Tax Increases Looming in 2013: Who Pays, How Much and Will They Stick?

Over lunch, the day after the election, my husband brought up the “f” word. You know, the one I’ve thus far been refusing to say (hint: it rhymes with “biscal piff”). He had been reading the news and was wondering how badly this would affect us. I could barely choke down my broccoli as he read an article touting the end of the world as we know it. It wasn’t the last time I would hear that commentary this week. I received a number of emails, calls and yes, even Skype messages, passing along articles, links and tidbits about the …

Obama Wins Four More Years, Congress Moves Little

Wow, all that coffee tonight and I didn’t even need to stay up very late! Almost all of the major networks and media have called the race for President Barack Obama. It appears that the Senate will be controlled by the Democrats and the House will be controlled by the House (as predicted). So, what’s next for Rep. Pelosi? House Speaker Boehner? Will there be a budget this year? Tax cuts? Repeal of the estate tax? Does the Medicare tax stick around? I’ll be picking apart the financial and tax issues tomorrow. I hope you’ll stop by. — Want more …

Did The Debates Offer Enough ‘Hope and Change’ for the Obama/Biden Ticket?

After the first (and only) Vice Presidential debate, I noted that two minutes wasn’t a lot of time to talk about taxes. It is, as I said, what makes debates both fun and frustrating. The vice presidential debate did not disappoint on that scale. Following the debate, the talk was partly about Sen. Ryan’s surprising lack of specifics on his tax plan (he is, as I have noted, a numbers guy) and partly about Vice President Biden’s – let’s call it “lively” – behavior. Some voters embraced what they saw as the Vice President showing some spark after the President’s …

Ask the taxgirl: “Real Estate Tax” In Health Care Law?

Taxpayer asks: Please tell me this isn’t so…..Under the new health care bill, all real estate transactions will be subject to a 3.8 % sales tax. This new tax is supposed to kick in 2013. taxgirl says: I’ve gotten a few questions about this so-called “real estate tax” lately. Concern about the “tax” has escalated due to a chain email making the rounds. The email, which has a few variations, looks more or less like this: This should help stimulate the real estate market! Under the new health care bill, did you know that all real estate transactions are subject …