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Informative Articles

Communicate and Prosper
How much has poor communication cost your company in the past twelve months? Chances are, you have no idea. Chances are even better it's a lot more than you can afford. But you won’t find the numbers in the financial statements or year-end...
It's Just Common Sense!
Please feel free to publish this article and resource box in your ezine, newsletter, offline publication or website. A copy would be appreciated at bobkelly@TNI.net. Net word count is 835 including guidelines and resource box. Robert A. Kelly ©...
PR Still a Mystery to Some
Unfortunately, there are managers who define public relations by its applications. Which explains neither its underlying strengths nor what PR is all about. The casual observer is left with a confusion of tactical, application-oriented...
Small Business Q & A: How To Handle The Occasional Oop-See!
Q: My company is really in hot water with one of our best customers. I can't reveal exactly what happened, but suffice it to say that we really dropped the ball and the customer is furious. I'm not even sure we can save the account. What's the best...
The Growing Trend in Business Networking
A Review of "The Five Keys To Building Business Relationships Online" If you are a practitioner of business networking, you know that you can only connect with so many people at each event. But, what if you had the opportunity to connect...
 
Tax Reduction Tips

In the rush to get tax returns prepared and filed by April
15th, many overpay their taxes. Following are a few tax
reduction tips that could help you save a bundle.

Tax Credit For Starting A Small Business Pension Plan

Establishing a pension plan can help you retain important
employees. What many business owners don’t realize is a tax
credit can be claimed if the business has 100 or fewer
employees. Meet this requirement and you can take a tax
credit of up to $500 in each of the first three years of the
plan. Tax credits are extremely valuable because they are
deducted directly from the taxes you owe, not gross
revenues.

The credit is 50% of certain start up costs you incur in
each of the first three years. The costs include the
expenses incurred in establishing and maintaining the plan.
They also include the cost of any educational retirement
planning programs you provide for employees.

For example, first assume that you spent $1,500 starting a
pension plan for your employees in 2004. Next assume that
you will spend $1,200 in both 2005 and 2006 for maintaining
the program and educating your employees. In this scenario,
you would be eligible to claim a tax credit of $500 in 2004,
2005 and 2006.

Personal Loans To Business

Many business owners lose track of loans they make to their
business. As a result, they incorrectly classify the
proceeds of the loan as part of their gross revenues. This
artificially raises the gross revenues of the business and
adds to the tax liability. Closely review your records for
2004 to make sure you are not making this mistake. Pay
particular attention to charges on personal credit cards.
You will be surprised how quickly the numbers add up.

SUV Deduction Wounded, But Still Alive

Much has been made about the “SUV Tax Deduction” that
allowed purchasers of SUVs over 6,000 pounds to immediately
deduct up to $100,000 of the cost. Many mistakenly believe
that the American Jobs Creation Act of 2004 eliminated this
deduction. It did not. Instead, it reduced the deduction to



$25,000 with the remaining amount allocated to depreciation.
This is still a significant immediate deduction. If you
purchased a non-SUV truck that weighed over 6,000 pounds in
2004, you are not restricted to a “mere” $25,000 deduction.

Tsunami Relief Contributions Paid in 2005

Millions of Americans contributed to charitable
organizations providing relief to Tsunami victims.
Typically, charitable contributions are deducted in the year
they are made. New legislation, however, allows you to
deduct Tsunami contributions you made in January 2005 on
your 2004 tax returns. Alternatively, you can wait and
deduct the donation on 2005 returns. Unfortunately, you
cannot deduct the contribution on both!

Sales Tax Deduction

If you itemize deductions, you have a choice of deducting
your state and local income taxes OR your state and local
sales tax. This option is available for the 2004 and 2005
tax years. If you live in a state that does not collect
income tax, the optional sales tax deduction should be
claimed for significant tax savings. See IRS Publication 600
for more information.

Deduction for Discrimination Lawsuit Costs

If you were required to pay attorney’s fees and court costs
associated with a discrimination lawsuit, you may be able to
claim a tax deduction. The deduction is available only for
costs and fees incurred after October 22, 2004 in relation
to a judgment and settlement. The deduction is not limited
by the alternative minimum tax. Realistically, this
deduction will be more viable for the 2005 tax year, but a
few taxpayers may be eligible this year.

There are numerous deductions and credits available if you
take the time to look for them. Taxes can be confusing, but
the savings justify the time and effort of finding all
available deductions and credits.

About the Author

Richard Chapo is CEO of Business Tax Recovery - Obtaining tax refunds for small businesses by finding
overlooked tax deductions and credits through a free tax return review.

 

PR.com: Directory of Businesses Jobs Press Releases Products ...
Comprehensive Directory of Businesses, Jobs, Products, Services, Press Releases, News, & Articles in all Industries. Promote your business. FREE.
www.pr.com
 
PR Newswire - news distribution, targeting and monitoring
News and press release distribution services for small business marketing, corporate public relations and investor relations, government and organizational ...
www.prnewswire.com
 
PR Week Magazine
News and features about the public relations industry, with links to US, UK, Asian, and German editions.
www.prweek.com
 
Public relations - Wikipedia, the free encyclopedia
Public relations (PR) is the art of managing communication between an organization and its ... PR historians say the first PR firm, the Publicity Bureau, ...
en.wikipedia.org
 
Puerto Rico - Wikipedia, the free encyclopedia
Hyperlinked encyclopedia article covers the country's history, government and politics, geography, economy, demographics, language and culture.
en.wikipedia.org
 
The Public Relations Society of America (PRSA)
Largest professional organization of public relations specialists representing business, consulting firms, government, associations, schools, ...
www.prsa.org
 
CIA - The World Factbook -- Puerto Rico
Profile of Puerto Rico by the Central Intelligence Agency (CIA).
https:
 
Center for Media and Democracy - Publishers of PR Watch
A nonprofit, public interest organization dedicated to investigative reporting on the public relations industry.
www.prwatch.org
 
Puerto Rico Vacations | Puerto Rico Tourism Company | Puerto Rico ...
Puerto Rico Tourism Company Official site includes nightlife, area sports, culture, and travel information.
www.gotopuertorico.com
 
PR: See what people are saying right now on Technorati
See all blog posts tagged with pr on Technorati. ... This page shows everything that has been tagged with pr. To contribute to this page include this code ...
www.technorati.com
 
Edelman
Full service global public relations firm. Includes company profile, management team, practice areas, industries served, case histories, client listings, ...
www.edelman.com
 
LEWIS PR - global public relations
LEWIS PR is a global public relations consultancy working with leading and emerging brands and delivering predictable results tied tightly to client goals.
www.lewispr.com
 
IANA | .pr - Puerto Rico
University of Puerto Rico Gauss Laboratory Facundo Bueso Building Office 265 ... Puerto Rico Email: tech@uprr.pr Voice: +787 765 3263 Fax: +787 754 0757 ...
www.iana.org
 
Online Public Relations Home Page
Free online resource for public relations professionals.
www.online-pr.com
 
Chartered Institute of Public Relations, CIPR, the professional ...
The CIPR is the professional body for the UK public relations industry, providing PR training and events, PR news and research, and a PR jobs board.
www.ipr.org.uk
 
PR News Online — Trusted Source for Public Relations News, PR ...
The latest news on public relations delivered FREE right to your inbox. ... Psycho-Geometrics Help You Know What 'Shape' Your PR Team's Personality Is In ...
www.prnewsonline.com
 
O'Dwyer's Public Relations News - odwyerpr.com
Features breaking news about the public relations industry, a database of PR firms, listing of PR service firms, client search tool and job postings.
www.odwyerpr.com
 
PR News Online — Trusted Source for Public Relations News, PR ...
E-letter. The latest news on public relations delivered FREE right to your inbox. ... Share ideas with your peers in PR News' just-launched Forum ...
www.prandmarketing.com
 
Linux PR:
Comprehensive Press Release and Public Relations resource for the Linux community.
www.linuxpr.com
 
Escape to Puerto Rico - Your Internet Guide to Puerto Rico
Internet guide to everything Puerto Rico. Offers lots of photos, accommodations and travel information from around the Island.
escape.topuertorico.com
 
 

 
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