FREE Quickbook Pro 2009 - Monday, 12/22/08

I've learned of a possible one-day promotion at Staples on Monday, December 22nd, where you can obtain Quickbooks Pro 2009 for free. Here is how it possibly works:

• The regular price at Staples is $199.99.
• The customer will receive $40 in instant savings.
• The customer at the store will receive a $159.99 mail-in rebate form.
• When the customer mails in the rebate form they will receive, some weeks later, a rebate for $159.99.
• Once the customer obtains the rebate, their base costs are zero: $199.99 - $40.00 - $159.99 = $0.
• The buyer may still be responsible for sales tax at the time of purchase; sales tax is not free.

There are numerous other blogs reporting this offer:

http://techspheres.wordpress.com/2008/12/19/free-quickbooks-pro-monday-only/

http://blog.bftcpa.com/2008/12/free-quickbooks-pro-at-staples-on-monday-12222008.html

http://www.foltzwerk.com/2008/12/19/monday-only-free-quickbooks-at-staples/

Now, I say possibly as I have searched Staples and Intuit websites and haven't found anything to substantiate the offer. I've read some posts from other Quickbooks Pro Advisors who have stated that they have called Staples stores in their area and it appears some stores have just learned of the promotion today (Sunday).

If it turns out to be a legitimate promotion, it is a great deal.

IRS Lien Relief for Refi's and Sales

Taxpayers looking to refinance or sell their home, but have federal tax lien filed against them now have an option for lien relief. Per the IRS article - "If taxpayers are looking to refinance or sell a home and there is a federal tax lien filed, there are options. Taxpayers or their representatives, such as their lenders, may request that the IRS make a tax lien secondary to the lien by the lending institution that is refinancing or restructuring a loan. Taxpayers or their representatives may request that the IRS discharge its claim if the home is being sold for less than the amount of the mortgage lien under certain circumstances." To read the entire article, here is link:

http://www.irs.gov/newsroom/article/0,,id=201343,00.html

Recordkeeping - How long do I need to keep...

One of the most frequently asked questions I get is how long to keep certain tax documents. My answer is generally, it depends. Federal law requires you to maintain copies of your tax returns and supporting documents for three years. This is called the "three-year law" and leads many people to believe they're safe provided they retain their documents for this period of time. However, if the IRS believes you have significantly underreported your income (by 25 percent or more), or believes there may be indication of fraud, it may go back six years in an audit. To be safe, here is a Record Retention Guide link that can help you determine what to keep and what to throw. One caution - don't just throw old records in the trash. With identity threat being a serious threat in today's world, invest in a shredder.

Tax Savings Checklist

With 2008 is winding down, you only have a couple of weeks left to make moves to trim your 2008 tax bill. We've provided a checklist of possible tax savings strategies on our Warrior Accounting website.