Amidst the backdrop of the worst recession since the Great Depression comes news that Uncle Sam has enacted new tax credits and deductions to aid ease the burden of the overly burdened taxpayer. The following is brief list of credits and deductions available this year to put some money in your pocket and aid brighten your day! The credit is claimed on the 2009 tax return.
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The Internal Revenue Service has released guidance on how eligible tiny businesses may take advantage of the enhanced net operating loss NOL carryback provisions of the American Recovery and Reinvestment Act of 2009. Qualifying tiny individuals and businesses with a NOL in 2008 can elect to offset this loss against income gained in up to five prior years, instead of the otherwise generally available
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Scott Willsea, a former Director of Ceridian, Assistant Vice President with ADP and Assistant Vice President with Bank of America established PayCare in 1997. Having spent many years in upper management in the big corporate payroll industry Scott realized something very important was missing. As the large payroll, giants grew bigger their focus shifted from their clients to their bottom line.
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