On January 15, 2013, the Internal Revenue Service announced a new simplified option for owners of home-based businesses and some home-based workers may also be able to use this option for calculating deductions for the business use of their homes. In 2010, over 3.3 million taxpayers claimed the deduction for business use of a home. This is good news for small businesses that often start out of the home.
The tax bill passed by Congress on New Year's day, the American Taxpayer Relief Act of 2012, provides some meaningful tax incentives for small businesses. The goal of these tax incentives is to continue economic growth by spurring innovation, encouraging capital investments, and getting small businesses to hire more new employees.
Here are a few key tax incentives:
At its quarterly luncheon, held at the Vancouver Hilton on Thursday December 13, 2012, the Columbia River Economic Development Council (CREDC) honored its founding Presidents: Brian Wolfe, Steve Horenstein, Bob Schaeffer, Carol Curtis, and Vern Peterson (pictured right from left to right) and posthumously Donna Cantonwine, Paul Grattet, and James Fowler.
Keith and Sharon are putting together their wills and a revocable living trust, and they are trying to decide who to name as their personal representative and successor trustee. Keith and Sharon have two children, Sarah and Jerry. They want to select Sarah because she is the oldest, but also want to select Jerry because he is very good with finances because of his job at a bank.
Nicolle Pratt joins the firm, while Mellissa Middleton is elected to a second term as Secretary of the Oregon Paralegal Association.
The Horenstein Law Group is proud to announce exciting news involving two of our own, one just coming on board and the other already a member of our staff.