Ben Smith

Author's posts

01/06/10 – GUEST POST: Attorney Sandra Clapp discusses the Estate Tax

As surprising as it may sound, the federal estate tax and generation skipping transfer tax (GST) were actually repealed as of January 1, 2010.  Individual states may continue to have separate estate or inheritance tax structures, but Idaho presently has not enacted such laws.  The federal gift tax will continue in 2010 ($1,000,000 lifetime exemption …

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Tax breaks for homebuyers!

11/13/09  I have gotten several inquiries in the last few days about the main provisions of the new homebuyers’ credit included in the Worker, Homeownership and Business Assistance Act of 2009.  I decided to post the information here for all to see.  I do have an inquiry in to the IRS Stakeholder Liaison for a …

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Thank You Confirmation


Thank You For Confirming Your Information, You Will Now Receive: “Top 10 Tips For Business” This report is in PDF format. You can simply click on the file below and open it up in your browser. If you prefer to save it to your hard drive (which I recommend), simply click on the link below …

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Cash for Clunkers – is it a deal?

07/28/09 – The federal government wants your gas guzzler off the road, and is willing to pay for the privelege.  So all you have to do is make a deal and drive your old car into the dealership, driving away in a new, more fuel efficient car.  Provided, that is, your trade-in value is below …

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Starting a new business

A question came up in a discussion group to which I belong.  The question was, How to start a new business?  What are do’s and do not’s; which are emerging trends and markets; where will future lie; and what about sustainable demand?  My response:

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Small Busnesses ROCK!

 5/17/09 – It’s Small Business Week! To all of my small business clients and colleagues, I say, HORRAY!  You are the backbone and the frontlines in the business world and I salute you!  And your helpful news of the week comes directly from the IRS website, where they have posted a pile of reminders to help …

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How long should I keep records?

  03/29/09  Tax season is winding down – only 2 1/2 weeks left!  Several clients have asked me how long they should keep their tax and business records.  After completing 3 tax audits in the past 6 months, I think everyone should keep everything **wink**, but I know that’s not practical.  So I looked on the IRS …

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To 4 or not to 4

03/03/09  I had an interesting email conversation with an associate on LinkedIn, a student working an internship asking about joining a Big 4 firm.  I have permission to repeat the conversation here, though I have masked some information in the interest of privacy and to keep on topic, and I think my advice was useful …

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