Tax Relief / Job Creation Act of 2010
On December 17, 2010, the President signed into law the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010.
Some of the most significant features of the Act include:
- The favorable capital gains/dividend tax rates stay in place for two years
- A one-year payroll tax cut for employees
- 100% bonus depreciation for 2011 and 50% bonus depreciation for 2012
- An AMT "patch"
- Top federal estate and gift tax rate of 35% with a $5 million exclusion
To read more about the Tax Relief Act of 2010 click here