html
================== END
SPONSOR MESSAGE =====================
Congress has created a new deduction
for manufacturers.
The deduction starts at 3 percent and grows to 9
percent
by 2010. Because of the way Congress designed
the
deduction, it effectively reduces the overall corporate
tax
rate for qualifying taxpayers.
Net operating losses (NOL) must be
carried back two years
(unless election made) then carried forward
20 years. If the
net operating loss is not utilized within these
periods, it
will expire without providing any benefit. Rather than
let
this asset expire without being utilized, it may
be
advantageous to undertake some basic tax planning
strategies
that will generate taxable income that can then be
offset by
the expiring net operating .
Companies should begin to review
their reserve accounts
for potential deductions, such as bad debts
or inventory
write-offs. A deduction for bad debts is only
permitted in
the year the receivable becomes partially or
completely
worthless. Similarly, a write down for any
excess
inventory is only allowed in the year the inventory
is
actually sold or scrapped.
Property and Depreciation
By accelerating certain expenses
into 2006, you may be able
to reduce your tax liability for the
year. One way is with the
section 179 election. section 179 allows
your business to
purchase up to $420,000 of qualifying property and
deduct
up to $105,000 of depreciation as an immediate expense.
Normally, you would have to spread the cost of the asset
over
its useful life and deduct only a percentage of the
total cost each
year.
Con't
================== SPONSOR
MESSAGE =========================
How To Design Websites Do Sell?
Top 40 Web Design
Secrets To
Convert Sales From Now On! The Ultimate Marketing Weapon by Mike
Chen, The Eight(8) Things You Must Test, The Confidential Internet
Intelligent Manuscript, e-book by Mark Joyner And Much More.. For
Sales Now All For Only $27.00!
http://consultingadvantages.com/Webconversionsecret/index.html
================== END
SPONSOR MESSAGE =====================
By claiming the section 179 deduction, the
business may
strategically benefit from the following
tax advantages:
? Deducting the full $105,000 section 179
deduction even
if the qualifying property was placed into service
on the last
day of the
tax year.
? Avoiding the short-year depreciation or
mid-quarter
convention rules.
There are other business-related deductions
that can be claimed
on a personal tax return. For instance, if you
use part of your
home as an office, you may be entitled to deduct
expenses
related to the home office based on the percentage of
square
footage the home office occupies. Related expenses
include
mortgage interest, property taxes, insurance, utilities,
and repairs.
If you used personal funds for business
expenses, such as
office supplies, or meals and entertainment, and
were not
reimbursed by the business, you may deduct these
items
on your personal tax return, subject to certain
limitations.
This includes expenses related to the business use
of
your regular or mobile phone, Internet fees,
or mileage.
================== SPONSOR MESSAGE
==========================
File Tax Online Easy!
Simple Fill-in, All Forms
Done
Accuracy & 100%
Satisfaction!
H&R
Block
================== END SPONSOR MESSAGE
======================
AUTHOR_AFFILIATION
By Stuart W.
Margolis, CPA, MS and Brian L. Enverso, CPA, MS,
CVA
AUTHOR_AFFILIATION
H.R. Margolis Company is a public
accounting and consulting firm
with specialties in turnarounds and
profit planning, valuation of
printing companies, mergers and
acquisitions, auditing, tax, and
financial management for the
graphic arts Industry. If you have
any comments or questions, you
can reach Stuart Margolis or Brian
Enverso at (610) 667-4310 or
(212) 736-1060 or e-mail,
smargolis@hrmargolis.com or
benverso@hrmargolis.com.
Market's New Inventions or Recommendations This
Month:
The Ultimate
Marketing Weapon by Mike Chen
Want To Create And Select Winning Ads All Times?
Want To Dominate Any Market You Are In Online?
www.secret-weapon.consultingadvantages.com
================== SPONSOR
MESSAGE ===================
Gain Work Productivity -
FREE TRIAL
Access
Your PC, Programs, Files, Emails
Now
Easy And Secured - Free Account!
http://www.jdoqocy.com/click-1691189-6269004
================== END
SPONSOR MESSAGE ================
Special Contests &
Announcements
Current Contest: members who refer 10
"New Subscribers" will get FREE: *****ZOOM
To SUPER SUCCESS
*****, by Richard Quek. Simply refer
to
www.managementtaxtipsezine.com to
subscribe.
Note: For Our Current Members
Only Please!
Members' Online
Business Management
Instant Traffic
Formula For Your Websites and Free Softwares For
Downloads (
Free!!)
Classifields:
(Instructions: members can submit one ad
60x5 for free. Space is limited therefore please submit early by
the end of each month. "First come First served"!)
Number One Web Hosting Services
Webmasters' Best Choice For Business!
Support 24 Hours 7/Wk. Start $4.95.
www.ixwebhosting.com
Find
unusual business, management, and leadership books,
all
self-published or from small presses. Learn from masters
and
experts in their fields, in works that you won't find
elsewhere.
Visit www.BackOfTheRoom.com, the
only online bookstore
specializing in self-published and
small press works.