Put Your Child on the Payroll This Summer, are you it self-employed business owner and the parent of a teenager? Giving your child a job this summer could be a smart tax move. Deduction for you. The net income you earn as a self-employed person ill 2011 will he taxed at rates as high as […]
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A Window of Opportunity for Family Business Owners, as a small business owner, you may have high hopes that your kids and grandkids will keep your company going well into the future. Along with those hopes may come worries that a substantial estate-tax burden could make it difficult, if not impossible, for the next generation
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Generous Write-Offs Available For Equipment Purchases, businesses have additional incentive to purchase machinery, equipment, and various other assets this year. In a bid to increase business spending on capital investment, Congress has added new incentives as part of the 2010 Tax Relief Act. Equipment Purchases 100% Write-off The new law allows businesses to write off
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The More Things Change, for much of last year, the possibility of higher tax rates going into effect in 2011 loomed large in taxpayers\’ planning. The 20I0 Tax Relief Act\’s extension of the Bush-era tax cuts and certain other taxpayer friendly rules provides a temporary reprieve. Individual Tax Rates Except for inflation adjustments to the
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Energy Credit Revived, improving a home to make it more energy efficient can cut utility bills and conserve energy. It also can result in tax savings. Basic Limits The 2010 Tax Relief Act has modified and extended for one year (through 2011) the tax credit available to homeowners for installing cee:tain emergencies property in their
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It\’s Back – Repeal of the Federal Estate Tax, as widely anticipated, the \”repeal\” of the federal estate tax has proven to be short-lived. And there are some new wrinkles in our transfer-tax laws, courtesy of the 2010 Tax Relief Act. Here\’s what you need to know. 2010 Estates Tax Rates Taxpayers inheriting assets from individuals
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