Just posted a tip on my website about section 105 medical reimbursement plans. A good way to take a medical deduction you may or may not get on your itemized deductions. Check it out on www.briantstonercpa.com under tax and financial tips.
Nothing new that I can see on extending the Bush Tax Cuts. Three weeks to go before they expire. Will they be extended in exchange for an extension of unemployment compensation? Tune in to our next thrilling episode (or 2 or 3 or more) to find out!
The 2% reduction in the social security payroll tax (as opposed to the $400 or $800 making work pay credit) makes this a middle class tax savings that Obama should be able to sell, but what does it do long term for social security stability. Still think in the future there will be some messing around with the age when you can get full benefits. The payroll tax savings will only be for one year. Is there more to come. We shall see.