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 Legislation passed by the US Congress in the past few years has resulted in numerous tax law changes. These changes have had and will have a major affect on individuals and owners of small businesses. The major tax law changes have been documented in many publications and web sites. But few of these sources provide a taxpayer with a complete and easy to access data base of the tax law changes, categorized by who they affect and when they take affect. There are specific tax laws that were not affected by the taxpayer relief act. Some of these laws are identical to previous years, others have changed based on updated AGI requirements, ceilings, floors, and other numerical aspects that change from year-to-year. For information on the new tax laws please select from the menu to the left. |
RECENT CHANGES New Withholding and Estimated Tax Rates for 2nd Half of 2001 (see menu) New Capital Gains holding period and tax rate. Exclusion of Profits from Sale of Primary Residence Home Office Deduction Requirements (less strict) New Education IRA New Roth IRA for Tax Exempt Distributions Estate Tax Exemption Increase and Family Business Exemption Exclusion of Gains from Small Company Sales Increased Self-Employed Health Insurance Write-off Looking for details on the IRS Reform Act of 1998? For 1997 Taxpayer Relief Act Summary, Click HERE
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