•Obama and Congressional Democrats have said that they want to raise US Income tax in the top two income tax rates in January 2011. Under their plan, the 33 percent rate will rise to 36 percent, and the 35 percent rate will rise to 39.6 percent automatically in January. These rates affect families and smallRead more about Small Business and Higher Taxes -Obama[…]
I contend that for a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle. — Winston Churchill
With Congress stuck in tax gridlock, even simple tax legislation is bogged down…Taxpayers trying to figure out their tax planning for this year and beyond is perplexing. Are tax rates definitely rising in 2011? No. President Obama’s plan to end the Bush tax cuts for higher income filers is not a slam dunk to pass.Recently,Read more about Congress stuck in tax gridlock[…]
Two more Senate Democrats called for extending tax cuts for all earners—including those with the highest incomes—in what appears to be a breakdown of the party’s consensus on the how to handle the expiration of Bush-era tax cuts.
Obamacare There are over twenty new or higher taxes in Obamacare. Several will first go into effect on January 1, 2011. They include: When Americans prepare to file their tax returns in January of 2011, they’ll be in for a nasty surprise—the AMT won’t be held harmless, and many tax relief provisions will have expired. Read more about Alternative Minimum Tax[…]
Tax Foundation Report Shows Harmful Effects of Higher Dividend Tax Rates Report Shows Harmful Effects of Higher Dividend Tax Rates Higher U.S. Dividend Tax Rate Resulting from Expiration of Bush Tax Cuts, Health Care Reform Would Put U.S. Rate at 68 Percent, Highest Among Industrialized Countries The expiration of the Bush tax cuts andRead more about US Tax Rate of 68% is Highest amongst Industrialized Countries[…]
Wait until you meet the new and not improved Internal Revenue Service created by ObamaCare. With ObamaCare, the IRS is now responsible for “the most extensive social benefit program the IRS has been asked to implement in history.” And without sufficient new funding it won’t be able to discharge these new duties. That wouldn’t beRead more about Obamacare and the IRS[…]
This week, the death of George Steinbrenner rekindled discussions about the federal estate tax. As you may be aware, there is no federal estate tax for 2010. However, assuming that Congress doesn’t take action, next year the federal estate tax returns with a personal exemption of $1 million and a flat rate of 55%. UnderRead more about Estate Tax[…]