by mariettacp | Mar 18, 2011 | Money Tips, Tax Planning, Tax Tips
The Tax Relief Act of 2010 retroactively reinstated a plethora of business tax breaks that expired at the end of 2009 and extended them through 2011. These tax breaks include: the research credit; the new markets tax credit; employer wage credit for activated...
by mariettacp | Mar 11, 2011 | Money Tips, Tax Planning, Tax Tips
The 2010 Tax Relief Act made many beneficial changes to the rules regarding estates and gifts. One such change regards the GST (generation-skipping transfer tax). The GST is an additional tax on gifts and bequests to grandchildren when their parents are still alive....
by mariettacp | Feb 25, 2011 | Money Tips, Tax Planning, Tax Tips
The 2010 Tax Relief Act made tax-saving changes to the estate and gift tax scheme that apply to estates transferring in 2011 and 2012. The bill set a lower rate and higher exemption for estates transferring in 2011 and 2012. The top rate was lowered to 35% and the...
by mariettacp | Feb 18, 2011 | Money Tips, Tax Planning, Tax Tips
The 2010 Tax Relief Act enacted many beneficial items in regard to estate and gift taxes. One in particular provides a tax saving choice. The Act allows estates of decedents who died in 2010 to choose between (1) estate tax (based on a $5 million exemption and 35%...
by mariettacp | Feb 11, 2011 | Money Tips, Tax Planning, Tax Tips
The 2010 Tax Relief Act made many beneficial changes to the estate and gift tax rules. One new rule make a particularly significant change to the gift tax. Years ago, the gift tax and the estate tax were unified, meaning they shared a single exemption and were...
