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2012 Surviving Spouse May Have Two Reasons To Increase 2012 Taxable Income
Taxes (Photo credit: Tax Credits) By now most of you should be aware that income tax rates are set to go up next year. Unless the law is changed, middle and upper income taxpayers will pay...
View ArticleHOLIDAY PRESENT: DECEMBER DIVIDENDS
The tax on qualified dividends is set to go up from a capital gains rate of 15% in 2012 to an ordinary income tax rate of as high as 39.6%, more than 2.6 times the 2012 rate. With interest income so...
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What Could Mitt Romney’s Pre-2010 Filings Tell Us?
Hopefully, the release of Romney’s tax and reporting information for several years prior to 2010 would confirm what we already know. That is, Romney is a rich guy who is taxed at a low rate because of...
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Taxation of Olympic Medals & Awards: The Insult May Not Be What You Think
English: Gold medal. (Photo credit: Wikipedia) Recent stories highlighting the taxation of Olympic Medals and prize money is another example of how pervasive our income tax system is. Unless an item...
View ArticleLet’s Hear it for the Speechwriters
When you hear a speech, is someone trying to inform you or influence you? In politics, much of the time it is more the latter. Basic public speaking tools are deployed in an effort to get you to do...
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What Did We Get for $5 Trillion More in Debt?
The National Debt Clock, a billboard-size digital display showing the increasing US debt, near an office of the Internal Revenue Service (IRS)on Sixth Avenue. With political punches being thrown from...
View ArticleNo AMT Promises
Here we are in November and just before the holidays, and many Americans still don’t know whether they will owe thousands of dollars more of income taxes for 2012 (yes, 2012) because Congress has not...
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The Fiscal Cliff: Middle Class Tax Cut Should Be the First Sign of Cooperation
Congress and the President have a great opportunity to show they can constructively help our economy and manage revenue and spending so as to control federal debt. I am optimistic the Democrats and...
View ArticleFiscal Cliff Politics
President Obama has made the initial proposal regarding an alternative to the Fiscal Cliff. His proposal is consistent with his campaign positions prior to his reelection, primarily not to increase...
View ArticleCongress: Fiscal Cliff Drama Unnecessary
What is the rush? If automatic changes that represent the fiscal cliff go into effect January 1st, Congress can address the fiscal cliff early next year and pass retroactive legislation. After all, we...
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Fiscal Cliff Deferred, Tax Legislation Is only Part of the Equation
Like reality TV, we saw the politics and negotiation of an alternative to the fiscal cliff play out over the past several weeks. Unfortunately, we were all included in this show. Although the...
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Phil Mickelson: Is Moving From California a Mistake? Actually, He Should Have...
I am okay with Phil Mickelson moving from California to another state. We are not talking about a citizen or resident becoming an expatriate and moving to Russia, Singapore or some other country. While...
View ArticleTreating Federal Tax Benefits Like Budget Items: Where Can We Cut Tax...
If you read my articles you already know that in addition to annual spending of over $3.5 trillion dollars, the federal government doles out more than another $1 trillion dollars each year in the form...
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