Key Tax Changes in 2011, for individuals and businesses

There are a few changes that may affect individuals and small business owner in this upcoming tax season. The following checklist outlines these changes and provides a short description of what that change means. Click anywhere on the checklist to get a closer view.

Of all these changes, the one that will hurt our pockets immediately is the elimination of the Making Work Pay Credit. That credit is no longer available for 2011, in the past if you had earnings, you received a $400 refundable credit per individual and $800 per married couple.

So that pretty much summarizes all the changes for the upcoming tax season. I hope everyone has a great tax experience, if you have any questions I’ll be happy to help.

Sources:
taxresearchcenter.com
smartonmoney.com