by mariettacp | Jan 21, 2011 | Money Tips, Tax Planning, Tax Tips
The Tax Relief Act contains a trove of other tax breaks for businesses and individuals. One area of the tax-cut rules to be extended regards the Alternative Minimum Tax (AMT). The AMT exemption amounts for 2010 will be $47,450 for individuals and $72,450 for married...
by mariettacp | Jan 19, 2011 | Money Tips, Tax Planning, Tax Tips
On December 9, Senate Majority Leader Harry Reid (D-NV) introduced H.R. 4853, the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (the Tax Relief Act). The Tax Relief Act contains a two-year extension of the Bush-era tax cuts that was...
by mariettacp | Jan 17, 2011 | Money Tips, Tax Planning, Tax Tips
The Tax Relief Act contains a trove of other tax breaks for businesses and individuals. One area of the tax-cut rules to be extended are those under JGTRRA. The bill defers for two years the sunset rule of Sec. 303 of the Jobs and Growth Tax Relief Reconciliation Act...
by mariettacp | Jan 14, 2011 | Money Tips, Tax Planning, Tax Tips
Congress passed the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 on December 16, 2010 and President Barack Obama signed it into law on December 17, 2010. This sweeping tax package includes, among many other items, an extension of...
by mariettacp | Jan 12, 2011 | Accounting News, Money Tips, Tax Planning, Tax Preparation, Tax Tips
You may be able to reduce your tax liability through smart debt management planning. Consider whether to defer cancellation of debt (COD) income from the reacquisition of an applicable debt instrument in 2010. The business can elect to have the cancelled COD income...
