Income Taxes

The Fiscal Cliff Deal & Your Taxes

THE FISCAL CLIFF DEAL & YOUR TAXES  What will change (and won’t change) as a result of the new legislation.   Several tax hikes, some tax breaks. Now that the fiscal cliff deal assembled in Congress is becoming law, it is time to look at some of the tax law changes that will result. Here are the major details in the bill, which will bring significant tax hikes to some households in an effort to increase federal revenues by $600 [...]

By |2017-03-28T08:17:31-04:00January 11th, 2013|Business/Economic News, Income Taxes, Personal Finance|Comments Off on The Fiscal Cliff Deal & Your Taxes

The Big Tax Questions of 2013

THE BIG TAX QUESTIONS OF 2013 How will Congress resolve these issues? Decisions must be made. In the next couple of months, Congress will address several major tax matters. Here are the big questions looming. The Bush-era income tax cuts. Will the current 10%-15%-25%-28%-33%-35% federal tax rate structure give way to 15%-28%-31%-36%-39.6% tax brackets in 2013? After the election, some analysts feel a compromise will be struck to maintain some of the Bush-era cuts for another year. In 2013, you may [...]

By |2017-03-28T08:17:32-04:00November 15th, 2012|Business/Economic News, Income Taxes|Comments Off on The Big Tax Questions of 2013

Tips for Minimizing Taxes in 2012 & Beyond

TIPS FOR MINIMIZING YOUR TAXES IN 2012 & BEYOND You may want to exploit these strategic opportunities. Will the Bush-era tax cuts expire next year? We may not have an answer to that question for several months. After the November elections, you could see them extended once again. Nothing is certain: with the daunting financing challenges the federal government faces, they may finally expire in 2013. If your goal is tax minimization, here are the “to-dos” you might want to [...]

By |2017-03-28T08:17:32-04:00August 30th, 2012|Income Taxes, Personal Finance|Comments Off on Tips for Minimizing Taxes in 2012 & Beyond

Can We Avert the “Fiscal Cliff”?

CAN WE AVERT THE “FISCAL CLIFF”? 2013 isn’t far off, yet both sides of Congress could end up far apart. Recently, you may have heard about the “looming fiscal cliff”, the “coming fiscal cliff” and so forth. What exactly is it? Briefly stated, the “fiscal cliff” is a potential $7 trillion dilemma facing Congress this fall – a Congress not known for ready cooperation. If America goes over it, our economy could stumble.1 Will Congress act before 2013? Federal Reserve [...]

By |2017-03-28T08:17:33-04:00August 9th, 2012|Business/Economic News, Income Taxes|Comments Off on Can We Avert the “Fiscal Cliff”?

Getting off on the Right Foot in 2012: Income Taxes

Wealthy Americans are set to face greater income tax burdens in 2013, so 2012 may be the last year to take advantage of certain factors. For example, the top tax bracket in 2013 is slated to be at 39.6% instead of the current 35%. This year, capital gains and dividends will be taxed at 15% or less for everyone, 0% for those in the 10% and 15% tax brackets. In 2013, the qualified capital gains tax rate is scheduled to [...]

By |2017-03-28T08:17:34-04:00February 14th, 2012|Income Taxes|Comments Off on Getting off on the Right Foot in 2012: Income Taxes
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