Phone: 845-566-0391
Email: info@petromccrum.com
1662 Route 300, Suite 126, Newburgh, NY 12550
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Tips of the Month - October, 2006
Tax Tip:
Energy Credits
For years 2006 & 2007 the IRS will be allowing a credit of up to $500.00 for energy improvements to your principal residence. The improvements include: exterior windows and doors, metal roof, electric heat pump, central air conditioning, water heater, boiler furnace. All of the items should come with a certification from the manufacturer or have an Energy Star Label. Check the manufacturers online website if you don’t receive any paperwork with your purchase.
QuickBooks Tip:
Periodically you should review your payroll item set-up. Make sure that all wage items are being taxed correctly. Verify that all deductions are being taxed or not taxed; as appropriate. Confirm that all entries are being posted to the appropriate general ledger accounts.
