Archive for December, 2010
Will a Lame Duck Congress extend the Bush tax cuts?
Posted by taxguru on December 13, 2010
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Posted by taxguru on December 6, 2010
The Walking Death Tax – With all of the focus on extension of the Bush Income tax rates, the WSJ has a timely reminder that the immoral Marxist grave-robbing Estate tax will return in less than a month to confiscate 55% of the net estates from those unlucky enough to pass away in 2011.
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Typical bipartisanship…
Posted by taxguru on December 5, 2010
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Sec. 179 For Fruit Trees
Posted by taxguru on December 4, 2010
Q:
Subject: Qualifying Property – Fruit Trees
Kerry:
In your article on Section 179 revised April 27, 2010, you listed fruit trees as qualifying property from the Depreciation QuickFinder Handbook. Will you please tell me where you found in QuickFinder that the trees were qualifying?
Thank you!
A:
I haven’t purchased any new QuickFinder books for a few years; since I switched to TheTaxBook. However, I did keep my old copies of the QF books I had.
Attached is a copied & scanned copy of Page 5-5 from the 2005 Tax Year Depreciation QuickFinder Handbook. I’ve circled in red the Fruit Trees item in the list of property qualifying for Section 179.
I hope this is helpful for you.
Kerry Kerstetter
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| From Tax Info |
Update:
I recently purchased a copy of the 2010 edition of the Depreciation QuickFinder and it has the following lists:
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| From Tax Info |
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Posted by taxguru on December 4, 2010
IRS Announces 2011 Standard Mileage Rates
Beginning on Jan. 1, 2011, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:
- 51 cents per mile for business miles driven
- 19 cents per mile driven for medical or moving purposes
- 14 cents per mile driven in service of charitable organizations
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New IRS Scanners?
Posted by taxguru on December 3, 2010
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On everyone’s wish list…
Posted by taxguru on December 3, 2010
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Tax Guru - Ker$tetter Letter 