Sharon Ragin CPA, LLC

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Tax Tips


 

Did you know that:

Selected Tax provisions will expire during or after 2010. A few areas that impact most taxpayers are:

  • Individual Estate and Trust Income Tax Rates
  • Capital Gains Tax Rates
  • Qualified Dividends
  • AMT Preference for " Qualified Small Business Stock"
  • Tax Rate Bracket for Joint Filers
  • Increased Standard Deduction for Married Taxpayers
  • Limit on Itemized Deductions for Higher-Income Individuals
  • Phase-out of Personal Exemptions
  • Coverdell Education Savings Accounts
  • Employer-Provided Educational Assistance
  • Student Loan Interest Deduction
  • Earned Income Tax Credit
  • Child Tax Credit
  • Child and Dependent Care Credit
  • First Year Bonus Deduction
  • Additional Bonus Deprecation for Passenger Automobiles
  • Making Work Pay Credit
  • American Opportunity Tax Credit
  • Credit for Qualified Energy-Efficient Home Improvements
  • Temporary Increase in Refundable Portion of Child Credit
  •  For Business Owners (Self - Employed Individuals Deduction for Health Insurance Premiums for S/E Tax Purposes)
  • Health Insurance Credit for small business that pay for insurance for 50 or fewer employees.
  • ..... and many more!

 

Always consult your tax adviser for further information!

 

Please call our office at (404) 525-4030 if you have any questions or concerns.