Recent Articles

Benefits of Tax Planning

Benefits of Tax Planning

During our tax season interviews at Predovich & Company, we find that many clients would have realized substantial tax savings if they had talked to us prior to taking certain taxable actions. Some areas where a pre-planning appointment with one of our CPAs may help you: Discuss your life goals Change in employment status Review […]

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Recovery Act Reminders for 2009

Filed in Deductions, Small Business, Tax Credits, Tax Law by on October 20, 2009
Recovery Act Reminders for 2009

Income Net operating losses – The ARRA amended IRC Sec. 172(b)(1)(H) to allow eligible small businesses to carry back a 2008 net operating loss up to five years instead of the otherwise available two-year limit. To be eligible for the longer carryback period, the loss must arise from an eligible small business – a proprietorship, […]

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Fall Tax Developments Update

Filed in Employment, Retirement, Tax Law by on October 15, 2009
Fall Tax Developments Update

The following is a summary of several important tax developments that have occurred in the past three months that may affect you, your family, your investments, and your livelihood. Please call us for more information about any of these developments and what steps you should implement to take advantage of favorable developments and to minimize […]

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Sole Proprietor Noncompliant Loss Deductions

Filed in News, Small Business by on October 13, 2009
Sole Proprietor Noncompliant Loss Deductions

Government Accountability Office report addresses impact of sole proprietor noncompliant loss deductions on tax gap. Ninety-five percent of all sole proprietors who reported losses in 2006 deducted some or all of their losses against other income, deducting a total of $40 billion, said the Government Accountability Office (GAO) in a report issued on Oct. 13. […]

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