Tax

Articles

• Changes Affecting Small Businesses

  Recent legislation includes changes that will affect small businesses in 2011. Here are some of the changes worth noting.

• Election Year Tax Talk: Deciphering the Terminology

  This year's election chatter is sure to include a healthy dose of tax talk. To keep up, here are five terms you should know: the “Bush tax cuts,” alternative minimum tax (AMT), the “Buffett rule,” value added tax (VAT) and flat tax.

• Mid-Year Reality Check: Covering Your Bases in Uncertain Times

  Imagine playing a complicated game, but the rules of the game are changing, and the new rules have yet to be announced. That's what income tax planning is like this year. In fact, if there was ever a year to spend some quality time with your financial professional, this is it. Here are a few items to discuss.

• Speculating on the Future of the Federal Estate Tax

  What's the future of the federal estate tax? All we know is that no one knows for sure; it's all speculation. So, let's take a look at what could happen. There are five possibilities: (1) Congress could extend current tax law (commonly referred to as the "Bush tax cuts"); (2) Congress could do nothing, essentially turning the calendar back to 2001; (3) Congress could compromise, agreeing on something between the 2001 tax rules and the rules that apply in 2012; (4) Congress could enact new estate tax reform; or (5) Congress could repeal the estate tax altogether.

• The American Taxpayer Relief Act of 2012
• The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010