Current Items of Interest -- This page is dedicated to articles that will help you achieve optimum tax planning, and will help in understanding many important issues of the day.  Check back frequently, as the content of this page will be continually updated with current, relavent information.  If you have a request on a particular topic, please feel free to contact us. To view the articles, just click on the title.  You will need Adobe Reader 5.0 or above.  Click here to download Adobe Reader free. Do you have questions not addressed here? Under Planning Resources and Tools there are hundreds of articles on personal, business, and estate tax planning; education, personal finance and investment planning; retirement and government benefits; and more. You can also find many helpful Calculators here. Here are Links to several other useful and interesting web sites. You are also welcome to email your questions.  We'll do our best to direct you to a helpful answer. IRS Rebate Checks Beginning May 2008   As the end of the year approaches, it is a good time for you to engage in tax planning. You know your tax picture from earlier in the year and you have a pretty good idea of what it will be for the rest of the year. With that knowledge in hand, you are now in a position to take various actions that may save taxes for this year, next year, or both years.  Recent Developments 3rd Qtr 2007 There were a number of important tax developments that occurred in the past three months that may affect you, your family, and your livelihood. I've summarized these developments below. Please call us for more information about any of these developments and what steps you should implement to take advantage of favorable developments and to minimize the impact of those that are unfavorable.  Highlights of the Tax Relief and Health Care Act of 2006 The Act is a wide-ranging measure that preserves a variety of popular tax breaks for families and businesses, and includes new tax breaks as well. The new law is almost overwhelming “good news” for taxpayers, particularly because it retroactively restores and extends key tax breaks that went off the books at the end of 2005. These include the election to deduct state and local general sales tax, the deductions for higher education expenses and for schoolteachers' books and supplies, and the research credit.   Highlights of the Pension Protection Act of 2006 This Act is a massive tax bill that overhauls the funding and disclosure rules for defined benefit plans, addresses conversions of pension plans to cash balance plans, carries liberalized payout and rollover rules, and makes a host of other changes relating to pension plans and their beneficiaries. Here's an overview of the key tax changes in this important new legislation.  Overview of Tax Changes in the Energy Tax Incentives Act of 2005 The Energy Tax Incentives Act of 2005 contains a $14.5 billion package of tax breaks that include both renewable energy provisions and incentives for the oil, gas, coal, and nuclear industries.  Here's a summary of the more widely applicable tax changes in the Act. How Our Correspondence With You Will Be Affected by IRS Regulations New IRS Regulations require us to add certain standard language to many of our letters, memos, e-mails, and other correspondence concerning federal tax matters unless we are willing to undertake extensive analysis of the facts underlying a transaction and legal authorities that address the tax treatment of the transaction. This includes written advice concerning planning related to, or the application of, any federal tax to your business or personal affairs and would include business and personal tax planning and preparation written advice and written advice pertaining to estate planning or estate tax matters.  For more information click on the above link to view the complete letter.   You've probably heard that the government is going to be sending rebate checks to most Americans in an effort to stimulate the economy. This letter explains, among other items, who gets rebates, how they are calculated, how higher income can reduce or eliminate a rebate, and what, if anything extra, you'll need to do to get one.   Year-End Tax Planning Opportunities