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Expanded NOL's, Section 179 Deduction & Bonus Depreciation

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  There are several tax incentives small businesses may take advantage of this tax season, before the October 15th deadline (for those who received an extension). The Worker, Homeownership, and Business Assistance Act of 2009 expanded the Net Operating Loss (NOL) Carryback option, while the American Recovery and Reinvestment Act of 2009 increased the Section 179 Deduction and extended the bonus depreciation. These tax incentives may be especially helpful for contractors and other small business owners who have been hurt by the economy. Expanded Net Operating Loss Carryback Businesses and contractors that have suffered net operating losses (NOL) now have greater flexibility in carrying the loss back to a prior year to get a tax refund. These net operating loss provisions allow businesses to carry the loss back three, four, or five years, or a loss from operations for four or five years, in order to offset taxable income in the preceding taxable years. (An NOL can typically be carried ba

Smart Moves After An Orlando Car Accident

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  Photograph the cars involved in the accident, get the names of any witnesses and get yourself checked out by a competent medical doctor. As   Orlando car accident lawyers  we have seen too many people suffer AFTER a car accident because they failed to take these steps. Even worse is the situation where someone follows these steps, has an injury, but hires a lawyer who failed to properly represent their interests. In one case, our client lost more than two years patiently waiting for his prior lawyers to file a lawsuit on his behalf. Sadly, he hired lawyers who simply believe once the client signs the contract, you just “talk” to the insurance company and wait to see if they offer any money. The truth is insurance companies know which lawyers try cases and which do not. Many Orlando lawyers who accept car and truck accident cases are NOT specialists. Only two percent of The Florida Bar is Board Certified as specialists in civil trial law, which includes car and truck accidents. As pas

The Florida Car Accident Book

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  We feel blessed that many Floridians have been helped by the Florida car accident book,   Seeking Justice: An Insider's Guide for the Injured.   When I wrote this book, I hoped it would help people involved in a   car accident  protect themselves from insurance company adjusters. I also wanted to provide a solid method for injured people to find the right lawyer. From the reviews we have received, it has done just that. For anyone injured in a Florida car accident, a   Free copy of this book  can be a great place to start. After reading my book, people have shared that they had no idea that out of the 80,000 Florida lawyers- only 2 percent are certified as specialists in civil trial law, which includes car and truck accidents.  https://askcompetentlawyer.com/   Everyone should understand that car and truck accident cases have many complex issues that lawyers who do not specialize may not be aware of. Unfortunately, if a lawyer does not know the important issues involved in car an

Car Accidents Involving Alcohol Must be Reduced

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  Alcohol-related crashes killed nearly 18,000 people on American highways last year. Just a few years ago, New Mexico had one of the most serious drunk driving problems in the United States, with more alcohol-related fatalities per capita than any other state. Since then, its legislators addressed the problem in part by requiring ignition interlocks for repeat "DWI" (driving while intoxicated) offenders. In essence it is a breath analyzer installed in the car that won't let the car be started if the driver has been drinking.  https://askcompetentlawyer.com/   The interlock requires the driver to pass a re-test at random intervals while driving, otherwise it will shut off the vehicle. It's meant to prevent people from taking a drink after they've started the car or from having a sober person start the car for someone who's been drinking. Other states have similar laws, but in 2005, New Mexico became the first to require interlocks for first-time offenders. Man

Choose the Right Doctor After Your Orlando Car Accident

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  Choosing well-qualified, caring doctors quickly is important for your health and for your car accident claims. As  Orlando car accident lawyers , many of our clients have no health insurance; many have no doctor; and, they do not know where they should go for medical care following a car accident. We interact with the best medical doctors in the Orlando area; and, we can provide critical guidance when it counts.  The sad truth is many doctors refuse to see car accident victims, especially those without insurance. Many doctors also work for auto insurance companies, making thousands of dollars examining car accident victims and "discounting" the injuries suffered. If you innocently choose one of these “insurance or defense” doctors, you will have little opportunity to receive full and fair compensation for your injury. As a  medical doctor and lawyer, Dr. Walter Ward  knows which doctors genuinely care to help car accident victims.  https://askcompetentlawyer.com/  Do not ru

The IRS Attacks: Your College's Blindside

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  I am a big fan of college football and spend most of my fall Saturdays watching football games. Sometimes I wonder what the coaches are thinking when they call certain plays. Last fall during a particularly exciting play where the UGA quarterback was sacked by the opposing team's defensive end, I wondered what the left tackle was thinking. Of course, he may have been thinking about the next play, or perhaps the post-game festivities, but I guarantee you that he was not thinking about the tax ramifications of the Nike insignia on the quarterback's jersey. Though it may have been the last thing on the left tackle's mind, President Adams and the IRS have given it some thought. Corporate sponsorships are just one example of unrelated business income that is the prey of a new onslaught of  IRS audits  targeting colleges and universities.  https://askcompetentlawyer.com/business-commercial-litigation/  UGA in particular has been targeted, and the IRS is auditing the income it r

The IRS Attacks: The Hand that Feeds It

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  When I was a child, my mother surprised me one glorious morning with a Rottweiler puppy.  https://askcompetentlawyer.com/   She justifiably handed me a piece of steak and explained that I was to give the steak to the Rottweiler because it would never bite the hand that feeds it. And, fingers in tact years later, she was correct. It seems the IRS never learned that lesson--their newest (and perhaps oldest) targets are restaurant owners. (Not surprising, as we all knew only   audits   satiate that IRS hunger). The IRS requires employers to file an annual tip allocation return, Form 8027. While approximately 50,000 returns were filed last year, an independent firm the IRS hired estimates that figure should be tripled. The IRS plans to align its files with the independent firm's information and send letters of inquiry to non-filers. If you own a restaurant and have not filed Form 8027 or know that there are problems with the form you filed, you need to contact a  tax professional  be