Dear Friends,

This firm is committed to providing quality service to its clients. This E-Newsletter is one means of providing that quality service. 

We hope you enjoy this E-Newsletter issue, with information on several recent tax changes for 2009 and 2010, information on the home buyers credit, end of year tax planning, long term care, updates on IRA & retirement accounts, Social Security, tax cases and other interesting news.

We feel all our clients and acquaintances could benefit from this information. Feel free to pass this E-Newsletter along to others.  If you received this E-Newsletter from a friend and would like to subscribe, please visit the new website version of WHC-Law.com and enter your email address in the subscription space provided.

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Please let me know if there is an area of interest that you want covered in future newsletters.

Sincerely,

Bill Copperthwaite

NEWLY EXTENDED AND LIBERALIZED HOMEBUYER TAX CREDIT RULES
On November 6, the President signed into law H.R. 3548, the ''Worker, Homeownership, and Business Assistance Act of 2009.'' The new law extends and generally liberalizes Internal Revenue Code Sec. 36 tax credit for first-time homebuyers, making it a much more flexible tax-saving tool.
(read more)

WORKER, HOMEOWNERSHIP AND BUSINESS ASSISTANCE ACT OF 2009 SIGNED INTO LAW
On November 6, 2009, President Obama signed into law H.R. 3548, the Worker, Homeownership, and Business Assistance Act of 2009. (read more)

NOL CARRYBACK RULES IN THE "WORKER, HOMEOWNERSHIP, AND BUSINESS ASSISTANCE ACT OF 2009"
Practitioners and businesses alike have hailed the NOL (Net Operating Loss) changes in the ''Worker, Homeownership, and Business Assistance Act of 2009'' (the Act), signed into law on Nov. 6 as P.L. 111-92. (read more)

TAX NEWS FROM THE END OF 2009
The following is a summary of the most important tax developments that have occurred in the past three months that may affect you, your family, your investments, and your livelihood.
(read more)

YEAR-END TAX RECOMMENDATION
Year-end tax planning could be especially productive.High-income-earners have factors to keep in mind when mapping out year-end plans. Many observers expect top tax rates on ordinary income to increase after 2010, making long-term deferral of income less appealing (read more)

RULING IN TAX-AUDITING CASE PUTS CORPORATIONS ON EDGE
A little-publicized ruling in a recent case involving the Internal Revenue Service is causing lawyers for big companies some sleepless nights.
(read more)

LESSONS FROM THE TAX COURT
A recent decision by the Court of Appeals for the District of Columbia finally ended one of the most topsy-turvy cases in recent years.  The court rejected a request to review the reversal of a tax-free award for nonphysical damages.  This tax treatment is only available for damages resulting from physical injuries (read more)

BUSINESS-RELATED LIFE INSURANCE: THINGS TO CONSIDER
Business owners must often choose the right ownership and payment structure for the business-related life insurance coverage. (read more)



ROTH IRAs AND THE COMING CHANGES OF 2010
In 2010, the rules with regard to Roth IRAs will be changing.  More taxpayers will be asking this question: Is it better to keep my traditional IRA, or should I convert to a Roth IRA? (read more)

ROLLOVERS FROM PENSION PLANS OR IRAs
Individuals changing jobs may have substantial pension balances that need to be dealt with.  Often, they want to defer taxes on the pension plan balances, and transfer the money to another plan over which they have more control. (read more)

UPDATE ON IRA
I am writing to tell you of an interesting new rollover opportunity that is coming up in a few months. After 2009, you will be able to roll over amounts in qualified employer sponsored retirement plan accounts, such as 401(k)s and profit sharing plans, and regular IRAs, into Roth IRAs, regardless of your adjusted gross income (AGI) (read more)

WHY LONG TERM CARE NOW - YOU NEED TO HAVE A PLAN
Long Term Care Coverage is actually an estate-planning tool as a way to protect your assets.
(read more)

GETTING STARTED WITH ESTATE PLANNING: THINGS TO CONSIDER
Those considering starting the estate planning process—perhaps by visiting an attorney about a will or trust—usually have one or more questions:
(read more)

RETIREMENT PLAN DOLLAR LIMITS ARE UNCHANGED FOR 2010
IRS has announced the 2010 cost-of-living adjustments (COLAs) for retirement plans.
(read more)

SOCIAL SECURITY RETIREMENT BENEFITS: THINGS TO CONSIDER
IFor most individuals, social security retirement benefits can play a key role in figuring the right age for retirement, and maximizing income during later years.
(read more)

SOCIAL SECURITY WAGE BASE REMAINS AT $106,800 FOR 2010
The Social Security Administration has announced that the wage base for computing the Social Security tax (OASDI) in 2010 remains unchanged at $106,800. (read more)

WILLIAM COPPERTHWAITE IN THE NEWS

• William Copperthwaite was reappointed as an Assistant Professor of Chestnut Hill College for Spring Term 2010. 
• On November 15, 2009, William Copperthwaite, Nick Jajko and Matt Burdalski attended the fundraiser for the Interfaith Housing Assistance Corporation which helps single parents with dependent children to avoid homelessness
  

STAFF UPDATE - MATTHEW BURDALSKI
Matthew Burdalski has joined the firm as a Law Clerk. Matt is currently in his third year at Widener University School of Law in Wilmington, DE and will graduate from the Law School in May. Matt is currently a member of Widener’s Environmental and Natural Resources Law Clinic where he is involved in complex civil litigation relating to various environmental issues with a wide range of clients throughout the Mid-Atlantic Region. Originally from Marlton New Jersey, Matt is a graduate of Holy Cross High School and West Chester University. He received his Bachelors of Sciences in Business from West Chester and was a four-year varsity letter winner as a quarterback for the West Chester University Football Team. Matt currently lives in West Chester with his girlfriend of four years, Lauren Enck, who is a teacher at Drexel Hill Middle School. Matt and Lauren are both Eagles and Phillies fans and in their spare time enjoy playing golf, skiing, and traveling whenever possible. Matt is looks forward to the opportunities and challenges offered by the firm and is eager to meet everyone. He can be reached on his cell phone at 609.417.9625 or on the office phone at 610.429.8127 or by email at LawClerk@WHC-Law.com.

Bill, Cindy and Nick welcome Matt to the firm.

SOUTHEASTERN PENNSYLVANIA 5K RUN
The Law Offices of William H. Copperthwaite Jr., L.L.C. is proud of the success of our law clerk, Nick Jajko, who came in 49th place (out of 150) in the Legal Aid of Southeastern Pennsylvania 5k Run.  Great Job Nick! (results)

WIDENER UNIVERSITY SCHOOL OF LAW'S ENVIRONMENTAL AND NATURAL RESOURCES CLINIC
Our Firm is pleased to announce that its Law Clerks, Matthew Burdalski and Nicholas Jajko, in connection with their work in the Widener University School of Law’s Environmental and Natural Resources Clinic, were administered an oath by Justice Randy J. Holland of the Delaware Supreme Court allowing them to appear before the Delaware courts, including the Delaware Environmental Appeals Board.  Matt and Nick were certified as legal interns under Pennsylvania Bar Admission Rules 321 and 322, similarly allowing participation in certain legal matters under attorney supervision.  The Firm is very proud of their commitment to public service and welcomes them in this step toward becoming members of the legal community.

Congratulations to Nick and Matt! See photo - Nick is in the second row, the sixth from the left. Matt is in the last row, the second from the right.

CLIENT REFERRAL FORM & RECOMMENDATION
One of the key sources of future business is the thoughtful recommendation received from a satisfied client. If you know of any family members, co-workers, neighbors or friends who could benefit from this firm’s legal services, please feel free to provide their information by downloading and completing the referral form.
Client Referral Form (PDF)

SPEAKING INFORMATION
If you are interested in having William Copperthwaite speak at an event, please contact the office at (610) 429-3800 or (856) 616-1188 or by email at WHC@WHC-Law.com


"Energy and persistence conquer all things."
- Benjamin Franklin

"When in doubt, tell the truth."
- Mark Twain

"Accomplish something every day of your life."
- Walter Annenberg

"Education is when you read the fine print. Experience is what you get if you don't."
- Pete Seeger