News from John T. Vetscher, CPA & Thomas R. Vetscher, CPA

Visit www.vetscher-cpas.com and find out how we can help your and your businesses financial needs.

July 2007

Issue: 1

Welcome to the Vetscher Accounting and Tax Service Monthly Newsletter

Dear Thomas,

We are excited to announce that we starting a free monthly e-mail newsletter to be sent out to all of our existing and potential clients. This newsletter will provide all kinds of information regarding personal and business taxes, including tax news, tax law changes, upcoming tax deadlines, tax planning ideas, QuickBooks Tips and Tricks, and several other topics that we feel will be relevant to individuals and small businesses. We hope that you will read the newsletter and find the articles useful and informative. We choose the articles that we feel will benefit you as an individual taxpayer and small business owner. Feel free to forward this newsletter along to friends and colleagues that may benefit from the information provided. If you would like to opt-out of this newsletter, you can do so at anytime by clicking on the link at the bottom of the email. If you have any questions about the articles, please respond to this email or call us at 651-690-2250. We hope you enjoy the newsletter and look forward to seeing you again in the future!

All About LLCs - The Plain Truth... What They Can Do -- and Can't Do

Limited liability companies (LLCs) are a popular form of business organization. They have been referred to as hybrids because they offer the same personal liability protection as corporations but with the pass-through tax treatment of partnerships. First endorsed by the IRS 20 years ago, they remain the new kid on the entity block, with several issues still unresolved and many aspects misperceived. The plain truth about LLCs...

Keeping Good Records

You can avoid headaches at tax time by keeping track of your receipts and other records throughout the year. Good record-keeping will help you remember the various transactions you made during the year, which in turn may make filing your return a less taxing experience.

You may use a car for business whether you are a sole proprietor, company owner, or even an employee. If you are a business owner, the same may be true for your key executives, salespeople, and perhaps other employees.

Driving for business can be very expensive, especially now that gas prices are up. Savvy use of the Tax Code can hold down those costs.

In This Issue

All About LLC's - The Plain Truth...What They Can Do - And Can't Do

Keeping Good Records

How to Get the Most Tax Mileage from Your Company Car

New Tax Law Provides Breaks for Small Businesses

Upcoming Tax Deadlines

New Tax Law Provides Breaks for Small Business

The recent Small Business and Work Opportunity Tax Act of 2007 (HR 2206) creates breaks for small business - but proposes to pay for them with "revenue raisers" that mean new crackdowns on individual tax payers and tax return preparers. Our tax specialists dissect the changes and help you communicate this first tax law of 2007 - by sharing a sample client letter you can adapt to your client base. Here is their take in four short parts.

Upcoming Tax Deadlines

July 15th - June payroll depoits are due for monthly depositors

July 31st - 2nd Quarter payroll reports are due

2007 Tax Calendar

Please let us know if there is anything we can do for you!!

Thomas R. Vetscher, CPA
John T. Vetscher, CPA

651-690-2250