The Patient Protection and Affordable Care Act (Health Care Act) provides a new beneficial tax credit for small employers. For tax years beginning in 2010 through 2013, this legislation provides the small employer health insurance credit for qualified small employers that purchase health insurance … Read More »
Worthless Securities Losses
Taxpayers are allowed a capital loss tax deduction when securities (e.g., common stocks) that are held as capital assets become worthless. The issue of worthlessness can occur where, for example, a taxpayer owns an interest in a small, closely held corporation that is experiencing severe financial … Read More »
Annual Gift Tax Exclusion
The Annual Gift Tax Exclusion provides a tax-advantaged way to reduce your taxable estate and make generous gifts, as well. The exclusion allows any individual to gift property valued at $13,000 (in 2009, indexed for inflation) or less without having to file a gift tax return or reduce their $1 … Read More »
