Factoring .panies Factoring Support 2010 Tax Debts-yuria

Finance If you are a small businesses then you know it is time to think about 2010 year-end taxes. And this year, there may be more than a few changes to the 2010 and 2011 federal in.e taxes. Unfortunately, even given the economic situation in the United States, taxes are scheduled to increase next year, so you may want to think carefully before incorporating the concept of deferring without the proper analysis of any associated risks. Recent tax breaks are slated to phase out in 2010, which means there are a number of tax changes that are already being incorporated into law. To be prepared, you may want to think about looking for a factoring .pany so you can start factoring your .pany’s invoices in the new year, to save the funds to support these new laws. Following are just a few of the proposed federal in.e tax changes. Increasing Federal in.e tax rate facts include: – So, the 10 percent rate will retire on Dec. 31, 2010, but in 2011, all of the other rates will be reverting to the pre-2001 levels: 15, 28, 31, 36, and 39.6 percents. The Federal administration has proposed extending the current rates, allowing only the top two rates to revert to 36 and 39.About 6 percent for taxpayers with in.e over $200,000 — for single filers (SF) and over $250,000 for those who are married and who are filing jointly (MFJ). – Limited itemized deduction and personal exemptions — overall limitation on itemized deductions and the personal exemption phase-out (PEP) returns in 2011 after being gone in 20101. Itemized deductions must be reduced by 3 percent of excess MAGI over the applicable threshold but by no more than 80 percent of itemized deductions. $166,800 was the applicable threshold amount for 2009 and the and the amount for 2011 will soon be released by the Treasury. – Long-term dividend tax increases and long-term capital gains (LTCG) — qualified dividends are tax-free for those subject to the 10 and 15 percent in.e tax rates and all others are subject to a 15 percent rate. But don’t forget a special 28 percent applies to antiques and works of art, which are considered collectables. – The LTCG rates of 0 and 15 percent will be replaced in January 2011 with 10 and 20 percent and dividends will be taxed as ordinary in.e. The five-year qualified-gain rules will resurface — meaning, property held for more than five years that would have been taxed at the 10 and 15 percent LTCG rates will be taxed at discounted rates of 8 and 18 percent. – The new Medicare surtax is 3.8 percent, and it is scheduled to go into effect in 2013 on the lesser of net investment in.e, or modified adjusted gross in.e (MAGI) – but that’s in excess of $200,000/ $250,000 (SF/MFJ). – Alternative minimum tax increases — the higher 28 percent alternative minimum tax (AMT) rate applies to AMT in.e in excess of $175,000. For 2010 and 2011 the AMT exemption amounts stay the same$33,750/ $45,000 (SF/MFJ)—and phase out entirely when the AMT in.e exceeds $247,500/$330,000 (SF/MFJ). – If you are married you will be penalized — as married taxpayers beginning in 2011, will pay 167 percent of the single-filer bracket top when filing jointly. Nowadays married couples enjoy a standard deduction and a 15 percent in.e tax rate bracket top that are 200 percent as high as that of those who are single filers—a $5,700/$11,400 (SF/MFJ) standard deduction and a 15 percent bracket top of $34,000/$68,000 (SF/MFJ). It has been proposed by the administration — locking in the 200 percent rate for the future. This could be the time when those who are in business for themselves begin to think about factoring, to .e up with the difference in cash outlay. – When it .es to the future — the Federal administration wants to increase the applicable threshold to $200,000/$250,000 (SF/MFJ). And they also proposed to cap the benefit of itemized deductions at 28 percent. Specific itemized deductions are and will remain exempt from phase-out including medical expenses, casualty, theft and wagering losses, and investment interest expenses. By the year 2013 medical expenses may only be deducted when they exceed 10 percent of the adjusted gross in.e (AGI) of the taxpayer. About the Author: 相关的主题文章: