Tax rate changes brought on by the Jobs and Growth Tax Relief Reconciliation Act (2003 Tax Act) have caused fiscal excitement, as well as some confusion, for investors. The confusion lies in applying the new low rates to dividends. Taxpayers and their advisors are finding that the tax break on dividends isn't as simple as it seems. Only "qualified" dividends are eligible for the reduced rate.

Entertaining business clients and employees at sports events or arts performances can be good for
the bottom line; and tax deductible, too. Whether to maintain contacts with existing customers, woo new business,
or reward your employees; footing the bill at the ball game or hosting an evening at the theater can go a long way
to generate positive returns.

The bartering system is an ancient form of commerce that still thrives today.
From livestock in exchange for grain, to legal advice in exchange for accounting services,
money-less trades are still common. However, a major difference between bartering in antiquity
versus modern American times is that the IRS wants in on the deal. Just because money does not
change hands, does not mean that a traded good or service loses its value, or its taxability.
And, unfortunately, the IRS won't accept a pig or a mule for its payment, making cash a necessary
part of any barter arrangement when it's time to pay tax on it.

As an individual or business, it is your responsibility to be aware of and meet your tax filing/reporting deadlines. This calendar summarizes important tax reporting and filing dates for individuals, businesses and other taxpayers for the month of March 2004.