Last year, Congress authorized the IRS to provide “Economic Stimulus Payments” (often abbreviated ESP). Many of our clients received these payments last year. They were worth $300 if you had any income at all, $600 if you owed income tax, plus $300 per dependent child.

This year, ESP’s twin is the Recovery Rebate Credit, or RRC. The calculations are the same, the law is the same, but the name is different.

While this is confusing for some people, just remember it this way:

• The ESP is based strictly on 2007 tax return information
• The RRC is based strictly on 2008 tax return information
• You’ll get whichever amount was higher. If RRC is higher, consider the ESP an advance; you’ll get the difference this year.

Categories: Tax News and Tips
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To introduce you to our new home office (and prevent confusion with the international branches), we’d like to invite you to a Full Potential open house!

January 1st, from 2 pm to 4 pm, we’ll have drinks and appetizers and an open door for anyone who would like to drop by.

Categories: Full Potential News
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There are many difficult choices that business owners have to make, and none is as challenging as deciding how to respond to a difficult economy or the need to move. We have come to a decision regarding this and have decided to move the office back home.

The majority of our clients are small businesses; many of them are in real estate and construction. We understand their need to cut back or delay services. If we knew that the economy would recover in just a few months, we’d happily tough it out, but the pessimists are talking about years of slower economic activity.

We bought our home because it has a lower floor that can be dedicated to office space. We’ll be moving the majority of our furniture back in, and you should feel just as at home as we do. During regular business hours (which are unchanged), just come on in!

The move is timed to start in the second week of December and we should be completely finished by January 1st.

Categories: Full Potential News
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