Relief in Store for Small Biz? Examining the Impact of the Tax Relief Act

As if small business owners didn't have enough to worry about, along comes the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010, which, experts say, will have a significant impact on business owners, both in the course of day-to-day operations, as well as in the realm of their personal finances and longterm estate planning objectives. The February installment of the 'Legally Speaking' program will focus on important changes resulting from recent passage of the Tax Relief Act, legislation that significantly changes estate and gift taxes and also modifies income and payroll tax laws. Presenter Renee Vidal, a shareholder with Flaster/Greenberg PC, will explain the key provisions of the act and their impact on small business owners. The workshop first examines what the changes are, their timeline for implementation and what small business owners can expect going forward. The second portion of the seminar will explain in practical and concrete terms what options exist to utilize the act's more advantageous provisions to benefit your estate plan, how business owners can leverage reduced capital gains rates, higher allowable deductions and first-year depreciation rules, and much more.

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