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
28°
H 31° L 25°
Cloudy | 0MPH

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

» Oak Creek wrestlng team overwhelms Franklin, 50-18 12/18

» Westbound I-94 near Miller Park to close for 31 hours beginning Friday night 12/18

» Franklin to negotiate terms of West St. Martins Road repair, ownership with Milwaukee County 12/17

» Developers propose three apartment projects in Cudahy 12/11

» Oak Creek has plans for development on lakefront after cleanup 12/10

» Oak Creek accepts ownership of former EPEC, Du Pont lakefront land 12/10

» Menomonee Falls boys get defensive in beating Franklin, 48-30 12/9

» Homeward bound: Victory of the Lamb, Kayla's Krew move closer to making new facilities a reality 12/9

» Oak Creek listens to proposals for new fitness center 12/9

» Franklin man faces arson charge for allegedly starting apartment fire 12/8

» Select Hales Corners Library services on hold during carpet project 12/8

» Tailgate 'n skate with Santa in Hales Corners 12/8

» No new Chapter 220 seats identified in OCFSD for 2015-16 12/4

» Arson suspect of Franklin apartment complex fire taken into custody 12/3

» Protest stalls Franklin apartment plan 12/2

» Fire at Franklin apartment building under investigation 12/1

» In more schools, going to class means heading to the woods 11/26

» Franklin Historical Society plans two old-fashioned Christmas events over two weekends 11/26

» Public workshop welcomes input for Lake Vista redevelopment 11/26

» Mom gets 7 years for child porn between herself and toddler son 11/25

» Have a 'Dickens of a Christmas' in Greendale on December 5 11/24

» Wrong-way driver turns himself in after I-794 crash Updated:  11/22

» Off-duty Milwaukee police officer pepper-sprayed by fleeing suspect 11/22

» State champion Oak Creek girls hoops team opens with rout of Horlick 11/21

» Video: Franklin faces conflicting views on new developments 11/21

View All Posts Got a tip? Welcome rss

Advertisement

Deal Watch - Milwaukee

Milwaukee's Best Discounts & Deals

Advertisement

Local Business Directory

CONNECT    

Most Popular