Marianne Kingman

About Marianne Kingman

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So far Marianne Kingman has created 18 blog entries.

5 New Tax Tips that Could Save You Money!

2019-03-05T23:44:25-07:00September 23rd, 2011|Investing, Tax Law|

1.  Investment Income: The capital gains and dividend tax rate will stay at 15% until at least the end of 2012.  For any non-tax deferred investing you plan on doing, make sure you take advantage of the low 15 percent capital gains tax rate now, because the chances of it staying this low past 2012 [...]

Depreciation of New Business Equipment Part 2

2019-03-05T23:44:26-07:00July 20th, 2011|Tax Law|

Q. Do used SUVs qualify for the Section 179 deduction?  A. Yes, but make sure the vehicle meets all other requirements, including Gross vehicle weight and business use percentage -- 50 percent or more. Also, there are rules concerning how the purchase is made, including Trade-in allowances, exchanges between relatives, and gifts and inheritances. See [...]

DEPRECIATION OF NEW BUSINESS EQUIPMENT Part 1

2019-03-05T23:44:26-07:00June 17th, 2011|Tax Law|

Most new business equipment can be either depreciated over its useful life or expensed immediately under Internal Revenue Code Section 179. The maximum deduction is based on the following schedule for the date in which the tax year begins. Each 1040, whether Single or Joint, is limited to one maximum. 179 expenses passed through via [...]

SAVED BY THE BELL!!! THE LAST MINUTE 2010 TAX RELIEF ACT (H.R. 4853)

2019-03-05T23:44:27-07:00March 21st, 2011|Tax Law|

This is a continuation of last month’s article which covered individual tax rates, alternative minimum tax, capital gains/dividends and the child tax credit. Itemized Deduction Limitation (Pease) The “Pease” limitation (named after the member of Congress who sponsored the bill enacting it) reduces the total amount of a higher-income individual’s otherwise allowable deductions.  The Pease [...]

Saved by the Bell!

2019-03-05T23:44:28-07:00February 10th, 2011|Legal Procedures, Tax Law|

THE LAST MINUTE 2010 TAX RELIEF ACT (H.R. 4853) Congress has finally approved (and President Obama signed) a multibillion dollar tax cut package entitled, The Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 (“2010 Tax Relief Act”)(H.R.4853). The 2010 Tax Relief Act includes a 2 year extension of the Bush-era tax cuts, [...]