Well, the Democrats have come up with their tax plan. Overall, it’s not too bad (I like the idea of making lawyers and accountants pay into Social Security) but there’s an area that bugzs me. According to this article I found on Bloomberg, the plan calls for a surtax of 4%+ on “wealthy” families. Their [...]
Today’s WSJ contained the following letter to the editor: Your June 14 editorial “100% Marginal Tax Rate” caught my eye, as that reality is, in effect, already here for us. Two years ago I came to the conclusion that it was actually costing me money to go to work. As a two-physician couple with two [...]
Homework assignment: Read Democrats Seek Formula to Blunt AMT From to the article: House Democrats looking to spare millions of middle-class families from the expensive bite of the alternative minimum tax are considering adding a surcharge of 4 percent or more to the tax bills of the nation’s wealthiest households. Under one version of the [...]
Find out for sure by using the IRS 2006 AMT Assistant. I used it and it works great and is very easy to use. Here’s some other interesting articles I found regarding the AMT: Tax Timing – Want to avoid the AMT? Make sure you time your financial decisions right [MarketWatch] Guide to the AMT [...]
Today’s Wall Street Journal had an article titled What the Tax Bill Means for Your Return. Here’s some of the highlights of the new tax bill that should be signed into law later this week:
Jeff Opdyke of the Wall Street Journal wrote an article titled Roth 401(k) Picks up Steam, which details the fact that the Roth 401(k) is now being offered by GM.
Every year more and more taxpayers are getting slapped with the Alternative Minimum Tax. Until Congress does something about it, the problem will only get worse. The IRS now has a tool to help you find out whether or not you will be affected by the AMT. I just went through the program (we don’t [...]