David Hamilton

Deadline Nears for Small Biz Stimulus Tax Breaks WASHINGTON, D.C. (AUGUST 19, 2009) BY WEBCPA STAFF The IRS said that time is running out for many small businesses that wish to take advantage of the tax breaks in the stimulus bill. Eligible individuals have until Oct. 15 to choose the expanded business loss carry back option included in this year’s American Recovery and Reinvestment Act, and eligible calendar-year corporations have until just Sept. 15. The carry back provision offers small businesses that lost money in 2008 a way to quickly get much-needed cash if they were profitable in previous years. The option is only available for a limited time, so small businesses should consider it carefully and act before it’s too late, said the IRS. ADVERTISEMENT Under the Recovery Act, many small businesses that had expenses exceeding their income for 2008 can choose to carry the resulting loss back for up to five years,
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Last Activity: 1/12/2010
Member Since: 6/25/2009

  • January 12

  • David Hamilton created the topic: Commercial Equipment Leasing 2010
    about 3 years agoComment

  • November 06

  • David Hamilton is friends with Patricia Boyd
    about 3 years ago

  • August 27

  • David Hamilton Deadline Nears for Small Biz Stimulus Tax Breaks WASHINGTON, D.C. (AUGUST 19, 2009) BY WEBCPA STAFF The IRS said that time is running out for many small businesses that wish to take advantage of the tax breaks in the stimulus bill. Eligible individuals have until Oct. 15 to choose the expanded business loss carry back option included in this year’s American Recovery and Reinvestment Act, and eligible calendar-year corporations have until just Sept. 15. The carry back provision offers small businesses that lost money in 2008 a way to quickly get much-needed cash if they were profitable in previous years. The option is only available for a limited time, so small businesses should consider it carefully and act before it’s too late, said the IRS. ADVERTISEMENT Under the Recovery Act, many small businesses that had expenses exceeding their income for 2008 can choose to carry the resulting loss back for up to five years, instead of the usual two. This means that a business that had a net operating loss in 2008 could carry that loss as far back as tax-year 2003, rather than the usual 2006. Not only could this mean a special tax refund, but the refund could be larger, because the loss is being spread over as many as five tax years, rather than just two. This option may be particularly helpful to any eligible small business with a large loss in 2008. A small business that chooses this option can benefit by: • Offsetting the loss against income earned in up to five prior tax years; • Getting a refund of taxes paid up to five years ago; • Using up part or all of the loss now, rather than waiting to claim it on future tax returns. Under the Recovery Act, eligible taxpayers can choose to carry back a NOL arising in a taxable year beginning or ending in 2008 for three, four or five years instead of two. The option is available for an eligible small business, or ESB, that has no more than an avera
    about 3 years ago

  • July 19

  • David Hamilton has joined  David Hamilton joined the group Marketing.
    about 3 years ago

  • July 14

  • David Hamilton is friends with David Hamilton
    about 3 years ago

  • July 06

  • David Hamilton is friends with David Hamilton
    about 3 years ago

  • July 01

  • David Hamilton We have started to see yet another surge in applications from all over the country. Th second half of the year is the busiest time of the year for Equipment Financing. Companies are taking advantage of tax breaks and gearing up for 2010 where they will need equipment to grow their business. I encourage everyone to put the word out to their business network that if they need equipment and want to get pre-approved for 100% financing, they need to send their prospects to thier American Agent site and have them fill out an application today. We can pre-approve them and they will have a 90 day open window to use the funds, and remember a one page application can get up to $100,000 in an approval, banks can't touch this program. Sincere Regards David Hamilton
    about 3 years ago