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CPA and Tax Accounting Practice based in Philadelphia, Bucks County, Northeast Philadelphia, Delaware Valley
Lawyer Accountant Specializing in Medical Profession, Healthcare
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The Tax Accounting Season: 2009 - looking after 2008 Returns
Did you ever wonder why the IRS calls it the Form 1040? Because for every $50 that you earn, you get $10 and they get $40.
Well, it's tax time again, but the good news is that a number of changes in the tax law should assure that you get to keep more of the money that you earn.
For example, there is a new additional standard deduction for real estate taxes, a new credit for first-time homebuyers, and a new “recovery rebate credit” for those who qualified but did not receive the full economic stimulus payment last year. Also, the first year deduction for new car purchases has increased substantially from $2,960 to $10,960, and the IRA contribution deduction has been increased to $5,000.
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The standard mileage rate for business use of a car has also been substantially increased to reflect higher gasoline prices. In addition, several popular tax breaks have been extended including the deduction for state and local sales taxes, the deduction for educator expenses, and the tuition and fees deduction.
New Payment Option
We are also offering a new payment option this year. For a nominal charge, we can now deduct our tax preparation fee directly from your tax refund.
We would appreciate the opportunity to prepare your taxes again this year. Our hours are 9 am to 9 pm Mondays through Thursdays, 9 am to 5 pm on Fridays, and 10 am to 3 pm on Saturdays and Sundays. Please call to schedule an appointment at your earliest convenience.
Accounting and accountants in Philadelphia can help with those tax returns. Scotese & Company can help you in all the states in the US although our accounting offices are in Bucks County -- near Philadelphia, North East Philadelphia, and the Delaware Valley Area.
Sincerely,
Robert Scotese, C.P.A
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