KILLER IRS Tax Relief For Small Business Owners For 2009 Tax Year

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) August 13, 2010 -- If you are a small business owner who earns less than $500,000 in 2008, and half of your adjusted gross income is from the business you own, you may be eligible for an estimated tax payment relief. In addition, your business must have less than 500 workers.

The Estimated Tax Payments Are Reduced For 2009

The American Recovery and Reinvestment Act of 2009 reduced the estimated tax payments a small business owner must pay. Before this, the estimated tax payments were equal to 100% or more of the tax liability from the prior tax year.

For 2009, your estimated tax payments are equal to 90% percent of your tax liability for 2008 or 2009. Normally, you have to pay 110% of your previous year’s taxes in estimated taxes.

More information can be found online at http://www.taxproblem.org/tax-changes-blog/year-2009/tax-relief-for-small-business-owners/

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