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Fix tax-filing mistakes with form l040X (Amended US Individual Income Tax Return]. The simple form allows you to correct a mistake going back up to three tax years. It asks how much adjusted gross income you reported before ... what you are now reporting... and how much the number has changed. 

Welcome to Koifman CPA and Associates

At Koifman, CPA & Associates, we believe in individualized, detailed and comprehensive relationship between you, the client, and us, your accounting and tax professionals. We pay attention to details and your personal needs to ensure you unsurpassed professional service and guidance.

Points of Interest


 • Speedier depreciationMost purchases of new business equipment can be deducted fully in 2011 rather than depreciated over several years. There are no limits on the amount that you can deduct. This will make equipment purchases more attractive this year for many businesses. This speeded-up depreciation is set at 100% only for equipment placed in service from September 9, 2010, through December 31, 2011. For equipment placed in service earlier in 2010, you can use 50% bonus depreciation, and the new law calls for 50% bonus depreciation in 2012.

 • Research and developmentThe research tax credit, which expired at the end of 2010has been extended to 2011 and made retroactive to 2010. This tax credit helps companies offset the costs involved in designing, developing and/or improving products, processes, techniques, formulas and software. Typically, most of the tax credit's benefits are used to pay the salaries of people involved in research and development.



The non pass through corporation pay corporate income tax from net income.

 US firms pay the second highest taxes among major industrial nations?

The top combined rate imposed under the US federal tax code and by states is 39%. After deductions and exclusions, theaverage "effective" corporate rate is 22.5%. That is still higher than the corporate rate in any industrialized nations, except for Japan, where the rate is 33.5%.