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…Read more
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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…Read more
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…Read more
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…Read more
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