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Cost Segregation SALT		International Tax Tax Credits

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Senate Passes Tax Relief and Health Care Act of 2006
The Tax Relief and Health Care Act of 2006, H.R. 6111, extends and/or modifies many important tax provisions. The bill also carries a number of non-extender provisions. Contact your Hood & Strong LLP tax professional for additional details.

2006 Year-End Tax Planning Guide Available Online
New federal tax laws, combined with a steady stream of new cases, rulings and regulations, could complicate your tax planning strategies at year-end. Consult our easy to use, always current online guide for individual and business tax guidance.

Tax Increase Prevention and Reconciliation Act (TIPRA)
President Bush recently signed the TIPRA into law. The Act provides a variety of tax breaks that may apply to you. Specifically, it extends expensing rules for small businesses and tax rate reductions on dividends and capital gains.

President's Panel on Tax Reform Issues Final Report
The report includes two options for reforming the tax code. One option is the Simpliﬁed Income Tax Plan and the other option is the Growth and Investment Tax Plan. Both options satisfy the President’s directive to recommend options that are simple, fair, and progrowth.

2005-2006 Tax Guide
2005 Payroll Tax Table


	Internal Revenue Service IRS - Forms & Instructions IRS - Tax Regulations California Franchise Tax Board Social Security Administration Applicable Federal Rates

While most businesses and individuals look for eligible deductions in order to lower their tax bills – you probably will be better served looking for tax credits. The difference between a deduction and a credit is that a credit reduces the tax, while a deduction reduces the amount of income that is taxed.

Our tax professionals stay abreast of available federal and state tax credits, their rules and regulations, and can help you to identify, apply and maximize your tax credit savings. So whether you need assistance with Economic Development Area Credits (EDAs) or Low-Income Housing Tax Credits (LIHCs) – call on our team of specialists to help.

In accordance with Circular 230, information on this website is intended to be used for informational purposes only and should not be acted upon without consulting a professional. Information is not to be used by any taxpayer for the purpose of avoiding penalties that may be imposed on the taxpayer by the Internal Revenue Service. No one, without our express prior written permission, may use or refer to any advice on this website for communication in promoting, marketing, or recommending to any other party.