(PRWEB) August 20, 2007
Now is a great time to review the tax changes that may impact filing a 2007 return. Savvy consumers can do just by going back to school this fall at Liberty Tax Service. The companyÂs tax school is an opportunity for anyone interested to increase their tax knowledge, examine their tax filing situation, and gain valuable new job skills. Enrollment is underway for fall basic (ten-week) (eight-week) (other) tax courses that will start (Date).
Congress has passed and the President has signed the Small Business and Work Opportunity Tax Act of 2007 which provides tax incentives for small businesses. The act changes the way the IRS will view a joint venture operated by a husband and wife who file a joint return for the tax year. They can elect not to be treated as a partnership for tax purposes. All items of income, gain, loss, deduction, and credit should be divided between the spouses according to their respective interests in the business. Each spouse takes into account his or her respective share of these items as if they were attributable to a trade or business conducted by the spouse as a sole proprietor.
There are more additions to the Âkiddie tax.Â The Âkiddie taxÂ will apply to all children under the age of 19 (previously under the age of 18) and children under 24 who are full time students. However, if the earned income of any child over age 17 exceeds half of his or her support, then the Âkiddie taxÂ will not apply. For this purpose, scholarships are not counted in the support test.
These changes and more will be covered during the tax school. Students do not have to have any previous tax experience to enroll, and can take advantage of flexible morning or evening class schedules. The only charge is a minimal book and supply fee. The curriculum offers practical application of the tax code to preparing returns on paper and on the computer.
ÂOur goal is to empower our students with an overview of individual income tax preparation and all schedules, credits, and deductions. Our course can enlighten students about deductions they may be overlooking. Or situations they may have encountered this year, like the tax implications of buying their first home or having a child,Â said (Name), (Title) of Liberty Tax Service.
To enroll or find out more about LibertyÂs fall school schools, call (Phone) or visit http://www.libertytax.com.
About Liberty Tax Service:
Founded in 1997, Liberty Tax Service is the fastest growing retail tax preparation company in the industryÂs history. Founder and CEO John T. Hewitt has 38 years of tax industry experience, the most of any CEO in the tax preparation business. Hewitt is also the founder of Jackson Hewitt Tax Service (NYSE: JTX).
Liberty Tax Service (http://www.libertytax.com) operates 2,400 offices throughout the United States and Canada, and has prepared over 5,000,000 individual income tax returns. The company focuses on computerized income tax preparation, electronic filing and refund loans. Emphasis on customer service including audit assistance, a money back guarantee and free tax return checking are just a few of the above and beyond features offered by Liberty Tax Service.