Well that’s a Relief!
Have you noticed that there seem to be more and more new regulations about tax every time it is mentioned?
This was a nice change – in 2010 President Obama signed the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010. You are probably wondering what that is. Actually it is a new law that makes the tax laws a lot clearer and at the same time individual income tax rates and the payroll tax was cut for 2011. If this all seems like gobbledygook to you, you really need somebody who understands not only tax relief rules and regulations but who really knows the Laws to be able to help you.
The new law basically cuts an employee’s share of Social Security taxes from 6.2 percent to 4.2 percent up to the taxable maximum amount of $106,800 for calendar year 2011. The actual law for ordinary people is quite difficult to understand in its written form (as are most of the documents in legal jargon) and so if you are not used to reading these kinds of documents, then you will undoubtedly need the help of a Tax Attorney, who will be able to explain what tax relief you are able to get, in layman’s language.
There are huge benefits for businesses which came into effect in 2011 called Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010. This new law promotes a huge number of tax incentives for the business taxpayer, but you will need help with that from a Tax Attorney – unless you studied Law yourself.
An expert in Tax Law is essential to get the benefits of all the new tax cuts and changes for businesses. If you do not want to lose out on some really good tax relief benefits, then you should seek advice from a Tax Attorney as soon as possible.
The Estate Tax has also been changed and you will definitely need clarification on this one. You may well have to change your will and you might be eligible for tax relief too. If you speak to a Tax Attorney he or she will be able to advise you on which course you should take.
Your Tax Lawyer will be able to advise you on grants for using alternative energy. You can get tax credits for biodiesel. Another really good tax incentive is one which should help everybody and that is special tax incentives for builders of energy efficient homes.
If you have your own small business then it will certainly pay dividends if you get specialised advice on tax relief from a Tax Lawyer. He or she will know exactly what benefits you can glean from the Tax Department’s new regulations. Why not make an appointment today?