For the accountants:
1. If I decide to incorporate to reduce 2009 taxes, when do I have to do it? Do I have to do it before Dec 31, 2009? Or can I wait and do it the first part of next year?
2. This new $6,500 home credit bill that extends the home credit to non-first-time buyers...what form do you use to do it? How much trouble would you be in and how likely would you get caught if you ended up purchasing a property, calling it your primary residence, taking the credit, and then never actually move in? Is the credit an actual credit like the child tax credit? As in if the child tax credit already puts my tax into negative numbers making it so the gov pays me to go to work, would this credit add to what gov will pay me, or does it only count against an actual tax bill?
1. If I decide to incorporate to reduce 2009 taxes, when do I have to do it? Do I have to do it before Dec 31, 2009? Or can I wait and do it the first part of next year?
2. This new $6,500 home credit bill that extends the home credit to non-first-time buyers...what form do you use to do it? How much trouble would you be in and how likely would you get caught if you ended up purchasing a property, calling it your primary residence, taking the credit, and then never actually move in? Is the credit an actual credit like the child tax credit? As in if the child tax credit already puts my tax into negative numbers making it so the gov pays me to go to work, would this credit add to what gov will pay me, or does it only count against an actual tax bill?