Austin Associates 2008 E-Newlsetter
February  _____________________________________________  2008
In This Issue
BETR Program
Economic Stimulus Payments
Simplified Accounting
Agricultural Trades Show

Business Equipment Tax Reimbursement: BETR Program Equipment eligible for the Maine BETR Program includes qualified property first placed in service in Maine after April 1, 1995.  "Qualified" property is property used or held exclusively for a business and subject to an allowance for depreciation.  Examples of qualified property include: computers, photocopy machines, shop tools, etc.  To learn more about the BETR program please visit the Maine Revenue Service website


Quick Links
 

We hope that you have found this information useful.  If you have any questions please contact one of our offices, located in Auburn, Norway and Windham and we will be happy to assist you.

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Auburn (207) 783-9111

Windham (207) 892-6642

Norway (207) 743-7777

From Locations Within Maine 1-800-605-9263
 
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-Thank you-
 

2 Hearts

For some, the beginning of February conjurs an image of Cupid shooting arrows.  For others, the W-2s and W-9s are in and it's time to crunch numbers and complete tax returns.
 
Whether your Valentine's Day was one to celebrate with a box of chocolates and red roses or a late night at the office, we hope that we can do our part to make the remainder of February a little sweeter.  May this month's tips and information hit the bullseye of your target goals for your business or personal accounting.
 
 
Austin Associates, PA, CPAs
 
2008 Economic Stimulus Payments
IRS News Release Februray 2008
 
The IRS will send Stimulus Payments automatically to eligible recipients starting in May; eligible tax payers must file a 2007 tax return to receive rebate...
Read More: 
Facts    -      Overview      -
 
Pen in hand 
Simplified Accounting 
Tom Muller
Management Advisor
 

For most successful small business people, selling and delivering products and services must be their principal focus.  Keeping track of the money, accounting, frequently takes a back seat.  We accountant's used to see receipts and deposit slips in shoeboxes at year-end.  Many small businesspeople had only two goals for their accounting "system": keep a positive checkbook balance and file a tax return with as little tax as possible.  The cost of turning shoebox accounting into tax returns and financial statements was staggering. With the growth of inexpensive, easy to use computerized accounting systems such as QuickBooks, these two goals are easier to achieve, but additional benefits are also within reach.  Real-time reports from these systems enable small business owners to spot trends in sales and costs that can be optimized before year-end, leading to greater profits, better cash flow or lower taxes.  Sending these files to us electronically can hold down the cost of public accounting services.

 
To download a .Pdf file of the entire article, click here
To download an Adobe PDF file of Tom's article please visit the information center on our website.
Agricultural Trades Show Maine 
2008 Maine Agricultural Trades Show 
 
Austin Associates, PA, CPAs has been an exhibitor at the Maine Agricultural Trades Show for over 2 decades and has proudly served Maine farmers for over 50 years. It was our pleasure to join the vast array of farmers, suppliers and supporters of our state's agriculture community at the Augusta Civic Center in January.  To learn more about the services offered by CPA's specializing in this industry, please call our Auburn office at 207-783-9111 or email us.