There is a tendency to stop thinking about tax planning during recessions. After all, during recessions many individuals and businesses do not pay income tax because they do not have income. In many cases, however, a loss can be carried back to a prior year when the individual or business…
Just as employers were starting to revise policies and understand the impact of significant changes to employment laws in 2008, they are faced with complicated changes recently enacted and already effective in 2009. New COBRA Rules: The American Recovery and Reinvestment Act of 2009 (“ARRA”) was enacted to help workers…
It seems that the only thing you can be sure of these days is that “unprecedented” will be used to describe something you are experiencing. Stock market fluctuations are unprecedented…the real estate cycle is unprecedented…the Troubled Asset Relief Program is unprecedented…the labor market is unprecedented…the use of the word “unprecedented”…
The American Recovery and Reinvestment Act of 2009 was recently enacted as a means of stimulating the economy. The most noteworthy real estate aspect of the Recovery Act is a refundable tax credit of up to $8,000 for first-time homebuyers. This article will summarize the main qualifications and limitations for…
In today’s tough economic times, more and more companies are finding themselves unable to meet their financial obligations and pay their debts. The ripple effect is being felt throughout the commercial world, in particular by those who do business with these struggling entities. Suppose a manufacturer or a distributor sells…