Tag Archives: taxes

Family Businesses Should Plan Now for Rising Gift Tax

The 2010 law governing gift and estate taxes is set to expire at the end of this year. For 2013, assuming Congress does not act, the lifetime limits on gift tax will fall from $5.12 million to $1 million. That means an individual can gift, over his lifetime, no more than $1 million tax-free starting in 2013. The top gift tax rate on amounts of more than that $1 million threshold is also scheduled to rise from 35 percent to 55 percent starting next year.

Read more

New year will bring new laws and regulations for small businesses

In California, the new rules include limits on the ability of businesses to check the credit reports of workers and job seekers. Nationwide, tax deductions for equipment purchases will be sharply reduced.

Small-business owners will be greeted Jan. 1 with dozens of new laws and regulations.

In California, they will include new mandates concerning employees, including a partial ban on checking the credit reports of workers and job applicants.

And it’s no surprise that there are changes at the federal level too.

Here’s a guide to some of the new laws and regulations set to go into effect in 2012.

  • Federal Taxes changes
  • New federal accessibility  rules
  • New California laws

Read more