business / Finance
Breaking Tax News - New Tax CreditsIf you're unemployed here's a bit of good news. All or part of your unemployment benefits received in 2009 will be tax free, based on a new rule provided by the IRS. It was noted that in the month of march more than 5.5 million people received unemployment benefits. With the rise in unemployment the American Recovery and Reinvestment Act, enacted that the first $2,400 of unemployment insurance is exempt from tax for everyone. Therefore if you are a married couple and you both are unemployed you both get to take the exemption.
E-Zine Wednesday, August 05, 20091031 Exchanges - The Realtor, The Buyer and The Tax ProfessionalIt's pretty simple. You can do an Internal Revenue Code section 1031 exchange. This 1031 exchange allows you to defer paying capital gains tax until you have disposed of the replacement property without exchanging it. The IRS allows you to exchange like-kind properties of similar value. During a 1031 exchange monetary as well as other assets can be included in the exchange. The cash involved in the exchange can be taxed.
E-Zine Wednesday, August 05, 2009Thirteen Common Mistakes on Tax ReturnsErrors made on tax returns may delay the processing of your return and the arrival of your refund. I have taken the time to put together twelve of the most common mistakes made by individuals preparing their own tax returns. These mistakes are common and can be costly. It is easy to make a mistake when the IRS has over ten thousand tax codes! Anyone can make a mistake; even many politicians seem to be making tax mistakes! Some have come with as high of a cost as the loss of a cabinet position.
E-Zine Wednesday, August 05, 2009Tadawul market dips slightlyRiyadh's Tadawul exchange lost 0.16%, closing at 5,769.99 points in one of the lowest turnover sessions this year. Saudi Steel Pipe Co. dipped 0.60% lower, closing at SR33.30 after the firm jumped 40% on its debut yesterday. Al Ahli Takaful Company soared 9.89% and ended at SR17.50, followed by top gainer number two Saqr Insurance (up 6.69% at SR4.00). KSA is currently liberalising its insurance law, triggering a massive inflow of new market players and higher underwriting turnover in the kingdom. [AMEInfo.com]
AME Wednesday, August 05, 2009Kuwait Real Estate dips 4.16% on Q2 resultsAfter reporting the third consecutive quarterly net loss of KD0.44m, Kuwait
real estate Co. shares lost 4.16%, ending at KD0.092. The Kuwait Stock Exchange (KSE) Price INdex closed almost unchanged at 7,720.7 points (off 7.7 points). Since July 26, the index has been trading without any major momentum around 7,700 points. [AMEInfo.com]
AME Wednesday, August 05, 20098 Ways the Government May Try to Collect More Money From TaxpayersIn addition to helping out other government agencies in the country, the Federal government has also spent billions of dollars bailing out banks,
insurance companies, and U.S. automakers. With all of this spending, you would think the government would have enough revenue to support it. However, last year the Federal government reported a huge decrease in tax revenue, which has left lawmakers scrambling to find ways to raise more funds.
E-Zine Wednesday, August 05, 2009Proration of Expenses in an Offer in CompromiseBefore the Internal Revenue Service (IRS) accepts a taxpayer's Offer in Compromise, or places his balances in Currently Not Collectible status, or agrees to an Installment Agreement, they will first request a Collection Information Statement (CIS). The CIS is the taxpayer's financial information statement attesting to his income, expenses, and assets.
E-Zine Wednesday, August 05, 2009Active trading at Nasdaq DubaiFour shares were traded today at Nasdaq Dubai. Market bellwether DP World regained ground, closing 2.94% higher at $0.35. DEPA soared 7.14%, ending at $0.60. Also, 100,000 Damas shares changed hands. The Dubai-based jewellery trading company remained flat at $0.25. Australia's Boulder Steel lost a bold 46.24%, closing at $0.05. The only international exchange in the Middle East posted a turnover of some 9.95m securities. [AMEInfo.com]
AME Wednesday, August 05, 2009Hills hopes for sunnier outlookTHE maker of the Hills hoist clothes line, Hills Industries, has posted a 42 per cent slump in net profit but expects tough conditions to ease this financial year.
The Australian Wednesday, August 05, 2009DJs weathers economic stormLUXURY department store David Jones has maintained its cautious outlook on the economy after posting a small increase in fourth-quarter sales.
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