1、Dont underestimate the power of givingThe R $75,000 AGI for everyone else. Unlike the typical tax credit, this one has to be repaid in equal installments over 15 years. So, in effect, its an interest-free loan from the government to help you buy a new home.Bailout legislationThe Emergency Economic S
2、tabilization Act of 2008 (EESA), commonly known as the “bailout” legislation, includes several tax benefits for individuals and businesses, including alternative minimum tax (AMT) relief for 2008. Although the law didnt address this years AMT liability, its highly likely that AMT relief will be exte
3、nded for 2009 it may even have been extended by the time youre reading this article. Talk to your tax advisor for the latest information and about strategies for reducing or eliminating your exposure.EESA also extended several energy incentives, including the tax credit for energy-efficient res-iden
4、tial property, through the end of this year.Other EESA incentives that may help you reduce your tax bill this year include: Extending the limited property tax deduction (up to $1,000 for joint filers) for nonitemizers, Providing increased relief to employees who exercised incentive stock options bef
5、ore 2008 and then found themselves with a large AMT liability on profits, Extending the option to deduct state and local sales taxes in lieu of state and local income taxes, Extending the above-the-line deduction for certain higher education expenses, and Enhancing the child tax credit.Not all the t
6、ax news is good, though. For example, EESA makes it harder to exclude capital gains on the sale of property you converted into a principal residence. The exclusion is reduced in proportion to any preconversion period of nonqualified use (such as rental or vacation property) beginning Jan. 1, 2009.Su
7、ppose, for example, that you buy a vacation home on April 1, 2009, for $300,000. On April 1, 2011, you move into the home full-time Its more important than ever to start thinking about taxes early67This publication is distributed with the understanding that the author, publisher and distributor are
8、not rendering legal, accounting or other professional advice or opinions on specific facts or matters, and, accordingly, assume no liability whatsoever in connection with its use. 2009 FOCfm09Delivering employee feedback: Accentuate the positivePeople often overlook or take for granted positive acco
9、mplishments and spend excess time dwelling on the negatives. In the workplace, this negative tendency can contribute to poor morale and costly workforce attrition. The next time you or your supervisors provide employees with feedback on areas for improve-ment, remember to balance that feedback with
10、positive comments. And the way to achieve the best results from this feedback is by delivering it: 1. Precisely, 2. Promptly,3. Personally,4. Publicly, and5. Purposefully.Also, avoid generalizations. If employees dont understand exactly what youre praising them for, they wont know what to focus on g
11、oing forward. Make sure you cite the specific accomplishment. Whenever possible, give informal praise as soon as possible following the accomplishment to capture and build on the employees moment of glory. You may want to make small, but important, gestures, such as sending the employee a simple e-m
12、ail or handwritten thank you note, flowers, or a gift certificate to a favorite coffee shop. For more significant accomplishments, follow up with formal public recognition in a company or department meeting as well as citing the employees accomplishments in your company newsletter or in a companywid
13、e e-mail. Such public recognition honors the employee, while demonstrating to others that the company truly appreciates and rewards its employees for their good work. Just make sure the level of recognition fits the significance of the accomplishment. Finally, factor employee accomplishments into fo
14、rmal annual performance and interim progress reviews. Explaining to employees how their accomplishments have supported overall company business goals and then linking their performance to a promotion, raise or bonus will help them better understand how their contribution served a larger purpose.and
15、convert it to your principal residence. On April 1, 2013, you sell the home for $600,000. Under the old rules, you could have excluded your entire $300,000 gain. But under the new rules, because your use of the home is nonqualified for two of the four years you own it, your capital gain exclusion is
16、 limited to $150,000 (two years/four years x $300,000).Note that this rule doesnt apply in reverse. In other words, if you convert a principal residence to a nonqualified use, such as rental, you can still take advantage of the full exclusion (provided you otherwise qualify).Plan nowTo take advantage of these and other tax-saving opportunities that are yet to come, start plan-ning now. Many tax strategies require some lead time if you wait until the end of the year it may be too late.
