Best CPA Tax Preparation in St. Louis and Chesterfield Missouri Provides Insight in 2011 Tax Law

FOR IMMEDIATE RELEASE
St. Louis, Missouri, United States of America (Free-Press-Release.com) January 20, 2011 -- FOR IMMEDIATE RELEASE (January 20, 2011 - Chesterfield, MO)

It’s a good time to consider capital expenditures because of the favorable depreciation choices:

1. Increased Sec. 179 depreciation expensing limitations for 2010 and 2011. Businesses may write off 100% of their equipment and machinery purchases in the year of purchase. The amount of depreciation allowable may be up to $500,000 for each of 2010 and 2011. (Income and basis limitations apply.)

2. Certain leasehold improvements will qualify for Sec. 179 depreciation. This means certain leasehold improvements may be 100% depreciable in the year of the improvement.

3. Additional first year depreciation of 50% is allowed on certain property. This is a good second choice if a company cannot use the increased Sec. 179 depreciation rules above, due to income limitations.

And there are payroll tax savings available:

FICA tax reduction for employees and self employed folks. Employees and self-employed workers will receive a reduction of two percentage points in Social Security payroll tax in 2011, bringing the rate down from 6.2% to 4.2% for employees, and from 12.4% to 10.4% for those that are self-employed.

And the health insurance savings:

Small Group Health Insurance Credit. Small businesses will receive a tax credit beginning in 2010 for providing health insurance to their employees. The employer must have fewer than 25 employees and the average annual wages must be less than $50,000. The maximum credit allowed is 35% of the premiums paid.

For additional details, visit http://www.bushurtaxes.com

###
For more information contact Lisa Bushur CPA Group at 636-386-1040.

More information can be found online at http://bushurtaxes.com

best cpa in chesterfield     best cpa in saint louis     tax preparation in st. louis     tax preparer chesterfield