Tag Archives: tax credit
Congress and the White House are struggling to avoid the “fiscal cliff,” the package of huge tax increases and spending cuts that kick in next year unless a budget agreement is reached first. Read More
As Americans receive their first paychecks of the new year, there are some tax provisions they can count on. Individual tax rates will be the same for 2012 as they were in 2011, as will the 15 percent maximum tax rate on capital gains. Read More
Home prices aren’t what they used to be. Their steady decline may be causing your anxiety to rise. After all, buying a home is a big commitment. But even in a down market, how you go about deciding whether to buy a home remains the same. Read More
The Bush-era tax cuts have been extended, the alternative minimum tax is patched and capital gains rates are set. Tax breaks are in place for students and teachers, and for the most sizable estates. Congress established some of the parameters for the 2011 tax year even before the year began.
The big question confronting lawmakers was whether to extend the Bush tax cuts and for whom. Democrats had argued that the nation’s richest taxpayers should be excluded from any extension Read More
Highlights of the tax package passed by Congress late Thursday, December 16, and sent to President Barack Obama. It would cost about $858 billion; most provisions, which were to expire Jan. 1, would be extended for two years, unless noted.
The package extends:
The Internal Revenue Service on Friday, May 21, released the guidelines that small companies can use to apply for tax credits to spur medical research.
The credit will cover up to 50 percent of the cost of qualifying biomedical research, up to a maximum credit of $5 million per business. The credit is only available to companies with fewer than 250 employees . . . read more Read More