Hi everyone:The last few days have been hectic, what with getting ready for the holidays (still decorating the house; I got to get all the boxes down from the top of the garage then lug them into the house; you know the drill. Bought our Christmas tree in the pouring rain from a guy who didn’t really want to take his stupid wooden stand off and put ours on, but it actually is a nice tree.) and moving into my new office, so no time for posts. The move to the office was actually not that big a deal – I needed an office on my floor with a little more space for an additional desk because I am going to be working with a lady with a tax preparation office in Montebello and she needs a place to work when she come up here – so for about $150 a month more I got a little more room plus a window (wow!) and so I had to move my furniture across the hall into my new office. Mark the floor manager was going to help me with the furniture, but I got in the office around 7:30 Monday morning, [...]
Brians’s Tax Musings
Well the tax bill has been signed and everything is great (except the deficit). Some of the items that passed:Tax rates, child credit of $1000 per kid, earned income credit, college tuition credit, dividend and capital gains rates all extended. The estate exclusion is $5000000 per person and the maximum estate tax is 35%. This is all extended for 2 years. 13 months of unemployment added. In 2011 a social security tax reduction of 2% for employees only (I don’t know if this will reduce self employment tax by 2% also, but I would assume so – still waiting to find out. If not, it may pay to incorporate a small business.) Look at the link below to see more:http://abcnews.go.com/Business/Politics/paycheck-obama-tax-cut-extension-means/story?id=12423601&tqkw=&tqshow=WN
Brian’s Tax Musings
Well, it happened! The House passed the Tax Cut Bill, so Obama should sign it today. In a later blog I will try to go over the main points and what you can expect. The Drama is over! Not really – not in Washington. Just on to the next exciting episode.