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Why not much discussion of tax changes for 2011?
Posted on 2/1/11 at 4:19 am
Posted on 2/1/11 at 4:19 am
100% bonus depreciation for businesses and SS down to 4.2% for employees 
3
Posted on 2/1/11 at 6:45 am to lynxcat
I'm glad to keep more of my money, but it makes no sense to bring in less money for a ss program that is already broke. It just accelerates its demise
Posted on 2/1/11 at 9:06 am to lynxcat
what's the deal with depreciation, is this different from the sec 179 stuff that has been in effect for several years?
Posted on 2/1/11 at 10:11 am to ForeLSU
yeah, they way you describe it makes it sound as if we can double the depreciation! 
but I am not accountant....
but I am not accountant....
Posted on 2/1/11 at 11:25 am to aaronb023
quote:
It just accelerates its demise
If this is the case then why should people that wont retire for 30+ years have to pay anything? Let us have our own money to invest.
Posted on 2/1/11 at 11:31 am to Catman88
+1
and of course, the theory is if the employer pays less in the SS taxes then maybe they can afford to hire more people
and of course, the theory is if the employer pays less in the SS taxes then maybe they can afford to hire more people
Posted on 2/1/11 at 3:20 pm to lynxcat
quote:
SS down to 4.2% for employees
This irks me to no end. You have people excited that they are bringing home an extra 15-50 bucks a paycheck, and I'm just thinking to myself, really?
Either cut the damn program out, restructure it, or give me my money back.
Are they conceding to it's eventual demise?
This makes almost 0 financial sense to me. I took no time to look in to how/why this happened, but if somebody has and would like to explain it to me, please do.
Posted on 2/1/11 at 3:25 pm to Shankopotomus
quote:
and of course, the theory is if the employer pays less in the SS taxes then maybe they can afford to hire more people
Nope, employers still pay 6.2%. The 2.0% cut only applies to the employees part of SS.
Posted on 2/1/11 at 3:26 pm to ForeLSU
quote:
what's the deal with depreciation, is this different from the sec 179 stuff that has been in effect for several years?
For 2011, all capital expenditure from businesses can be depreciated at a 100% rate. This is probably one of the biggest things to help the economy that the government has done in the past few years.
For whatever reason, it is getting almost no press.
Posted on 2/1/11 at 9:25 pm to lynxcat
Its not all cap ex, its only new cap ex. You can still 179 everything else though.
Posted on 2/1/11 at 10:20 pm to kfizzle85
Section 179 is limited to income.
Depreciation can cause a loss.This provides the opportunity to carry back losses for refunds or carry forward the loss to offset future taxable income.
There is a difference.
Depreciation can cause a loss.This provides the opportunity to carry back losses for refunds or carry forward the loss to offset future taxable income.
There is a difference.
Posted on 2/1/11 at 10:31 pm to lsulexus
I thought 179 was for cap too. Just at like a .85 rate for year 1 and table out the remaining .15. This 1.00 rate is great though.
Posted on 2/2/11 at 2:24 am to kfizzle85
quote:
Its not all cap ex, its only new cap ex
Yes, sorry for not clarifying originally. This is a huge boost to the economy and could lead to tons of investment. I wish it was being discussed more by the mainstream.
Posted on 2/2/11 at 6:49 am to lynxcat
quote:
For 2011, all capital expenditure from businesses can be depreciated at a 100% rate.
are there still restrictions on vehicles? or can I get that "company" Porsche this year?
Posted on 2/2/11 at 10:14 am to ForeLSU
quote:
are there still restrictions on vehicles? or can I get that "company" Porsche this year?
Not sure about that specific of a detail. I would imagine so.
Posted on 2/2/11 at 11:34 am to lynxcat
They'd have to be mildly competent to do so. FWIW I did mention it a few weeks back (which makes me mildly competent FTW).
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