Year End Updates from the IRS

IRS Features Recovery Tax Credit Information now on YouTube and iTunes

To help taxpayers take full advantage of the 2009 tax provisions in the American Recovery and Reinvestment Act, the IRS has launched a YouTube video site. People without an iTunes account can hear those same podcasts, in English and Spanish, on IRS.gov’s Multimedia Center.

http://www.irs.gov/irs/article/0,,id=212289,00.html

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New IRS Materials Available to Promote Awareness of Recovery Act Tax Benefits

As part of a larger effort to increase the awareness and use of tax benefits available through the American Recovery and Reinvestment Act (Recovery Act), the Internal Revenue Service has announced the availability of a vast array of products that help explain several tax benefits currently available to American families.

http://www.irs.gov/newsroom/article/0,,id=213326,00.html

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Deadlines Near for Business to Choose Expanded NOL Election

Eligible taxpayers must act soon if they want to take advantage of the expanded business loss carryback option included in this year’s Recovery law. This carryback provision offers small businesses that lost money in 2008 an excellent way to quickly get some much needed cash if they were profitable in previous years.

http://www.irs.gov/newsroom/article/0,,id=213149,00.html

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While digesting IRS info is not the most exciting way to spend an afternoon, learning more about these programs can really impact the bottom line!

Are You Sorry You Opened?

Being a business owner has its ups and downs and lately the downs have been extra tough. Through it all, most owners are still happy to be in business. But what if you’re sorry you’re open?

What if the ups don’t seem to be fixing the downs and what if it’s just about impossible to remember when it was fun to come into the shop in the morning?

If you’re sorry you’re open, you just might want to pick up the phone and call your Northwest Georgia SBDC. Many of our clients tell us it’s just nice to have someone to talk to during these difficult times and all of your SBDC services are free and confidential.

If we can find a way to bring the fun back into your business then you will find our time well spent. If we can't see a way to get things back on track then we can talk about the changes, big and small, that can help you get your life back on an even keel. The contact information is listed right below the University of Georgia's SBDC logo on the upper right side of the blog so pick up the phone or send an email - your Northwest Gerogia SBDC is here for you!

Call: (706) 272-2700

Write: rriedrich@georgiasbdc.org