Smith and Associates Newsletters

2010 Newsletters

In this Issue:

Small Business Tax Bill - Senate passes Small Business Jobs Act of 2010 by 61-38 vote, the House approved the Act and sent it to President Obama for his signature.
Quality Control Review - We have received the highest possible ranking for our sixth consecutive quality review spanning a period of eighteen years and received a Certificate of Recognition from the AICPA.
Filing an Extension - An extension will give you extra time to get your paperwork to the IRS, but it does not extend the time you have to pay any tax due.
Home Energy Tax Credit - Consumers who purchase and install specific products, such as energy-efficient windows, insulation, doors, roofs, and heating and cooling equipment in existing homes can receive a tax credit for 30% of the cost.
Conversion to Roth - Starting in 2010, taxpayers with modified adjusted gross income of more than $100,000 will be allowed to convert a traditional IRA to a Roth IRA.