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STRATEGIC ISSUES...ONLINE 
For week of January 1, 2007, Issue #289
 
Featured Articles:
1.  Last-Minute Tax Break from Congress
2.  Tech Tip Weekly:  How to Select Multiple Files Using the CTRL Key
3.  Compliance Calendar
 
 
If you would like to have further information on any of these articles, let us know.  We would appreciate receiving your comments and/or suggestions, anytime!
acarroll@pmcpa.com
 
1.  Last-Minute Tax Break from Congress
 
In the spirit of the holiday season, Congress has come up with a gift package for taxpayers.  They've just renewed a number of tax breaks that had expired at the end of last year.  The renewal is effective for 2006 and 2007.
 
The itemized deduction for state and local sales tax has been reinstated.  This is a boon for taxpayers in states without a state income tax.  If you pay both state sales and income taxes, you can deduct whichever is higher.
 
Middle-income taxpayers can also claim a deduction for up to $4,000 of qualifying higher education expenses for 2006 and 2007.  This is an above-the-line deduction so you don't need to itemize to claim it.  However, income limits apply.
 
Teachers can claim a deduction for classroom supplies that they pay for out of their own pocket.  It's also an above-the-line deduction, with a limit of $250.
 
Congress also extended a number of business tax credits and deductions.  These include the research expenditure credit and several employment credits.
 
Please contact us if you have questions about how these recent changes might affect you.
 
2. Tech Tip Weekly:  How to Select Multiple Files Using the CTRL Key
 
Let's say you open a file on your computer and you want to copy 10 files to another area, but there are 100 files in that one folder.  What do you do?  You can't use select all, because you don't want to move all 100 files.  This is what you do, using the friendly little ctrl key you can select multiple files or deselect files.  This is a very simple process.  Here's what you do:
  • Click on the first file you want to move
  • Go to the second file you want to select before clicking this file, hold down the ctrl key and then click.  You'll notice that both files are now selected
  • Repeat this process for as many files as you want to select at once

It's just that simple. If you accidentally select a file that you don't want included, just go back to it and hit it again while holding the ctrl button down.  This way you deselect that one file.  This little tip comes in handy when you're trying to organize you computer.  It also works in programs like Photoshop, say you want to open a bunch of pictures at once, just do the above and hit okay.  Photoshop will open all the photos you selected.  This tip also works on web pages with forms that allow you to pick multiple options.  So that's how the Ctrl key can help you move around files.

3.  Compliance Calendar
 
January 5
-Deposit Payroll tax for payments on Jan. 1-2 if the semiweekly deposit rule applies.
 
January 10
-Deposit Payroll tax for payments on Jan. 3-5 if the semiweekly deposit rule applies.
 
 
 
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