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  • Letter From The Managing Partner - March 2010

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    Many of you may find it difficult to keep track of the growing volume of complex, new developments that can overwhelm even our most knowledgeable clients. This is particularly true as Congress continues to pass new tax laws, both large and small. There are key tax developments that occurred during 2009 that may affect you, your family, your investments,and your livelihood. Now is the best time, during the course of this tax season, to sit down with your SingerLewak Tax Partner to learn what steps you should implement now to take advantage of favorable developments, and to minimize the impact of those that are unfavorable

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    Letter From The Managing Partner - March 2010

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    Many of you may find it difficult to keep track of the growing volume of complex, new developments that can overwhelm even our most knowledgeable clients. This is particularly true as Congress continues to pass new tax laws, both large and small. There are key tax developments that occurred during 2009 that may affect you, your family, your investments,and your livelihood. Now is the best time, during the course of this tax season, to sit down with your SingerLewak Tax Partner to learn what steps you should implement now to take advantage of favorable developments, and to minimize the impact of those that are unfavorable

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    17 views2 pages

    Letter From The Managing Partner - March 2010

    Uploaded by

    SingerLewak
    Many of you may find it difficult to keep track of the growing volume of complex, new developments that can overwhelm even our most knowledgeable clients. This is particularly true as Congress continues to pass new tax laws, both large and small. There are key tax developments that occurred during 2009 that may affect you, your family, your investments,and your livelihood. Now is the best time, during the course of this tax season, to sit down with your SingerLewak Tax Partner to learn what steps you should implement now to take advantage of favorable developments, and to minimize the impact of those that are unfavorable

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
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    of 2

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    KEY 2009 TAX DEVELOPMENTS THAT MAY AFFECT YOU

    Many of you may find it difficult to keep track of the growing volume of complex, new
    developments that can overwhelm even our most knowledgeable clients. This is particularly
    true as Congress continues to pass new tax laws, both large and small. There are key tax
    developments that occurred during 2009 that may affect you, your family, your investments,
    and your livelihood. Now is the best time, during the course of this tax season, to sit down
    with your SingerLewak Tax Partner to learn what steps you should implement now to take
    advantage of favorable developments, and to minimize the impact of those that are
    unfavorable.

    Additionally, there are a number of tax credits often overlooked by business owners. We have
    the resources and the capability to identify and claim these credits.

    California Credits and Incentives:

    California currently has four types of Geographic Targeted Economic Development Areas:

    l 42 Enterprise Zones
    l 8 Local Agency Military Base Recovery Area (LAMBRA)
    l 2 Manufacturing Enhancement Areas
    l 1 Targeted Tax Area

    Each of these areas has a related tax incentives benefit.

      Federal Employment Credits and Incentives:


     

    Federal Employment Credits and Incentives were created to offer a combination of grants and
    tax credits for businesses in highly distressed urban and rural communities and are generated
    in addition to the California Enterprise Zone Credits. In California, the following Federal
    Employment Credits are available:

    l Federal Empowerment Zone (FEZ)


    l Renewal Community Zone (RCZ)
    l Work Opportunity Tax Credit (WOTC)

    These are available in certain areas of Los Angeles (city and county) as well as Orange County
    (Santa Ana).

    Please contact us if you have any questions and would like to discuss in further detail.

    David Krajanowski, CPA


    Managing Partner

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