Remember the "firm pledge" candidate Obama made on taxes? He stated that he would not raise the taxes on any family making less than $250k a year. It is in the video below and that pledge was a big reason a lot of independents voted for him instead of his mamby-pamby opponent.
The problem is that it all turned out to be a lie. I wrote in "Lies and the "Cash-Flow" Trick" how the Congress has quietly changed the withholding tables to impact pretty much everyone from the minimum wager earner up. The impact will prove dramatic on your tax situation. But that was only the beginning, according to the recent WSJ article, "The New Year Brings Tax Chaos."
The 2010 year will be one of great surprises as the AMT hits families making $75k and those deductions that have been around for decades suddenly disappear and impact individuals and families making a lot less.
The year 2010 still remains a great year to die from an estate tax standpoint. And if your drawing or about to draw Social Security or Medicare, the government would appreciate it, if you would check out of the net sooner not later. Beginning 2011 and after, it doesn't matter what tax strategy you use, the government is going to get a piece of your estate when you die.
The year 2010 still remains a great year to die from an estate tax standpoint. And if your drawing or about to draw Social Security or Medicare, the government would appreciate it, if you would check out of the net sooner not later. Beginning 2011 and after, it doesn't matter what tax strategy you use, the government is going to get a piece of your estate when you die.
Unchanged though is the reality, your taxes are going up in a bunch of different ways. President Obama's "firm pledge" turned out to be but one more lie.
You racist honky! Our Prisidint just wanns too make shur that the purr peeple have jobs to. Thats Y I am going to wurk nxt weak for them and makin $75000 a yere. I luve my Prisidint!!!!
ReplyDeleteHey Honkee! Not gonna take that guvment job with the Army. They have a batter one with les wurk and more beniefets. Sorry bout not spellin Honkee rite befor. U batter luv the Prisidint or we will nok on yur door! signed anonymus
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