The straight line

Businesses, retirees, and self-employed individuals who owe quarterly payments or who must file various returns will have extra time to do both. Due dates vary but you can find details for your state and county on the IRS Web at: http://www.irs.gov (click on: “IRS Provides Disaster Relief to Ike Victims”)

As I write this article on Tuesday morning, September 30th, the stock market is in turmoil. Coming off of the single day largest loss in the Dow Jones history, I am fielding calls from nervous and anxious clients asking for tax advice, mostly dealing with investment losses and portfolio declines.

We would like to thank all of you for your kind words, thoughts and prayers regarding the passing of Mary Gardiner, Dan’s wife and mother to Mark, Dennis and Darcy. We find comfort in your support and appreciate you for keeping us in your hearts.

Although I like to think I am not that old, I remember when we went to lumberyards, hardware stores and meat markets for our specific needs, and we received personal service from individuals who knew their merchandise. It’s unfortunate that we don’t have many shops like that anymore. I feel bad for my kids because a ‘lack of personal service’ is what they are going to experience as a norm as they mature– all because it has been run out of town by the big box stores. It’s time to raise our standards.

The employer must hire designated community residents. A designated community resident is a new employee who is at least 18 and has not reached the age of 40, and who lives in a designated county. 30 counties in Iowa qualify and 35 counties in Nebraska qualify as a designated county - as well as many counties in surrounding states. Please note that it is the employee that must reside in a designated county. It is not relevant where the employer is located.

The Codification reorganizes the 1000’s of U.S. generally accepted accounting principles (GAAP) pronouncements into 90 accounting topics, and displays them all using a consistent structure. Pronouncements from multiple standard setters and related literature are covered. It is intended to reflect GAAP for non-governmental entities.