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Small business tax tips for 2008

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The National Association for the Self-Employed is encouraging small business owners to get an early jump on their taxes with top tax tips for 2008. Among the tips are: Visit www.NASE.org or www.IRS.gov to determine whether you should have your taxes calculated professionally. Determine whether cash or accrual accounting is best for your business. Always… Continue Reading Small business tax tips for 2008

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Americans eager for Uncle Sam’s check

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Americans are filing their tax returns earlier this year. The National Retail Federation’s Tax Returns Consumer Intentions survey found that 61.2 percent of consumers have already filed their tax returns or will file a return by the end of the month. The survey also found that consumers filed earlier this year than they did last… Continue Reading Americans eager for Uncle Sam’s check

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IRS letter coming your way

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The Associated Press WASHINGTON – Don’t be alarmed. More than 130 million households will get letters from the IRS starting next week – and it’s good news. The letters are part of an extensive outreach effort to make sure people don’t miss out on their share of the recently passed $168 billion economic stimulus plan.… Continue Reading IRS letter coming your way

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IRS offers economic stimulus answers

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The Internal Revenue Service has released additional information about the economic stimulus payments on its Web site. The site gives answers for recipients of Social Security, Railroad Retirement benefits and certain veterans’ or survivors’ benefits. Millions of people in these groups who normally don’t file will need to file a 2007 tax return in order… Continue Reading IRS offers economic stimulus answers

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Pay state taxes online

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Colorado residents can now pay their state taxes online. The Colorado Department of Revenue reported this week that Coloradans now can pay individual income tax and estimated individual income tax, as well as past due amounts by using an electronic check, MasterCard or Visa on the department’s Web site. The service also allows estimated payments… Continue Reading Pay state taxes online

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About 12,000 free tax preparation sites are available this year for low-income and elderly taxpayers. The Internal Revenue Service has expanded its partnerships with nonprofit and community organizations that perform tax preparation services. The IRS Volunteer Income Tax Assistance Program offers free tax help to people who earn less than $40,000. The Tax Counseling for… Continue Reading Free tax help for low-income, elderly taxpayers

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A new law allows homeowners whose mortgage debt was partly or entirely forgiven during 2007 to claim special tax relief. The Mortgage Forgiveness Debt Relief Act of 2007, enacted Dec. 20, allows eligible homeowners to fill out newly revised Form 982 and attach it to their 2007 federal income tax return. Normally, debt forgiveness would… Continue Reading Law allows tax relief for mortgage debt forgiveness

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Sales tax revenue skid ends – barely

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The slide in city sales and use tax revenue has stopped, at least for now. The city’s sales and use tax for August increased 2.27 percent over the prior year period. Sales tax actually dropped by .81 percent, but use taxes increased by just over 40 percent. An example of a use tax would be… Continue Reading Sales tax revenue skid ends – barely

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There’s nothing quite as satisfying as finding your niche in life. Some careers start early, as if pre-ordained. Others evolve and unfold later in life – allowing themselves to bank real-life experience before finishing college or choosing a profession. In the end, it doesn’t really matter which road you take, says Catherine Skiles, a Pikes… Continue Reading Accountant finds greener pastures in private practice

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Calling for private citizen and business community participation to build a better Colorado Springs, City Manager Lorne Kramer addressed a receptive audience of 200 Economic Development Corporation (EDC) members, politicians, nonprofit leaders and media representatives on Thursday, July 11 at the Colorado Hall. On hand for the event were new Deputy City Manager, Dave Nickerson… Continue Reading City Manager outlines key issues for community heavy-hitters

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