News Letters

What’s new on the 2009 tax return? Federal individual tax rates haven’t changed for 2009, remaining at 15%, 22%, 26%, and 29%. Federal individual tax brackets are, however, indexed to changes in the inflation rate, so that each year a greater proportion of income is included in lower income brackets and, therefore, taxed at lower […]

TAX LETTER May 2011 DRAFT LEGISLATION ON CONTINGENT AMOUNTS PENSION INCOME SPLITTING DEDUCTING PREMIUMS ON LIFE INSURANCE USED AS COLLATERAL TRANSFERS TO SPOUSES CARRYOVER OF LOSSES PRESCRIBED INTEREST RATES AROUND THE COURTS DRAFT LEGISLATION ON CONTINGENT AMOUNTS Under    the     Income   Tax   Act,     a   cost   or expense  for   the   purpose   of earning income from  a   business