Timely Opportunities

Beginning in 2008, the federal tax rate on long-term capital gains and dividends dropped to zero percent for people in the lowest two tax brackets. Who can take advantage? Potential beneficiaries include recent college graduates, retirees, new business owners who have modest incomes this year and others. Parents or grandparents might want to give appreciated securities to loved ones who qualify. Click "Full Article" for details, including how the new zero percent rate affects estate planning and the "Kiddie Tax."
Copyright © 2008

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  Business Tax

Your company doesn't have to settle for depreciating business equipment over several years. With a special tax election, you can get a hefty deduction immediately on your tax return for computers, telephone systems and other expensive equipment. Here's a rundown of the rules.
Copyright © 2008

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  Personal Tax

The longer you can shelter money in a qualified retirement plan from taxes, the larger the account can grow. But if you inherit money from a qualified plan owned by someone other than your spouse, you may receive a taxable distribution that ends the shelter. Fortunately, a law passed in 2006 provides some new options for non-spouse beneficiaries that allow them to defer paying taxes on large inherited distributions. Take a look at the rules and who can benefit.
Copyright © 2008

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