Tax rate – Elite CPA Tax

Don’t like the “rich” getting lower capital gain rates? Don’t worry; it’s going up 67%!

By elitecpas | March 6, 2012 |

Possible increases in capital gain rates

Before the anti-capitalists rejoice too much . . . Just remember that, in our capitalistic system, all economic benefits for both rich and poor are driven by the formation of capital. If it becomes harder to hang on to your capital, then there will be less fuel for the economy’s engine. That said, here’s where the highest capital gain…

Tax breaks of C Corporations

By elitecpas | November 18, 2011 |

Income splitting. The government taxes the first $50,000 of corporate profits at a lower rate than the individual owners’ tax rates. Therefore, you one should split your C corporation’s income between yourself (or your S Corp) and the C corporation. This allows you to pay taxes on the salary you pay yourself at your individual…