THEROUX & NOWELL, LLC

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SIGNIFICANT RECENT CHANGES:

CLICK HERE BEFORE MAKING ANY MORE GIFTS!

Don't have to file?

THINK AGAIN!!

The upcoming rebates, just signed into law, provide for a minimum of $300 per person, provided they have at least $3,000 in "qualifying income," which includes Social Security and Veterans' Disability payments.

The catch...the IRS will not be issuing rebates to anyone who DOES NOT FILE FORM 1040 for 2007.  They are, in effect, relying on the database provided by 2007 return filers to determine who gets a rebate and how much they get.

So even if you don't normally file, MAKE AN EXCEPTION this year!  Unless $300 isn't all that important to you!

This also serves as an incentive to get caught up on filing returns.  If you are behind on filing, you have until 12/31/08 to file your 2007 return.  After that, your rebate is GONE!

Mileage rate - now up to 50.5 cents per mile.  I wouldn't be surprised to see this rate go higher before the end of 2008.

WARNING!  To any CT businesses who hire out-of-state contractors...the state is shifting the burden to YOU to ensure that your contractors are registered with the State of CT and paying Sales Tax when appropriate.  You may have to withhold Sales Taxes from payments to such contractors.  This policy change is effective October 1, 2005.  Call your accountant for more details!

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