Monthly Archives: October 2010

Contractors: Beware of the Alternative Minimum Tax (AMT) on Long-Term Contracts

Are you aware of the alternative minimum tax on long-term contracts reported on the completed-tax method?  Beware:  it can be significant, even amounting to more than your tax liability resulting from the regular tax rules. Read the article, Alternative Minimum … Continue reading

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You May Be Able to Change to the Cash Method of Accounting for the Reporting of Your Tax Returns

Now Revenue Procedures 2001-10 and 2008-28 allow many small businesses previously denied the use of the cash method of accounting on their tax returns to elect this basis as the overall method of reporting.  The change is automatic and requires … Continue reading

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Do you know how to calculate your deductions for Section 179, bonus depreciation, and MACRS under the Small Business Jobs Act of 2010?

How to Calculate Section 179 Deduction, 50% Bonus Depreciation, & MACRS Depreciation Under the Small Business Jobs Act of 2010, with Illustrated Examples Provided by William Brighenti, Certified Public Accountant, Certified QuickBooks ProAdvisor Do you know how to compute the … Continue reading

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Do You Know How to Calculate Section 179, Bonus Depreciation, and MACRS Under the Small Business Jobs Act of 2010?

Do You Know How to Calculate Section 179, Bonus Depreciation, and MACRS Under the Small Business Jobs Act of 2010? by William Brighenti, Certified Public Accountant, Certified QuickBooks ProAdvisor The Small Business Jobs Act of 2010 has increased and extended … Continue reading

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Export Your QuickBooks Online Data File to Your Desktop Version of QuickBooks to Do Reconstruction Work to Minimize Time and Risk of Loss

Does your QuickBooks Online data file require a clean up?  May it require hours and hours of your time to enter transactions and make adjustments?  If so, save time and minimize risk of loss of data by exporting your QuickBooks Online data … Continue reading

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58 lawyers are Senators. An accountant is now running for Senator. Francine McKenna for President?

A while back, I wrote a blog entry asking “Why Not a CPA for President“.  Perhaps Ron Johnson read it, and decided to use the campaign approach I advocated in that entry:  that is, run a campaign on the merit of … Continue reading

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