Much discussion has been made of the refundable tax credit of up to $8,000 available to first time homebuyers. Unless extended by Congress, this credit will expire on November 30, 2009. The credit is calculated at the lesser of 10% of the purchase price or $8,000 and is fully refundable and not limited by the tax you owe. To qualify as a first time homebuyer, you must not have owned a home as your personal residence in the previous three years. You can receive the funds from this credit quicker by amending your 2008 income tax return. Please contact us with any questions.

As you approach the end of the 2009 calendar year, it is wise to take the time to assess your current financial situation and project where you would like to be at the end of 2010. Our firm can assist you in gauging projected income taxes due for 2009 and show you ways to ease this burden. Also, we can review your current financial plans in light of your investment and retirement funds and make suggestions to assist you in meeting your goals. Please contact us for an appointment so that we may assist you.

The October 15, 2009 deadline is quickly approaching for those individual taxpayers who extended the filing of their 2008 personal tax. It is important that you meet this deadline, as the penalties for late filing can be severe. If you cannot pay the tax due at the time of filing your return, installment arrangements with the Internal Revenue Service are available. If you have any questions, please contact us.

At the firm of Jim Davis, CPA, we are excited to welcome you to our new website which highlights the many ways we can serve you. Many people believe that all a CPA firm offers are tax preparation services and possibly the preparation of financial statements. As you browse this website, we hope that you will see that the firm of Jim Davis, CPA is a multi-faceted financial services firm that can meet most of your financial needs. Please review the various services sections, including Eldercare services to seniors, and the Resource area listing various web sites that provide information to individuals, businesses and nonprofits. 

Periodically, this section of the website will post information that we think may be of interest to you, including changes in the tax law or other articles of interest. This News section will be updated frequently, so please continue to visit our site for the latest updates. 

After viewing this website, please let us know of any comments or suggestions. We want this site to be a useful tool to you on your road to financial success. 

Finally, we would like to thank Jeremy Spinks of 3W Studios for his assistance and patience in the development of this site. His advice was invaluable.