NOW:53130:USA00949
http://widgets.journalinteractive.com/cache/JIResponseCacher.ashx?duration=5&url=http%3A%2F%2Fdata.wp.myweather.net%2FeWxII%2F%3Fdata%3D*USA00949
61°
H 73° L 53°
Cloudy | 6MPH

Year End Tax Tips

Dec. 14, 2010

Nolan Accounting Center of Greenfield is a locally owned & operated family business offering accounting & tax preparation for individuals for over 45 years, knows that tax time is just around the corner. They saw many tax law changes this year, & even more are coming in 2011. Their advice? Be prepared!

 

Nolan Accounting Center offers a checklist of tax tips for individuals, courtesy of the National Society of Accountants & CCH, a Wolters Kluwer business. Choose your brackets carefully because you may want to accelerate income & defer deductions if you expect your income to be higher in 2011.

 

Beware of upcoming limits on itemized deductions because if you’re a higher-income taxpayer who will be affected by the limit on itemized deductions, you may want to try to accelerate deductions into 2010 instead of 2011 if possible.

 

Also, Take advantage of lower capital gains rates because for 2011, the maximum tax rate on long-term capital gain is scheduled to rise to 20%, with a 10% rate applying to taxpayers in the lowest brackets. Saving energy pays off. If you have made certain energy-efficient home improvements this year, you may be able to claim a credit for some or all of the repairs.

 

Other tax law changes for 2010, such as tax incentives that expired in 2009 & possible changes to the Alternative Minimum Tax, should also be examined for their impact on taxable income & tax rates.

 

For additional year end tax tips, please contact Timothy R. Nolan at (414) 425-5690 extension 441, tnolan@nolanacctgctr.com or go to www.nolanacctgctr.com

 

 

This site uses Facebook comments to make it easier for you to contribute. If you see a comment you would like to flag for spam or abuse, click the "x" in the upper right of it. By posting, you agree to our Terms of Use.

Suburban News Roundup

E-mail Newsletter

Your link to the biggest stories in the suburbs delivered Thursday mornings.


Enter your e-mail address above and click "Sign Up Now!" to begin receiving your e-mail newsletter
Get the Newsletter!

Login or Register to manage all your newsletter preferences.

Community Watch

» Franklin football team emphatic in 37-0 rout of area rival Greendale 8/27

» Updated weekly rankings of area prep football teams and players 8/27

» Greendale Education Foundation announces new calendar raffle fundraiser 8/27

» Greendale's Park and Recreation holds contest for new logo 8/27

» Reiman Chapel in Franklin to host blessing, tour for public 8/26

» Young Oak Creek football team makes impression with rout of Falls 8/25

» Greendale police searching for strong-arm robbery suspect 8/25

» Greendale man killed in Washington County crash Updated:  8/25

» Oak Creek man killed in Sauk County traffic accident 8/25

» Oak Creek tennis team wins South Milwaukee Invite 8/25

» Oak Creek community buries time capsule at future city hall 8/25

» Initial Reaction Podcast: What stood out on the first week of high-school football? 8/25

» Oak Creek-Franklin School Board receives voter approval to add two more seats 8/24

» Oak Creek-Franklin School District approves preliminary budget, calls for tax rate increase 8/24

» Tickets now available for Oak Creek's Pig and Chicken Roast 8/24

» Franklin shows its special qualities 8/21

» Youthful Oak Creek football team impresses in 26-0 win over Falls 8/21

» Honeywell volunteers help repair Greendale veteran's home 8/21

» Fire destroys garage in Franklin 8/21

» Greendale residents can receive free 'File of Life' documents from Health Department 8/20

» The 2015 Suburban Milwaukee Prep Football Guide 8/19

» Greendale to share fire ladder truck with Hales Corners during emergencies 8/19

» Get to know: Franklin Sabers 8/18

» Ad-Tech Medical implant maker seeks new plant in Oak Creek business park Updated:  8/18

» Get to know: Oak Creek Knights 8/18

View All Posts Got a tip? Welcome rss

Advertisement

Advertisement

Local Business Directory

CONNECT    

Advertisement