Tag Archives: Tax Relief Act of 2010

Renewed Interest in R&D Credit for 2010

We have written a number of times about the advantages of the Research & Development (R&D) Credit.  It is a complicated area regarding what activities qualify and how you get benefit.  Historically, I have not been overly excited about this … Continue reading

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Last Chance to Make Adjustments for Payroll Tax Holiday

As we all know, the 2010 Tax Relief Act reduced the amount of social security withholding for employees by 2%.  Since, Congress acted so late, a number of businesses did not implement the change to their employees withholding.  The IRS … Continue reading

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100% Bonus Depreciation – More Planning Opportunities

With tax season in full swing, we continue to focus on the many planning opportunities provided to us by the 100% bonus depreciation rules (see prior posts). Businesses interested in maximizing their first-year write-offs have a powerful incentive to place … Continue reading

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Big Tax Savings for Qualified Small Business Stock

You’re not going to believe this, but if you acquire Qualified Small Business Stock (“QSBS”) between September 30, 2010 and December 31, 2011 you can exclude up to $10 million in capital gains when you sell it.  Do I have … Continue reading

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IRS Ready for E-Files

After a long wait, the IRS is finally ready to start processing individual e-file returns.  Yesterday (February 14th) the IRS started accepting most individual e-files.

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100% Bonus Depreciation for Heavy SUVs

I am currently in the market for a new business vehicle.  I was thinking about down sizing from my Ford Pick Up.  You know the type, the one with the six foot bed that is eligible for expensing under Section 179.  … Continue reading

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What if a loved one died in 2010?

As we all know by now, Congress let the estate tax law expire in 2010, then reinstated it starting in 2011. Will what if a loved one died in 2010? What do you do? As usual, Congress has made this … Continue reading

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Higher Gift Limits in 2011 and 2012

Every person can make a tax free gift to any other person of $13,000 per calendar year. So, you can give your child $13,000 this year and their spouse if they are married the same amount.  If you are married … Continue reading

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“Step Up In Basis” Back for Estates

Until Congress, let the estate tax law expire in 2010, there was a concept of law known as the “step up in basis”.  This basically meant that when you inherited property you received it at the fair market value at … Continue reading

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New Estate Portability Feature for Married Couples

Prior to the 2010 Tax Relief Act, the estate tax exemption was on a per person basis. For example, when the exemption was $1 million if we had one spouse who had $500k in assets and the other spouse had … Continue reading

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