In 2011, personal exemptions and standard deductions will rise and tax brackets will widen due to inflation. These inflation adjustments relate to eight tax provisions that were either modified or extended by the Tax Relief, Unemployment Insurance Re-authorization and Job Creation Act of 2010 that became law on Dec. 17. New dollar amounts affecting 2011 [...]
Posts tagged standard deduction
Hiring Family Members For your Business
Employing your Child – A reasonable salary paid to a child reduces the self-employment income and tax of the parents (business owners) by shifting income to the child. If the business is unincorporated and the wages are paid to a child under age 18, he or she will not be subject to FICA – Social [...]


















