Join us at the Hyannis Golf Club for a networking opportunity and presentation on Strategies To Minimize Taxes In 2011 utilizing new law changes presented by Terence Shepherd, CM&AA, CPA, MST a Principal of ROCG Shepherd & Goldstein Consulting Group on Tuesday, February 1st from 7:30 - 9:30 AM.

The bill extends for two years all of the Bush-era tax rates and provides a one-year payroll tax cut for most American workers, delivering what economists predict will be a needed lift.

If Congress hadn't taken action, here's what was at stake: 

• All individual tax rates will increase in 2011. Taxes on low income-earners would rise from 10 percent to 15 percent and the top bracket would increase from 35 percent to 39.6 percent. So depending on what happens, individual taxpayers may want to take action to accelerate income into 2010 and possible defer deductions into next year.
• With capital gains set to increase from 15% to 20%, people planning to sell a business, second home or investments need to decide whether it will be better to close a sale before December 31 or after the New Year.
• Dividends currently taxed at 15% will again be taxed at the ordinary income tax rates in 2011 and could dramatically increase to 39.5% at the top bracket. As a result, business owners with C-Corporation earnings should be watching closely to see if dividends should be paid out before the end of the year.
• Planning for the inevitability of one's own death also becomes more complex. People with estates above $1 million don't know whether to make gifts to relatives before December 31 to take advantage of the low gift tax rate of 35% vs. the higher estate tax rates that are set to go into effect at the beginning of the year. Without new tax legislation in this area, estate tax rates are set to rise in 2011 and beyond to a maximum rate of 55%.

We encourage you to register today, or for more of information contact jenn.moore@rocg.com or call Jenn at 508-757-3311.