Tax Changes 2010 – Business And Personal
The 2010 tax laws barely changed in comparison with the tax provisions enacted trough The American Recovery and Reinvestment Act of 2009.
For 2010, small business owners can claim nearly half of the tax deduction they could claim in 2009. The deduction allowed for small business owners is equal to $135,000 of expenses for qualifying equipment purchased and placed in service during the year.
The estate tax was repealed for 2010.
The personal exemption remains the same as $3,650, just as in 2009.
For 2010, the credit rate for energy saving home improvement has been reduced from 30% (allowed in 2009) to 10%.
Similar tax law changes moderately affected some other deductions and tax credits allowed in the previous years.
Caught Up On Other Issues With The Tax Changes 2010, Contact Us Today!
Tax News Updates:
Spectra Energy Partners Reports Year End and Fourth Quarter 2011 Results ...
For the year, net income was up almost $25 million over 2010 with net income reported at $172.0 million, compared with $147.9 million in 2010. Cash available for distribution was $38.0 million for the quarter, compared with $35.0 million in the prior ...
Some of Pennsylvania's budget woes harken back to corporate tax change
8, 2010 to Dec. 31, 2011 — a practice known as “bonus depreciation.” This “bonus depreciation” reduced corporate tax liabilities and caused tax collections to shrink. Though the Center on Budget and Policy Priorities had forewarned of the sizeable ...
Bob Jacobson column: Changes to Homestead Tax Credit will hit seniors hard
Last year, the governor and state legislature reversed a 2009 decision to increase the tax credit annually and raise the eligibility ceiling to reflect changes in the cost of living. Prior to a small increase in the Homestead Credit in tax year 2010, ...
Neumann: Tax law changes, and explanations, for 2012
Here is some information, explanations and, hopefully, a few good ideas that you can use regarding tax law changes. Let's begin at the end - estate law changes for 2012. For those who remember, Congress made a circus of the estate tax in 2010 when the ...
