Tax Preparation News for 2011 Tax Returns

Tax Summary for Completing Your 2011 Tax Returns Bush tax cuts extended: The Bush tax cuts were scheduled to expire at the end of 2010 and are now extended through 2012. The 25%, 28%, 33% and 35% brackets will continue; the 15% rate for long-term capital gains and qualified dividends for those in the 25% […]

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Small Business Jobs Act – Tax Planning and Preparation

SBJA creates valuable tax-planning opportunities On Sept. 27, President Obama signed the Small Business Jobs Act of 2010 (SBJA), which created $30 billion in funding for small business loans. It also provided several tax incentives for businesses — both large and small. In light of these incentives, here are three actions you should consider in […]

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Home Offices – What You Need to Know

The home-office deduction: What you need to know Minding the details If you’re self-employed, the home-office deduction, plus all your other deductible business expenses, can’t exceed your business income for the year. Any excess of expenses over income, however, can be applied in future years against self-employment income. If you’re not self-employed but work from […]

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A Tax Accounting Nightmare?

Congress Delivers Tax Relief In The Nick of Time The central feature of the Tax Relief act is a two-year extension of the “Bush tax cuts.” The Tax Relief Act restores the federal estate tax, retroactive to the beginning of 2010, but reduces the top rate to 35% and increases the exemption to $5 million. The act also […]

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 It All Adds Up Individual tax planning  
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