President Obama signed the extension of the First-Time Homebuyer Tax Credit to cover purchases of a principal residences to May 1, 2010. The credit was also expanded to existing homeowners. A $6,500 tax credit is available for purchases of a new principal residences by homeowners who have lived in their current principal residence five consecutive years out of the last eight years.
The bill also includes an efiling requirement by all tax preparers who prepare ten or more individual tax returns in a calendar year. This requirement is effective for returns prepared after December 31, 2010.
Monday, November 09, 2009
Tuesday, November 03, 2009
Form an LLC for Free (aside from state fees)
Through a Profit 501 tweet, I found a great site to help small business owners form an LLC (Limited Liability Company) for FREE - FormLLCDirect . From the FormLLC Direct website, FormLLCDirect is a 100% FREE service that was created by top corporate and tax attorneys who worked at some of the largest law firms in the country. The website helps you create your LLC Articles of Organization and obtain the LLC's Tax ID number. There is a fee for the LLC operating agreement but FormLLCDirect has negotiated a special discount for all FormLLCDirect users with MyLLCAgreement.com.
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