The federal tax filing deadline of April 18, 2011 is looming, but there is still time to cut your taxes for 2010. Read this Tax Tip for five strategies.
Changing from a C corporation setup to the S corporation setup can be beneficial, but there are numerous factors to consider. With the March 15 deadline for 2011 fast approaching, you should seek guidance for your situation.
The recently enacted Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 is a sweeping tax package that includes, among many other items, an extension of the Bush-era tax cuts for two years, estate tax relief, a two-year patch of the alternative minimum tax (AMT), a two-percentage-point cut in employee-paid payroll taxes and in self-employment tax for 2011, new incentives to invest in machinery and equipment, and a host of retroactively resuscitated and extended tax breaks for individuals and businesses.