Record Retention - Ever wondered how long you should keep copies of those old bank statements.  If you're like many of our clients, you probably keep them longer than you're actually required to.  Prolonged record retention is a costly practice. 

Nearing retirement and need to know your minimum IRA distribution?  Check out our IRA Minimum Distribution Calculator now updated with the IRS' new 2002 factors!

Officer Compensation - A recent Tax Court case outlined a situation we as CPAs see quite often with our clients.   In this case, the taxpayer was the sole shareholder of a professional association (taxed as a corporation) which performed medical services.  

 

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2003 Tax Act - On Wednesday, May 28th, 2003, President Bush signed the Jobs and Growth Tax Relief Reconciliation Act of 2003 which should bring at least some tax breaks to almost all of our clients.  As everyone anticipated, the primary beneficiaries of the Act are families with children, stock investors, high income taxpayers and small business. 

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