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Fish lovers beware!

August 9th, 2010 by Janet Kerr

Do you know where your fish is coming from?  Although the ocean is contaminated, fishermen have resumed fishing in Louisiana.  Besides mercury, reports show at least seven toxic chemicals in fish througout the US.

Contaminants include PBDEs, a common flame retardant; PCBs (polychlorinated biphenyls); Arsenic, which causes liver poisoning, and liver and bladder cancers; Chlorinated dioxins, an industrial chemical and known carcinogen; DDT, one of the most infamous pesticides; Melamine; and Oil.  See full article and slides

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Should we ignore her?

August 5th, 2010 by Janet Kerr

Have you ever read the story of the Good Samaritan? Ever thought of its relevance to you?  Well today, I was touched by an email from a friend to assist a cause.  Now in these trying times, with not much to go around, we are constantly bombarded with emails and loads of appeals for help from all over the globe.  Some legitimate, others just a fraud.  For some reason, this email got my attention.  Perhaps it is because of my close friendship with the sender or perhaps it was just the Spirit of God speaking to my heart to help this cause in whatever way I could.  Now, I do not know this individual but I am saying here that this is everyone’s opportunity to be a Good Samaritan.  Read more …

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Education Tax Incentives

August 4th, 2010 by Bryan Kerr

From IRS Tax Advocate Program

Education Credits
The Hope Scholarship Credit and the Lifetime Learning Credit help offset the cost of post-secondary education for you, your spouse or a dependent. For tax years 2009 and 2010, the Hope Scholarship Credit is renamed the American Opportunity Tax Credit and the amount of the credit has been increased. However, you cannot claim both the American Opportunity Tax Credit and Lifetime Learning credits for the same student in the same year. Both credit amounts are determined based on your modified adjusted gross income and your filing status. If your modified adjusted gross income exceeds certain limits, both credits are either reduced or eliminated. Furthermore, you cannot claim either credit if you are married filing a separate return or claimed as a dependent on someone else’s return. Read more …

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Tax implication on cancellation of debt

August 4th, 2010 by Bryan Kerr

From IRS Tax Advocate Program

If you borrow money and the lender later cancels or forgives that debt, you may have to include the canceled amount in income for tax purposes, depending on the circumstances. For example, you borrow $10,000 and default on the loan after paying back $2,000. If the lender is unable to collect the remaining debt from you, there is a cancellation of debt of $8,000, which generally is taxable income to you. Read more …

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Five Tax Scams to Avoid this Summer

August 4th, 2010 by Janet Kerr

From IRS

IRS Summertime Tax Tip 2010-08

The Internal Revenue Service issues a list of the top 12 tax scams each year – known as the Dirty Dozen. The scams are illegal and can lead to problems for taxpayers including significant penalties, interest and possible criminal prosecution. These scams don’t just happen during the tax filing season, they can happen anytime during the year. Here are five scams from the 2010 Dirty Dozen list every taxpayer should be aware of this summer. Read more …

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IRS Offers One-Time Special Filing Relief Program for Small Charities

August 1st, 2010 by Janet Kerr

From IRS

Issue Number: 2010:32

The IRS has announced that small nonprofit organizations at risk of losing their tax-exempt status because they failed to file required returns for 2007, 2008 and 2009 can preserve their status by filing returns by Oct. 15, 2010. IRS Commissioner Shulman made the following comments regarding the special filing relief.

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Seven Things to know about the Taxpayer Advocate Service

July 29th, 2010 by Janet Kerr

From IRS

IRS Summertime Tax Tip 2010-10

The Taxpayer Advocate Service is an independent organization within the Internal Revenue Service.  TAS helps taxpayers who are experiencing economic harm such as not being able to provide necessities like housing, transportation, or food, taxpayers who are seeking help in resolving problems with the IRS, and those who believe an IRS system or procedure is not working as it should.  Here are seven things every taxpayer should know about TAS.  Read more …

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Announcement

July 29th, 2010 by Janet Kerr

You can now receive our blog feed from the RSS/Blog tab on Kerr & Kerr Facebook Page or by subscribing directly from our blog.

Some of our lastest updates on topics from IRS, business, health, politics, and general world news are now available on Kerr & Kerr Twitter Feeds.  
Read more …

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Career advice articles

July 21st, 2010 by Janet Kerr

The following is a link to articles with career tips.  Articles discuss how to improve a resume, individual appearance, as well as attitudes and behaviours.

Click here to access articles

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Tips for women in business

July 21st, 2010 by Janet Kerr

Today’s blog addresses the critical issue of how women can achieve even greater success in business. Although it’s hard to believe, less than 5 percent of CEO’s are women! Only 3 percent of Fortune 500 organizations have women at the helm, and just 15 percent of Fortune 500 board seats are held by women. Ladies, this sucks!

In our experience, this is being fueled by seven negative behavioral patterns that are stopping women from getting ahead. (And men too). Here are our suggested tips:

Click here for entire article

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Blog Home


Weekly Thought

God purifies us through tribulation so He can see the reflection of His image in us in the same way a Silversmith works with silver until he sees his own reflection

Read more ...

Verse For Today

The law of thy mouth is better unto me than thousands of gold and silver - Psalm 119:72 KJV