900 N. Kings Highway, Cherry Hill, New Jersey 08034 856.667.4100 · 215.563.0276 · Fax: 856.667.3652 Money Management is a weekly column on personal finance distributed by NJSCPA. Special Series - 2003 Tax Act Archives View past Money Management articles:   Other Tips Tax Tips Business Tips Financial Planning Tips Online Advisor Search Looking for something specific? Enter one or more keywords and search our entire site. Understanding How You Benefit From The 2003 Tax Act On May 28, 2003, the Jobs and Growth Tax Relief Reconciliation Act of 2003 became the third largest tax-cut package in U.S. history. The Act features income tax rate reductions, investment-related tax breaks, growth incentives for small businesses, and acceleration of certain previously enacted provisions. Estimated Taxes And The New Tax Act Most taxpayers don't have to do a thing to reap the key benefits of the $350 billion Jobs and Growth Tax Relief Reconciliation Act of 2003 signed into law on May 28, 2003. By mid-summer, when employers start using new tax withholding tables that reflect the reduction in the tax rates, employees can expect to see higher paychecks. And, beginning in late July, the IRS will automatically send taxpayers who qualify a check representing an advance payment of the increase in the child tax credit. Get The Facts On The New Child Tax Credit Remember all those times you gave your children advances on their allowances? Now, it's your turn to get an advance payment - not from your children per se but from the U.S. government. This summer, 25 million eligible taxpayers who claimed the child tax credit on their 2002 tax return 2003 Tax Act Encourages Small Business Growth Small businesses and their owners were among the big winners in the Jobs and Growth Tax Relief Reconciliation Act of 2003 reports the New Jersey Society of Certified Public Accountants (NJSCPA). Not only will millions of self-employed small business owners directly benefit from the Act's reduction in marginal interest rates, but two measures - an increase in the small business expensing election limit and an increase in the first-year bonus depreciation percentage - are designed to encourage small business spending on new business equipment. We currently have individuals licensed to offer securities in the states of New Jersey, California, Connecticut, Washington D.C., Delaware, Florida, Maryland, Nevada, Pennsylvania, Texas and Wisconsin and to offer investment advisory services in New Jersey, Connecticut, Delaware, Florida, Maryland North Carolina, New York, Pennsylvania, Texas and Wisconsin. This is not an offer to sell or provide investment advisory services in any other state or jurisdiction. Securities offered through 1st Global Capital Corp., Member FINRA/SIPC. Investment advisory services offered through 1st Global Advisors, Inc. [Business Information] [Home]
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