Atlantic Income Tax News
Tax News
Last week one of my clients let me know of his growing frustration over being singled out as a deep pocket for special treatment by his state…and his belief that he could enjoy his lifestyle just as well if his family headquartered in Nevada, Washington or Texas.
For the year 2011, the same tax rates that applied in 2010 have been extended to apply to the years 2011 and 2012. The Tax Relief Act of 2010 temporarily extends the existing tax rate structure for two more years. Tax rates will change in the year 2013 unless new legislation is passed. For 2011, there will be six tax rates of:
- 10%
- 15%
- 25%
- 28%
- 33%
- 35%
It's not often that we get lump sums of cash, and the temptation is great to do the wrong thing. Here's a quick checklist.