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ˇWelcome, Bienvenidos!
Strickler & Prieto LLP is a leading accounting and consulting
firm based in El Paso, Texas.Our client solutions approach has fueled
the Firm's rapid growth into one of the most important professional
service organizations on the U.S./Mexico border. Our solutions
approach, combined with a commitment to technical knowledge, client
satisfaction, and continued personal growth in a dynamic environment
has assisted us to attract and retain some of the most highly educated,
experienced and sophisticated accounting professionals in the
Southwestern United States. We serve a wide range of clients, including
developing and middle market clients, governmental and not-for-profit
entities, as well as established Fortune 500 multinational
corporations. Our client base includes business enterprises
headquartered in Europe, Asia and Latin America. Through our unique
strategic alliances, we may assist clients with professional services
in several countries around the globe.
How Will the Economic Stimulus Package Affect You?
On February 17, President Obama signed into law the “American Recovery and Reinvestment Act of 2009 ” (the 2009 Economic Stimulus Act). This new legislation was passed to aid our ailing economy and includes a wide variety of tax provisions, many of which will affect both individuals and small businesses. Included below are highlights of the more prominent provisions.
New for 2008 and 2009, taxpayers who do not itemize can add to their standard
deduction the cost of their real property taxes, not to exceed $500 ($1,000 for
joint filing taxpayers).
Those who stand to benefit from this provision are taxpayers who pay property
taxes but whose itemized deductions are less than the standard deduction. This
most frequently will include retired taxpayers who have paid off their home
loans and do not have any mortgage interest to deduct. Note that to the extent
any real estate taxes are related to business property, such as a home office,
and deducted elsewhere on the tax return, they cannot be included in the added
standard deduction.
Over the past several months, Congress has been enacting legislation to
stabilize the economy. At the urging of the incoming administration, Congress is
working on yet another stimulus plan. As they make temporary changes to the tax
code and extend expiring provisions, and with the phase-in phase-out provisions
of earlier legislation, it becomes more difficult to keep track of what does and
does not apply for the 2009 year.
With a Global Recession upon our doorsteps, we need to
secure our own finances that will make our lives and our family's as straight
forward as possible. If you have credit
debt you should really work to reduce debt quickly so you have the confidence
to reach your goals and live your life.
Beginning in 2007, a married couple that owns a joint business venture in which
they both participate can elect to file two self-employed business schedules
(Schedule C or Schedule F) on their personal income tax return, dividing the
income and expenses instead of filing a partnership return. However, the IRS has
made it clear that this special provision does not apply to state law entities,
such as general or limited partnerships or limited liability companies. If you
are interested in pursuing this option for 2008 and currently have employees,
are also required to file other types of tax returns, or simply have questions
about this option, please give this office a call.
On February 17, President Obama signed into law the “
New for 2008 and 2009, taxpayers who do not itemize can add to their standard
deduction the cost of their real property taxes, not to exceed $500 ($1,000 for
joint filing taxpayers). 
(2) 
Over the past several months, Congress has been enacting legislation to
stabilize the economy. At the urging of the incoming administration, Congress is
working on yet another stimulus plan. As they make temporary changes to the tax
code and extend expiring provisions, and with the phase-in phase-out provisions
of earlier legislation, it becomes more difficult to keep track of what does and
does not apply for the 2009 year.
With a Global Recession upon our doorsteps, we need to
secure our own finances that will make our lives and our family's as straight
forward as possible. If you have credit
debt you should really work to reduce debt quickly so you have the confidence
to reach your goals and live your life. 
