A Big Year for Tax Changes
Jan
6
Written by:
1/6/2011 12:14 PM
As business owner, it's important to stay informed of changes that may affect your business, especially when it comes to changes in the tax laws. The recently enacted "Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010" is a comprehensive tax package that includes, among various other changes, an extension of the Bush-era tax cuts for two years, estate tax relief, a two-year "patch" of the alternative minimum tax (AMT), and a including a two-percentage-point reduction in the Social Security payroll tax for workers. The bill also creates major new incentives for business and consumer spending in 2011, such as new incentives to invest in machinery and equipment, and a host of retroactively revived and extended tax breaks for individuals and businesses.
To get a more complete picture of the 2010 Tax Relief Act check out the reader-friendly overview that Armao, Costa & Ricciardi, CPA’s, put together on their website at http://acrcpa.com/pdf/2010%20Tax%20Relief%20Act%20Tax%20Provisions%20Overview.pdf. Make sure to speak to your CPA to ensure you are taking full advantage of all that these changes have to offer you and your business.
1 comment(s) so far...
Re: A Big Year for Tax Changes
Rob, once again your blog has provided me with timely and accurate information. Thanks for taking the time to "Pay It Forward" to so many business owners.!
By Josephine Geraci on
1/6/2011 2:10 PM
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