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Essex & Associates::www.essexinc.biz                 Dec. 15, 2009
Greetings! 
PC 26
Curtis and Leroy saw an ad in the Putnam County News Newspaper in Eatonton, GA.
And bought a mule for $100.
The farmer agreed to deliver the mule the next day.
The next morning the farmer drove up and said, "Sorry, fellows, I have some bad news, the mule died last night."
Curtis and Leroy replied, "Well, then just give us our money back."
The farmer said, "Can't do that. I went and spent it already."
They said, "OK then, just bring us the dead mule."
The farmer asked, "What in the world ya'll gonna do with a dead mule?"
Curtis said, "We gonna raffle him off."
The farmer said, "You can't raffle off a dead mule!"
Leroy said, "We shore can!  Heck, we don't hafta tell nobody he's dead!"
A couple of weeks later, the farmer ran into Curtis and Leroy at the Piggly Wiggly grocery store and asked, "What'd you fellers ever do with that dead mule?"
They said, "We raffled him off like we said we wuz gonna do."
Leroy said, "Shucks, we sold 500 tickets fer two dollars a piece and made a profit of $898."
The farmer said, "My Lord, didn't anyone complain?"
Curtis said,"Well, the feller who won got upset. So we gave him his two dollars back."
Curtis and Leroy now work for the government.
They're overseeing the Bailout Program.

PC 25
 
Limit all US politicians to two terms.
One in office
One in prison
Illinois already does this!
 
Tax Savers,

IRS to Begin Employment Tax Study in February 
 
Watch out small business owners! The Internal Revenue Service plans to conduct a three-year research study on employment tax compliance starting in February, 2010. They are going to "look at" how you pay yourself, contractors and employees.
 
The IRS said it will randomly select thousands of small business owners each year for the next three years for comprehensive examinations to collect data on employment tax filers.
 
Examinations for the study will be conducted to collect data that will allow the IRS to understand the compliance characteristics of employment tax filers (1099's, 941's, 940's, W-2's, etc.).
 
The results will allow the IRS to gauge more accurately the extent to which businesses properly comply with employment tax law and related reporting requirements. When completed, this information will help the IRS select and audit future employment tax returns with the greatest compliance risk.
 
There are two main goals for the research project: to secure statistically valid information for computing the employment tax gap, and to determine compliance characteristics so the IRS can focus on the most noncompliant employment tax areas.
 
Records pertaining to employment tax returns and issues will be subject to review during these examinations, the IRS noted, and employers should have all of their records available to expedite these examinations.
 
Now, more than ever, small business owners need to engage a professional payroll/PEO company for their tax filing compliance. Small business owners outside of compliance will be subject to potentially large back taxes, severe penalties and interest charges.
 
Wishing You Many Happy Returns,
 Wayne
  
 
Wayne T. Essex Ph.D.
Essex & Associates, Inc.
Tax, Accounting, HR, Payroll
7501 Paragon Road
><> 937.432.1040 <><
 
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