This one isn’t going down without a fight. After Democrats in Congress publicly defied President Obama by refusing to endorse the tax deal he negotiated with Republicans, the measure is going to another vote. On Monday, the Senate will take up a procedural vote to attempt to bring the deal to the floor. In response,…
A lot has happened in the tax world over the past 24 hours. I’m working on a comprehensive article about the new tax bill. In the interim, you can catch some of the highlights in this piece I did for AOL’s WalletPop.
Earlier this morning I received an email from a reader who confessed that they really weren’t sure how the Bush tax cuts would affect them and wondered if I could give a quick summary of what all of this really means for taxpayers. It’s an excellent question and I’m on it… Check back later in…
My daughter hates to do her chores. Last week, she got it into her head that it wasn’t fair that she had to set the table so she decided that she wasn’t going to do anything else until we gave her a better job. A few minutes of sitting in time out changed her mind…
Democratic leaders met this week to talk turkey and decided on two things: A vote on the Bush tax cuts won’t happen until after Thanksgiving; and The Bush tax cuts will be extended for those making $250,000 or less. And that’s all we have. That means there’s a lot, obviously, that we don’t know. Here…
Nothing is quite so exciting as a lame duck Congress. And I mean that in the most snarky, sarcastic, rolling of my eyes kind of way. For the next month and a half (okay, a month on account of the holidays), expect to be bombarded by lots of reports about what could happen. Here’s what…
As a parent, I spend a lot of time waiting. I have watched my son eat a peanut butter and jelly sandwich for an hour. Just this morning, my six year old took over ten minutes to change a pair of shoes (slip ons). And my eight year old, book in front of her face,…
So, none of us have a crystal ball but earlier this week, I made some predictions about potential tax changes in the new year. I touched on federal estate tax repeal, capital gains rates, oil and gas company tax breaks, increased income tax rates and the expiration of the Making Work Credit. Later in the…
But don’t get too excited. It’s totally lame – again. You see, when it comes to the AMT (alternative minimum tax), Congress has no answer. So every year – without fail – at the very, very end of the year, Congress gives us a band aid in the form of temporary relief. Don’t believe me?…
According to most post election polls, voters cited the economy as the #1 factor in influencing votes – more than health care, more than abortion, more than homeland security, more than immigration, more than education. This makes me wonder: what influenced your vote this year? If it was the economy, were taxes a factor? Or…