Craig R. Bolotsky

IT'S SUMMER TIME!!

That's right, it's time to start thinking about making every dollar count! By now you have received your refunds and should be preparing for 2010. If your looking for a summer project there is a lot of Residential Energy Credits available, for insulation, doors and windows, as well as solar and other energy types. As well as electric vehicles that reap huge tax credits.

This year there is no Work Pay Credits available, as yet. This was worth $400-$800 in last years return, this alone will reduce your refunds. You may want to contact my office so we can do a quick projection of your expected 2010 tax bill.

I can still offer Electronic Filing for your Individual & Business federal as well as any state income tax return(s) you may need prepared for 2009. I am still preparing returns on extension and can efile your returns until September 15, 2010.

NEW, for 2010 tax filings I will be able to withhold my fees directly from your refunds without any additional costs!!!

I am not anticipating any major changes in my preparation fees which have always been reasonable and should save you a few dollars over other preparers. Due to financial strains, I am not planning on increasing any fees at this time. For you new clients, if you bring in your invoice from your last preparer, I will not increase your fee, in most cases I will cut your fee by $25.00.

Please feel free to call with any questions you may have.

Best Regards,

Craig R. Bolotsky CPA

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Craig R. Bolotsky CPA


1206 JF Kennedy Blvd

Bayonne, NJ 07002

E-mail: craig@bolotskycpa.com

Phone: 201.436.4800

Fax: 201.436.7272

  

BREAKING NEWS:

The HIRE Act will exempt an employer from paying the employer portion of Social Security taxes for the remainder of the year on new hires who were previously unemployed. A qualified employee is one who meets the following requirements:
A) Begins employment with a qualified employer after February 3, 2010 but before January 1, 2011.
B) Has not been employed for more than 40 hours total during the past 60 days. The individual must sign an affidavit attesting to the employer that this is true.
C) Is not hired to replace another employee unless the previous employee was separated from employment voluntarily or for cause.
D) Is not a family member of the business.
Qualified employers may begin claiming this tax credit on the second quarter 2010.

Additionally, a business tax credit for $1,000 or 6.2% of the wages paid to the retained worker can be claimed for each qualified individual that stays with the employer for 52 weeks.