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Welcome and thank you for visiting our Website. In addition to providing you with a profile of our firm and the services we provide, this Website has been designed to become a helpful resource tool to you, our valued clients and visitors. Our dedication to superior client service has brought us to the Internet as we endeavor to continue to provide the highest quality professional service and guidance.

As you browse through our Website, you will see that not only have we highlighted background information on our firm and the services we provide, but have also included useful resources such as informative articles (in our Newsletter section) and interactive financial calculators (in our Tools section). In addition, we have taken the time to gather many links to external Websites that we felt would be of interest to our clients and visitors (in our Links section).

If you are a new client or a current client, please take advantage of the client organizer in the (info center section). This organizer is complete and will make you aware of any information needed to complete your tax returns. You can print a copy from this link.

While browsing through our Website, please feel free to contact us with any questions or comments you may have - we'd love to hear from you. We pride ourselves on being proactive and responsive to our clients' inquiries and suggestions.

The following are some key tax law changes for 2009:

First time homebuyer credit. At this time, homebyers have to have a signed contract by April 30, 2010 and must close the home purchase by Jume 30, 2010. First time homebuyers are eligible for an $8,000 credit. If you have owned and lived in your previous home five out of the last eight years you are eligible for a $6,500 credit

Sales tax deduction for new vehicles. This credit applies to the purchase of new cars, motor homes, light trucks and motorcycles purchased after February 16, 2009 and before January 1, 2010. The sales tax paid on the first $49,500 qualifies. This means that if you bought more than one of these vehicles and the total paid is no more than $49,500 you can deduct the tax paid on all of them. If you don't itemize you can add the tax to your standard deduction, $5,700 in 2009.

Credit for residential energy-saving improvments to your home. The old credit was 10% and it has been increased to 30% for 2009 and 2010, up to $1,500, in the two year period. It applies to windows, doors, skylights, water heaters, furnaces and central air units. The installation must be rated energy effcient so check with the supplier to make sure they are before you buy them.

There is an additional 30% credit of the cost of installing solar electric or heating, geothermal heat pumps or small wind turbines in your primary residence or second home. The credit is no longer limited to $2,000.

College tuition tax credit. For 2009 and 2010 the Hope credit is replaced by a new credit of up to $2,500 per student a year for four years of college, not just the first two years. The cost of books for school, computers and internet access for school can be included for the credit.

Higher income limits for deductible IRAs and for Roth IRAs. If you have a retirement plan at work already, you can still take a full IRA deduction in 2009 if your if your modified adjusted gross income is less than $89,000 (married filing joint) or $55,000 (single or head of household)The IRA contribution limit is $5,000 ($6,000 if 50 or older).

The opportunity to contribute to a ROTH IRA phases out as your modified adjusted gross income (MAGI) rises between $166,000 and $176,000 (married filing jointly) or $105,000 to $120,000(single or head of household).

Starting in 2010 the $100,000 MAGI cap that was used to phase out conversions of regular IRA to ROTH IRAs is gone. You can covert your traditional IRA to a ROTH and you have two years to pay the tax, half in 2011 and the other half in 2012. ROTH IRAs grow tax free and when you finaly take the distributions when you retire they come out tax free. You are also not required to take distributions from the ROTH IRA. You are required to take distibutions from a regular IRA by April 1 of the year following the year you turn 70 1/2. The advantage is longer tax free growth or leaving the ROTH IRA in tact for your heirs.

If you cannot take advantage of a dedcutible IRA due to MAGI limits and the fact that you are already covered by an employer plan,you can start a non dedcutible IRA in 2009 and convert it in 2010 to a ROTH.

Partial exclusion for Unemployment benefits. For 2009, the first $2,400 of unemployment benefits you receive is tax free.