Bailey, Carr & Co., CPAs, we know that an informed client is our best customer. And the Internet is a great education resource, with endless amounts of information just a click or two away. But sometimes it's nice to have help sorting through the virtual noise and clutter, so we've selected a few helpful articles for you to view. Check back often, for all the latest information on ways to manage your business and personal financial needs more effectively. Just click on the article titles below to view the complete text. Qualified Plan Contributions The Department of Labor announced a ruling that determines the timeliness of employee deposits for pension plan contributions. Red Flags Rule  The Red Flags Rule sets out how certain businesses and organizations must develop, implement, and administer their Identity Theft Prevention Programs.  Your Program must include four basic elements, which together create a framework to address the threat of identify theft.  Hiring_Unpaid_Interns New York State Department of Labor has specific rules defining unpaid internships that you need to understand before hiring an intern.

American Opportunity Credit For tax years beginning in 2009 and 2010, the Stimulus Act includes taxpayer-friendly modifications to the Hope Scholarship higher education tax credit (Hope Credit).   Retaining Tax Information and Records Retaining and storing your income tax information and records is an important final step of your tax filing responsibility. This article contains information on the rules for keeping your tax records.   Traditional to Roth IRA Conversions Four years ago, the Tax Increase Prevention and Reconciliation Act of 2005 (TIPRA) relaxed some restrictive rules preventing many taxpayers from converting a traditional IRA to a Roth IRA, but this favorable change was not effective until 2010.