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While undertaking tax preparation for 2009, you have to be aware of the changes in the tax laws in order to reap the maximum benefit. Given below is the list of the changes which are applicable to small businesses, as explained on the government website for business resources business.gov. Though this list covers the major changes in tax law and will help you in tax preparation, you should consult your tax advisor or CPA for a comprehensive analysis of those applicable to your business. Also keep visiting the official Internal Revenue Service (www.irs.gov) website for the latest updates.
Major changes in tax laws of 2009 include:
It is very important for you to plan your business tax according to these new tax laws. But these laws are ever-changing and you need to keep a track of them each year. If tax preparation and keeping track of business tax laws seems too much of a hassle for you, you can hire an expert tax advisor or a firm which provides tax preparation services. You can also try outsourcing tax preparation. In case you have confusions or questions regarding tax laws, try consulting a professional who specializes in business tax preparation.
ARTICLE SOURCE: http://www.community.business.gov/t5/Government-Resources-for/Tax-Law-Changes-for-2009-What-s-New-for-Your-Small-Business/ba-p/60
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