With the recent news of the stimulus package and tax credits, one of the greatest tax advantages for today's small business owner is IRS Code Section 105. Simply put, this tax ruling allows small business owners to deduct up to 100% of their medical expenses as a business expense. With the ever-rising costs of healthcare, this tax break can mean the difference of thousands of dollars over the course of a year.

Jimmy Rodefer, CEO of Rodefer Moss & Co, PLLC and Laroy W. Wolff, Managing Member of RM Wolff, LLC, a Rodefer Moss affiliate, were both named to Business Tennessee magazine's Accounting's Finest list for 2009.

The fifty names on the list represent practicing accountants throughout the state, as well as individuals who are not accountants, but whose leadership in the industry has had a profound effect.

COBRA Revisions - American Recovery & Reinvestment Act of 2009

Last month, President Barack Obama signed the American Recovery & Reinvestment Act of 2009, which included a significant impact to COBRA continuation rules.

The Consolidated Omnibus Budget Reconciliation Act (COBRA) gives employees who lose their health benefits the right to choose to continue group health benefits provided by their group health plan for limited periods of time under certain circumstances, such as voluntary or involuntary job loss.

Last week, Congress passed and the President signed the American Recovery and Reinvestment Act of 2009. Click the attachment below to read the letter from BDO Seidman, in its entirety:

The BORiNG Mortgage and Rate Update
by Brad Boring, Mortgage Investors Group
as of Friday, February 20, 2009

PERMADOC is a customer-focused Document Imaging and storage company that offers innovative Document Imaging, Enterprise Content Management (ECM) and Business Process Management (BPM) products. To learn more about PERMADOC, please open the newsletter attachment below:

As expected, the last 60 days of 2008 revealed one dismal economic report after another in reflection of the stunning crash of the stock markets in early October and the breakdown in the credit markets. If there's a positive to derive from all the bad news (and this is definitely a reach), it is that the negative reaction by consumers and businesses was swift and decisive, which may hasten the beginning of recovery. But in the meantime, the national economy and construction markets will experience contraction.

Pat Summitt, head coach of the national champion Lady Vols basketball team, will be the featured guest at a first-of-its-kind United Way fundraiser set for 11:15am - 1pm, Wednesday, November 5, at the Conference Center at Water's Edge in west Knoxville.

Sponsored by the Rodefer Moss accounting firm, the fundraiser includes:

Rodefer Moss & Co, PLLC is merging with the Indiana and Kentucky accounting firm of Melhiser Endres Tucker, CPAs, P.C., creating a company with seven offices in three states.

The merged firm will operate under the Rodefer Moss name. The transition into a single company is effective September 1, 2008.

Rodefer Moss has Tennessee offices in Knoxville, Nashville, Greeneville and Kingsport.

Melhiser Endres Tucker has two Indiana locations, in New Albany and Corydon, and an office in Louisville, Kentucky.

Professional economists (ones that are paid to forecast rather than profess) are faced with putting their reputations on the line each year by foretelling the future. Forecasting is a matter of assessing what you know, and don’t know about the economy, and then taking a flyer at what you don’t know that you don’t know.