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April _______________________________________________ 2009
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E-News Schedule 
During the 2009 tax season, our E-Newsletter will be sent on a monthly basis and from July-December we will be sending our E-Newsletter every other month.
 
                                    
 
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Top Ten Facts About the Child and Dependent Care Credit 
 
If you paid someone to care for a child, spouse, or dependent, you may be able to reduce your tax by claiming the Child and Dependent Care Credit on your federal income tax return.
 
Click Here to read the top ten things you need to know about claiming a credit for child and dependent care expenses.
 
 
Have you missed past issues of our E-Newsletter?
 
To access past issues, please visit our website by clicking here. 
 
FishingDoes it seem like the dwindling snow banks just won't disappear? Are you getting antsy waiting for the tulips to make their way through the soil? Looking on the bright side, what does every spring have in common?  The snowbanks do eventually recede, the mud will inevitably dry up and consistently warm days do roll around! 
 
While we are all waiting for these seasonal shifts, here are a few tax tips and upcoming events to keep in mind.
Do You Barter?
Bartering is the most ancient form of commerce. While our ancestors may have exchanged eggs for corn, today you can barter computer services for auto repair.
 
Here are a few things you should know about bartering: 
· Barter Income Barter dollars or trade dollars are identical to real dollars for tax reporting. If you conduct any direct barter - barter for another's products or services - you will have to report the fair market value of the products or services you received on your tax return.  
Read More about:
Barter Exchange. Taxes, Reporting
 
For additional information provided by the IRS on bartering, please click here, or contact your accountant. 
CarThe American Recovery and Reinvestment Act of 2009 provides a deduction for state and local sales and excise taxes paid on the purchase of new cars, light trucks, motor homes and motorcycles through 2009.  The deduction is available regardless of whether a taxpayer itemizes deductions on Schedule A. 
Purchases before Feb. 17, 2009, are not eligible for this special deduction. 
The deduction is limited to the tax on up to $49,500 of the purchase price of an eligible motor vehicle.  The deduction is phased out for joint filers with modified adjusted gross income between $250,000 and $260,000 and other taxpayers with modified AGI between $125,000 and $135,000. 
 
Read More      
Download a pdf file from our Website that summarizes the 2009 American Recovery and Reinvestment Act.
Spring Seminar 
Accounting and Commercial Lending in a Challenging Economy Complimentary Spring Seminar
Wednesday, May 20, 2009
8:00 - 10:30 am
Hilton Garden Inn, Auburn
 
Co-Hosted by:
Austin Associates, PA and
Camden National Bank 
Austin Associates and Camden National Bank are pleased to
invite you to a complimentary morning seminar to be held at
the Hilton Garden Inn Riverwatch, Auburn. 
Your panelists will discuss numerous financial strategies that directly effect your business, including:
        
· Cash Positioning & Management
· Accounts Receivable & Collections
· Gross Mark Up vs. Gross Profit
· Accurate Accounting & Reporting
· Elements of Costing
· Managing your Line of Credit
· Commercial Lending
· Merchant Services  
The morning will include a continental breakfast, coffee & tea.
As seating is limited, please call Louise or Carol at
207-783-9111 or email your RSVP, hillary@austinpa.com, to pre-register today!

Oxford Hills Chamber LogoWe're Hosting the Business After Hours of the Oxford Hills 2009 Business Showcase!!

Eat, Play & Stay Local
Saturday, May 9, 2009 
 
This newly designed one day Showcase provides local businesses and owners a unique opportunity to do both business-to-business networking and a chance to display their goods and services to the general public.  The schedule of events for the new design includes:
 
9:00 am - 1:00 pm: Showcase open to the public
1:00 pm - 5:00 pm: B2B networking with speaker Jim  Bouchard and Business After Hours Hosts Austin Associates
6:00 - 7:00 pm: Showcase Social at Four Seasons Function Center