by mariettacp | Feb 4, 2011 | Money Tips, Tax Planning, Tax Tips
On December 6, the Obama Administration and the Republicans arrived at an agreement which included, a 2-year extension of the Bush-era tax cuts for all taxpayers. Based on inflation data, RIA has calculated the tax rate schedules for individuals that would apply for...
by mariettacp | Jan 28, 2011 | Money Tips, Tax Planning, Tax Tips
The Tax Relief Act contains a trove of tax breaks for businesses. The bill OKs the following major new incentives for businesses to invest in machinery and equipment: 1. A 100% bonus first-year depreciation allowance for property acquired and placed in service after...
by mariettacp | Jan 26, 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 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 | Dec 15, 2010 | Money Tips, Payroll, Tax Planning, Tax Tips
Employers are exempted from paying the employer 6.2% share of Social Security employment taxes on wages paid in 2010 to newly hired qualified individuals. These are workers who: (1) begin employment with the employer after Feb. 3, 2010 and before Jan. 1, 2011, (2)...