Page 37 - MetalForming November 2010

“We know die tooling. We know machining.
We have the capabilities. And we deliver precision.”
• Complete CNC Precision Machining • 5-axis Machining • Wire EDM
• Sinker EDM • Turning • Milling
• Surface Grinding • Jig Grinding
Try Us!
www.future-products.com or 1-800-237-5754
Irvin Swider – President, Future Products
885 N. Rochester Road Clawson, MI 48017 Phone: 1.800.237.5754 Fax: 248.588.7303 info@future-products.com
Die tooling for Metal Stamping and Metal Forming
Machined Components for Medical and Aerospace
2010. Suppose at the end of 2011 the same group of assets total $1.3 million, an increase of $300,000. Success would get a deferred tax credit (DTC) of say 90 percent of the $300,000, or $270,000. Now assume that Success’ income-tax bill is $370,000. The DTC would reduce the amount due to the IRS to $100,000 ($370,000 to $270,000).
Each year the computations of the DTC would be repeated, resulting in an increase of the DTC or payment of the prior year(s) tax because of a DTC decrease. Now don’t be a nitpicker. Of course, there would be rules to help qualified small businesses grow, yet pre- vent cheats from cutting their taxes by misuse of the DTC rules.
Now, take a moment and go back and read the five positive impacts that lowering taxes will have. Do you agree? If so, join me in the fight to keep the income-tax law and, in addition, help closely held businesses grow. Pass this article on to your friends.
How can you help? In two ways:
1) Send this article to your repre- sentative in the House and Senate; and 2) Vote for those members of Con-
gress who support tax cuts.
Let me end on a positive note. Can’t
tell you exactly when (maybe before the November elections, but certainly shortly after the 112th Congress begins business after the election), but the estate tax will be changed to ease your potential estate tax liability. How? Between $3.5 million (the House ver- sion) and $5 million (the Senate ver- sion) of your wealth will be estate-tax free. That’s between $7 million and $10 million for you married folks. Nice!
Finally, no matter how the final estate-tax law comes out of Congress (whether your net worth is $8 million or $80 million), we have figured out how to—legally—eliminate the estate tax. To learn how it’s done, browse my web- site: www.taxsecretsofthewealthy.com.
Questions or comments... Call Irv at 847/674-5295. MF
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METALFORMING / NOVEMBER 2010 35