15 Mar IRS Releases 2010 Data Book
The IRS has released the 2010 Data Book listing information about returns and IRS Activities.IRS Releases 2010 Data Booksee: http://www.TaxEsq.com...
Taxesq - IRS Audit and Business Tax Estate Attorney Cherry Hill NJ
29 Jan Little Leagues Must file 990 with IRS
All non profit organizations, including local Little Leagues, must file annually with the IRS. If the 990 is not filed, the Local Little League will lose its tax exempt status. See Noticesee: http://www.TaxEsq.com...
24 Jan Congress Finally Addressing Tax Reform
Congress refused for over a decade to make the Estate and Gift Tax law changes. They only passed a last-minute 2 year extension in December. The Internal Revenue Code was last overhauled in 1986 in the Reagan era attempt toward simplification. Since then, more than...
05 Jan Spouses can combine $10 Mil Estate Tax Exemption
Starting in 2011 widows and widowers can add to their own estate tax exemption the unused exemption of the spouse who died most recently. This provision, plus an increase in the exemption amount to $5 million per person, enables married couples together to transfer as...
05 Jan Brooklyn Bar Owner Jailed for not Paying $1.3M in Sales Taxes
Brooklyn Bar Owner Jailed for not Paying $1.3M in Sales TaxesOn December 30, 2010 The principal owner of The Kettle Black, a popular sports bar and restaurant in the Bay Ridge section of Brooklyn, has pleaded guilty to stealing more than $1.3 million in city...
22 Dec Qualified Improvements
15-Year Recovery Period for Qualified ImprovementsThe Tax Bill signed December 17, 2010 extends the 15-year recovery period through 2010 and 2011 for:Qualified leasehold improvementsQualified restaurant improvements, andQualified retail improvements.The 15-year recovery period previously expired at the end of 2009. The extension applies to 2010 as...
22 Dec Expense Limits Increased to $125k
Code Sec. 179 Expensing LimitsInternal Revenue Code Sect. 179 expensing limits were raised to $125,000 with a $500,000 investment limit for 2012. The 2010 Small Business Jobs Act, which was signed in September, raised the expensing limits to $500,000 with a $2...
22 Dec Bonus Depreciation -100%
Bonus Depreciation The Tax Bill signed December 17, 2010 provides 100% First Year Bonus Depreciation created for qualified improvements made after September 8 2010 and before January 1, 2012. Bonus depreciation reverts back to 50 Percent for qualified 2012 improvements.see: http://www.TaxEsq.com...
20 Dec IRS issues new withholding tables
the Internal Revenue Service has issued new withholding tables based upon the changes in tax law reducing withholding for 2011.Even though most employers use payroll services, it is a good idea to print out and read the chart so employees can understand the changes.see: http://www.TaxEsq.com...
19 Dec 2010 Estate and Gift Tax Changes
Here is a detailed Explanation of the Estate and Gift Tax Changes:2010 Estate Tax *Basic exclusion amount: $5,000,000 Formerly called applicable exclusion amount Unified credit: ...