Standard Tax Deductions: The standard tax deductions will be increased for most taxpayers. I don't think too many of us will complain about that one. The increased amount depends on the status you will using when you file your income taxes. The amount of the deduction will depend on weather you're filing a single tax return or you're married and filing a joint return.
Contributions to 401K & IRA accounts: You will be able to contribute more to these retirement accounts before having to pay taxes on it. The earned income credit has increased more than $2000.00 since 2008.
Tennessee illegal immigrants law: As of Jan.1, 2011 every jail across Tennessee must now report suspected illegal immigrants to the federal immigration authorities. This controversial new law is said to be targeting immigrants by opponents of the new law.
Ignition locks for DUI drivers: A judge in Tennessee can order an ignition lock on first time convicted DUI drivers. Critics say it's a tough stance for 1st time offenders. Minnesota has a similar law if the offenders blood alcohol is at least twice the legal limit.
Utility Companies shutoff notices to all tenants: If a utility company in Mn. is going to discontinue it's supply of services such as heating oil or electricity, it must notify all the residents in the affected buildings.
2011 Health Care Reform: A couple of new things that take affect in 2011 with the new health care reform is rules for flex spending accounts and co-payments and deductibles for preventive medical services. A lot of the rest of it I don't really understand and I don't think I'm alone in that either. Check with your health care provider to find out exactly how you will be affected by these changes, as most of us will be affected in some way.
California penalizes parents for children's school absences: The state of California can slap parents with a fine of $2000.00 and up to a year prison sentence if their child in grades k-8 misses more than 10% of the school year without a valid accuse.
California law prevents evictions: If a tenant is a victim of domestic or sexual abuse or stalking, a landlord doesn't have the right to evict that tenant. I wonder just how many problems this new law is going to cause. There will have to a lot of trying to prove that abuse on the tenants part, I would think.
For more information on these or any of the hundreds of other new laws that take affect as we ring in 2011, check with your state law library or a federal law library as to exactly how some of these new laws may affect you.
Sources: 2011 Calif. laws
kttc.com/ new Mn. laws/12/30/2010
Kare 11.com/Take Kare of your health/1/1/2011
hubpages.com/hub/New Federal Income Tax Laws
Published by Shirley Norling
I'm semi retired, living in East Central Mn. with my husband. We have 2 sons and 4 grandsons. Writing has been a hobby of mine for years and finally I now have the time to pursue it. After my sons completed... View profile
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2 Comments
Post a CommentThanks Shirley!
TN is tough on drunk drivers. Hawaii just put the same law into effect.