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BP Deepwater Horizon Spill Settlement – Your Business May Qualify for Compensation

The new Deepwater Horizon Court-Supervised Settlement is now open and accepting claims. This new program is a dramatic shift from the prior Gulf Coast Claims facility headed by Kenneth Feinburg.  Your businesses may qualify even if not located on the coast or involved in tourism. The geographic area of the settlement includes all of Alabama,…
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Gulf Coast Property Owners Can Receive Over $1,000

Do you own a condo on the Gulf Coast?  If you owned it on April 20, 2010, you are eligible for a payment being administered by the U.S. District Court-Eastern District of Louisiana because of the Deepwater Horizon Economic & Property Damage Settlement.  Under this settlement, no physical damage to your condominium is required.  This…
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An Overview of the Medicare Surtaxes

As we wind down 2011, we are already beginning to take a look at 2013 with tax planning in mind. Why? Absent any legislative tinkering to the tax code in this upcoming election year, nearly all taxpayers can expect a big tax hike beginning in 2013. Here is a rundown of just a few changes…
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Our Take on the Herman Cain 9-9-9 Plan

Herman Cain and his 9-9-9 Plan have received considerable attention over the past several weeks. Cain’s plan has been lauded for its simplicity and transparency while at the same time derided for its lack of detail and the perception that it will be insufficient to collect the revenue of the taxes it would replace. The…
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Tax Summary: The American Jobs Act

Last week President Obama unveiled The American Jobs Act, a multi-faceted plan to boost the nation’s employment. Here are the tax provisions included in the proposal: Employer Payroll Tax Cut For 2012, the American Jobs Act would cut the employer Social Security tax rate from 6.2% to 3.1% on wages up to $5 million. Additionally,…
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2011/2012 Year-End/Year-Round Tax Planning Guide

At Dent, Baker & Company, LLP, we are committed to being your most trusted advisor. Our tax professionals are dedicated to providing comprehensive methods for determining tax-saving strategies, helping you accomplish your financial goals and preserve your family’s wealth. To that end, enclosed please find our 2011/2012 Year-End/Year-Round Tax Planning Guide. As you read through…
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2009 Jefferson County Occupational Tax Refund Update: Employer Reporting Extension Granted

According to The Birmingham News, the judge presiding over the 2009 Jefferson County Occupational Tax refunds has granted an extension for employers to report the employment data required by the Special Administrator to compute employee refunds. The extended deadline is September 15th. For additional information on the employer reporting requirements, please refer to our previous…
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The Tax Case for Investing in Your Business Now

Businesses can deduct most asset purchases over periods ranging from 3 to 15 years. However, in recent years, businesses have been able to deduct most, if not all, of the cost of these same assets in Year 1 thanks to two key tax provisions – the Section 179 business expensing election and bonus depreciation. After…
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Keys to Effective Business Cash Flow Management

Plain and simple, businesses fail when they run out of cash. Depending on their attractiveness to lenders and the equity markets, some businesses may exist for many years without generating the first dollar of cash. But at some point, every business has to generate cash to survive, and this basic tenet of business holds true…
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