Tax planning ideas for individuals, businesses, estates and trusts, Ideas for building an extraordinary business, News about Financial Insider Weekly television series episodes
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The broadcast time in San Jose and Campbell for Financial Insider Weekly, featuring host Michael Gray, CPA inteviewing guests on personal and business financial topics, is changing to 7:00 p.m. starting this Wednesday, August 18. The show is broadcast on Comcast Channel 15 in San Jose and Campbell, and as streaming video at the [...]
Under the Economic Growth and Tax Relief Reconciliation Act of 2001, the maximum federal gift tax rate for 2010 is 35%. If Congress does nothing, the maximum rate will return with a vengence to 55% in 2011, plus an additional 5% surtax for taxable transfers over $10 million until the benefits of lower brackets are phased out.
Tags: estate, gift, plan, Tax matters
2010 might be the last chance for S corporations to make a special election that may protect their status as S corporations and the related tax benefits.
Tags: S corporation
Pension portability has been tremendously increased by the Economic Growth and Tax Relief Act of 2001 and the Pension Protection Act of 2006. With a few limitations, funds can be transferred from employer retiirement accounts to a Roth or IRA account and, in some case, from a Roth or IRA account to an employer retirement account.