The Potts Report tag:typepad.com,2003:weblog-1344170 2009-12-18T06:55:59-06:00 Potts & Company ~ Certified Public Accountants TypePad Is the Standard Deduction Standard Any More? tag:typepad.com,2003:post-6a00e008cfcf6488340120a762e0d6970b 2009-12-18T06:55:59-06:00 2009-12-18T06:58:59-06:00 Let’s start with a short income tax review course. In calculating your taxable income you deduct the greater of the standard deduction or your itemized deductions from your adjusted gross income on the way to determining your taxable income. Taxable... T David Potts Should I Buy A Car Before December 31? tag:typepad.com,2003:post-6a00e008cfcf64883401287656106c970c 2009-12-14T12:00:00-06:00 2009-12-18T06:59:31-06:00 If you buy a NEW car or truck on or before December 31, 2009, you will qualify for an income tax deduction for the sales tax or excises tax paid on the portion of the cost that does not exceed... T David Potts Simply Looking At Your Financial Statements Will Make You Money! tag:typepad.com,2003:post-6a00e008cfcf6488340120a555299d970b 2009-09-07T20:11:05-05:00 2009-09-07T20:14:47-05:00 Simply looking at your financial statements and paying attention to them will make you money. If you are one of the many small business owners who doesn't even prepare financial statements until the end of the year and then only... T David Potts The American Opportunity Tax Credit tag:typepad.com,2003:post-6a00e008cfcf648834011571613f49970c 2009-08-03T06:03:41-05:00 2009-08-03T06:03:41-05:00 It’s August. The Fall semester of college starts at many universities this month. Although it is not as generous as the first time homebuyer’s credit or the cash for clunkers vouchers for buying a new car, the American Recovery and... T David Potts Good News, Bad News tag:typepad.com,2003:post-6a00e008cfcf6488340115713a20fe970c 2009-07-24T06:42:33-05:00 2009-07-24T06:42:33-05:00 Follow this link to read an interesting and informative opinion piece published yesterday’s Wall Street Journal: The Economy Has Hit Bottom T David Potts The City Wire tag:typepad.com,2003:post-6a00e008cfcf64883401157107ea8c970c 2009-07-13T06:09:06-05:00 2009-07-13T06:09:06-05:00 Although The City Wire is read by many people in the greater Fort Smith region, I find there are still those who haven’t yet learned this most excellent online “newspaper” exists. That’s a shame. Therefore do yourself a favor and... T David Potts Nonbusiness Energy Property Tax Credit tag:typepad.com,2003:post-6a00e008cfcf648834011571e40b2a970b 2009-07-09T05:16:27-05:00 2009-07-09T05:21:44-05:00 The American Recovery and Reinvestment Act of 2009 reinstated and amended the non-business energy property tax credit. The credit is for people who spend money on their principal residence for new improvements or certain new equipment that increase the energy... T David Potts Change is Coming. Get Ready! tag:typepad.com,2003:post-6a00e008cfcf648834011571c2a2d2970b 2009-07-05T16:10:34-05:00 2009-07-05T16:14:42-05:00 2009 is just past its midpoint. The long 4th of July weekend allowed me the time to consider the course of action Potts & Company should take over the next six months. Then that sleight feeling of anxiety arrived. The... T David Potts Want to Know Whats In Your Future? tag:typepad.com,2003:post-6a00e008cfcf6488340115708b9c39970c 2009-06-28T20:52:36-05:00 2009-07-09T05:23:03-05:00 Higher taxes! Read the following paragraph, the last paragraph in the summary, from the publication titled The Long-term Budget Outlook – June 2009 published by the Congressional Budget Office. CBO’s long-term budget projections raise fundamental questions about economic sustainability. If... T David Potts The Potts Report Returns tag:typepad.com,2003:post-6a00e008cfcf648834011571728c63970b 2009-06-27T21:26:00-05:00 2009-07-09T05:23:34-05:00 The Potts Report has been inactive for several months. I began The Potts Report without a clear vision of what I wanted it to achieve. Who was my audience? Who was I writing for and on what topics did I... T David Potts