We here at James Flanagan & Associates feel that an informed client is our best customer. We know that there is a lot of information on the Internet and it can be tough to determine what is valuable. That is why we have selected the following articles for you to view.   Business changes in HIRE Act The President recently signed into law the “Hiring Incentives to Restore Employment Act of 2010” (the HIRE Act, P. L. 111-47, 03/18/2010). The centerpiece of this Act is a payroll tax holiday and up-to-$1,000 tax credit for businesses that hire unemployed workers. In addition to these new hiring incentives, the HIRE Act also includes a one-year extension of the enhanced small business expensing option under Code Sec 179. Both of these provisions are extremely important to many businesses. Health Reform Legislation Tax Changes Affecting Small Businesses For owners of small businesses and their workers, the recently enacted health reform legislation has some key provisions to pay attention to. The major ones include: tax credits; excise taxes; and penalties. The attached article provides an overview of the provisions in the new law with the biggest impact on small business. Health Reform Legislation Tax changes Affecting Individuals The attached article is a brief overview of the key tax changes affecting individuals in the recently enacted health reform legislation.

Help for Business Owners Established as "the Official Link to the U.S. Government," Business.GOV at www.business.gov is a unique website for business owners.   American Opportunity Credit For tax years beginning in 2009 and 2010, the Stimulus Act includes taxpayer-friendly modifications to the Hope Scholarship higher education tax credit (Hope Credit).   Traditional to Roth IRA Conversions Four years ago, the Tax Increase Prevention and Reconciliation Act of 2005 (TIPRA) relaxed some restrictive rules preventing many taxpayers from converting a traditional IRA to a Roth IRA, but this favorable change was not effective until 2010.