title>Tax Guru-Ker$tetter Letter Wizard Animation

                 

Tax Guru-Ker$tetter Letter
Saturday, May 24, 2003
 

New Tax Rates


I've updated the 2003 tax rate schedules to reflect the new law.  I also added a lot of info at the bottom of the page on the new special rates for dividend income and long term capital gains. The lower rates on dividends kick in as of January 1, 2003; but the lower long term capital gains rates don't apply until sales made after May 5, 2003. For installment sales, we will need to keep track of separate totals for principal received between 1/1/03 and 5/5/03 and what is received from 5/6/03 through 12/31/03 so that the proper rates can be applied.  We can expect a very messy Schedule D for 2003.


I also updated the Section 179 info to reflect this new tax law.

Labels:


- posted by Kerry M. Kerstetter, MBA~CPA~ATP~ATA @ 5/24/2003 06:12:00 PM Send this post:

Powered by Blogger