Well I must say these people had great tax planning! See the article in Accounting Today By Michael Cohn:http://www.accountingtoday.com/news/High-Income-Taxpayers-Income-Tax-Liability-62801-1.html?ET=webcpa:e2558:204199a:&st=emailA comment at the end of the article raised an interesting point. In 2009 over 400,000 less fiilers had income over $200,000 than 2008. That is more disturbing than the fact a small percentage of 4 million of these filers paid no tax.Remember, You can count on us to count for you!
House Wants to Settle Bush Tax Cut Extension by August
Hey, someone in Congress doesn’t want to wait untill December to try and extend the Bush Tax Cuts. The problem is the Republicans want to extend all of them, the Democrats (at least in the House of Representatives) want to extend them for incomes under 1 Million dollars and the President wants to extend them for incomes under $250,000. This shouldn’t take long to sort out (should it?) Here is the article in Accounting Today that discusses the new ‘agreement’ :http://www.accountingtoday.com/news/House-Plans-Vote-Tax-Cut-Extension-62792-1.html?ET=webcpa:e2554:204199a:&st=email&utm_source=editorial&utm_medium=email&utm_campaign=WebCPA_Daily_053012I am sure everything will be settled in August like they say (or November, or December……)Remember, You can count on us to count for you!
Help Your Kids Plan for Retirement
The key to your children having a secure and rich retirment starts when they graduate high school or college. It is important to save consistently and start early. See this article in the Wall Street Journal by CAROLYN T. GEER:http://online.wsj.com/article/SB10001424052702304019404577418623865572852.htmlCompounding your money works better the sooner you start, but it is never too late.Remember, You can count on us to count for you!