I know that no one likes taxes, and it would be a major coup to have 100 people agree on what is the best taxation method, but we’ve truly gone through the looking glass folks. Tax Types Generally, you can tax anything or any activity, but most taxes center around the big three, real property, [...]
Archive for March, 2011
Loophole You Could Throw a 2X4 Through
The 2010 Tax Relief Act may have a large unintended loophole. The Act allows business to claim a 100% depreciation deduction in the year assets are placed in service for qualified assets. As usual, the devil is in the details. So what are qualified assets? Sure Thing As we’ve previously discussed in our letter on the [...]
Things That Will (Probably) Never Happen
Wanted to share some of the proposed tax law changes in the President’s budget. With the current political climate, it is hard to believe that the House will accept many of these changes, but really, who knows. Anti-Business Elements Raise Federal Unemployment Tax (FUTA) wage base from $7,000 to $14,000 Elimination of the LIFO inventory [...]