Category Archives: Taxes
New Reduced Payroll Tax for Employees Can Be a Headache for Employers
As part of the new tax cuts for 2011, the Social Security (OASDI) payroll tax withholding for employees has been cut by a full 2 percentage points from 6.2 percent to 4.2 percent of wages paid. This late action has created problems for both th…
Congress Extends Tax Breaks
Congress, in an eleventh-hour compromise agreement worked out with the Obama Administration and the GOP Leadership, has extended many of the Bush era tax reductions. The following is an overview of the more frequently encountered tax changes t…
Federal Estate Tax Retroactively Reinstated
The Bush era tax cuts slowly phased out the federal estate tax and abolished it altogether for decedents dying in 2010, and replaced it with a rather complicated modified carryover basis regime. Just about everyone assumed Congress would reins…
Tax-Free IRA to Charity Distributions
The provision that permits taxpayers age 70½ and over to make direct distributions (up to $100,000 per year) from their Traditional or Roth IRA account to a charity has been reinstated for 2010 and 2011. The distribution is tax-free, bu…
Did Congress Save You From the AMT in 2010?
Alternative Minimum Tax (AMT) – For several years, Congress has failed to permanently resolve the nagging issue of the AMT, and instead, each year has applied a one-year patch without which an estimated 28 million taxpayers would be hit with t…
Tax-Free IRA to Charity Distributions Reinstated
The provision that permits taxpayers age 70½ and over to make direct distributions (up to $100,000 per year) from their Traditional or Roth IRA account to a charity has been reinstated for 2010 and 2011. The distribution is tax-free, bu…
Is The Tax Stalemate Finally Broken?
In a news conference held December 7, and carried live by most major broadcast networks, President Obama discussed the tax agreement he had worked out with the GOP’s Congressional leaders the previous day. Although there is some discontent …
2010 TAX DEDUCTION FINDER & PROBLEM SOLVER
Our Tax Organizer is designed to help you maximize your deductions and minimize your problems in preparing and filing your tax return. The organizer is revised annually to be compatible with the ever-changing tax laws. The organizer currently …
2010 TAX DEDUCTION FINDER & PROBLEM SOLVER
Our Tax Organizer is designed to help you maximize your deductions and minimize your problems in preparing and filing your tax return. The organizer is revised annually to be compatible with the ever-changing tax laws. The organizer currently …
2010 TAX DEDUCTION FINDER & PROBLEM SOLVER
Our Tax Organizer is designed to help you maximize your deductions and minimize your problems in preparing and filing your tax return. The organizer is revised annually to be compatible with the ever-changing tax laws. The organizer currently …
