12 smart year-end tax moves

With so much still up in the air about tax changes come January, it's vital to ensure that that you close out 2012 protecting your finances from the tax man.

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VIDEO ON MSN MONEY

135Comments
Dec 7, 2012 10:35PM
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IT'S FUNNY THE DEMOCRATS AND LEFT WING MEDIA PROPAGANDA MACHINE IS HARD AT WORK TELLING PEOPLE IT'S THE

REPUBLICANS WHO ARE GONNA LET TAXES GO UP BUT IT'S OBAMA AND THE DEMOCRATS WHO ARE SAYING THEY WANT

MORE TAXES AND REVENUE! THEY ARE SAYING THEY WANT HIGHER TAXES AND MORE SPENDING AND STIMULUS WITH

NO DEBT CEILING AND NO BUDGET! WHAT MORON CAN'T SEE IT'S OBAMA DOING ALL THIS?

Dec 8, 2012 10:04AM
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It will be interesting to see how the lierals react when they see taxes go up on them, when they are thinking it will only hurt the extreme wealthy...............?
Dec 10, 2012 10:25AM
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here is the deal.. It is plan and very simple..

 

WRITE YOUR CONGESS PEOPLE.. TELL THEM YOU WANT THE FAIR TAX ACT..

 

Look it up for the ones who don't know what it is..

 

but it will do away with pay roll taxes, the irs.. and every one  including the 12 million illegals in this country will have to pay their FAIR SHARE?

 

i MEAN REALLY?????

Dec 10, 2012 9:25AM
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Anyone over a $million/yr should pay the same 48% of income like me. As a small business owner with no preferred status, and income less than 200k, I have to pay in 10k of Tax an FICA for every 20k I bill.   Lets screw the Single White American that is building a business !   

 ( BTW, No money to return to school either, because I own a home.. ) If you have any money in the bank you receive NO finical aid. How are we supposed to educate the work force ? It forces you into the system and recruits from the high risk sample.

 

Dec 7, 2012 9:29PM
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Smart move, tell obozo to pound didrt, everyone should stop paying taxes and see how far they go when the people say, We are the government and not the elite who think they are above the law, fire all of them and start over with people who believe the Constitution is the law of the land and not the dictator obozo or the Supreme idiots or the so called Representatives, it's a immoral bunch of liars and the trutly rich who need more plantation slaves.
Dec 10, 2012 10:04AM
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we are now at 48 million on welfare, new high...do they think it's a video game and the high score wins?
Dec 10, 2012 7:29PM
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Sounds like a dam dance.  Let's face it.  If you are a working person, you are screwed.  If you don't work or won't work, you'll be fine.  Your way is paid.  I will never understand why more than 300 million people in America allows 535 clowns in Washington D, C. to tell them every move to make.
Dec 7, 2012 10:29PM
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Obamanomics, mmmm, mmm, mmm.

 

How stupid you are for wanting such a burden in our lives.

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Beno1961  wHAT WOULD happen if everyone..filed their taxes...but withheld any monies..until a balanced budget was passes by the House and Senate, and signed by the President...I wonder ...
Dec 15, 2012 2:04PM
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For those who have not thought of it, Obama is working on getting the house under Democratic control for his last two years so he can make the changes and get the programs he wants.  He is trying to make the Republicans look so bad they will be voted out and replaced with Democrats in two years.  That is why he is still in campaign mode and preaching his message to the public so he can get what he wants in the next house of representatives election.

It looks like those who work for a living are now out numbered by those who vote for a living.

Give the 12 million illegals the right to vote and we will only have one party in power - the Democrats which will be a gigantic give away and the beginning of the end for America as we know it.
Dec 10, 2012 12:03PM
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"Stocks up as Italian leader quits"


Just think what they would do if Obama quit!!!!!!!!

Dec 8, 2012 9:35AM
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I'd like to help. I am open to accepting financial gifts in order for you to decrease your tax liability. You'd also gain a friend for life. Think about it.
Dec 7, 2012 11:40PM
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Every year it is the same deal, no matter who the President is. I'm sick of it. Because congress drags their feet on these issues, or they do not care, I have to deal with angry clients. By the way, it is way too late to adjust your withholding on the W-4. It can take a month or more before the changes take affect for the upcoming filing season.
Dec 20, 2012 10:03AM
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I Love my country! I hate my government. Paying taxes is like giving money to an irresponsible child and saying take care of me. What's wrong with this government,we can no longer afford its size. Back in the 60's there were 8 tax payers for every 1 government employee today it is 5 tax payers for every 1 government employee, we can not keep at this rate. Obozo (like that one) is adding 15,000 new IRS agents to maintain the new health care law. When does it stop!  
Dec 20, 2012 8:05AM
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we are loosing our freedom and we have lost our independence, our rights are being shrunk and our corporations have our families working dark to dark, and our kids are being raised by the government.

Now they want to take more of our money, It is time for people start taking interest and making their way for governors of each state and break away from the united states and claim our independence back.

Dec 20, 2012 11:50AM
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I think its time to stop all welfare payments, food stamps, government workers paychecks (including president, senate and congress)  until a decision is reached. 

 

Then  once one is reached a new welfare reform should be put into place.  This would help decrease the deficit, including mandatory drug testing for all recipients.   Then form a welfare task force to check homes of recipients to make sure they own nothing, and that there are no additional working people (ex: live in boyfriends, etc...) in the homes.  Next, those who still qualify would be put to work cleaning highways, government buildings, picking up trash and working in childcare to take care of those who are working and on welfare. 

 

Next a mandatory 15% pay decrease to all government workers.  This would weed out who really wants to work for the people.  All gifts, donations etc.. to president, congress and senate are made illegal.  And, their co-pays for insurance are doubled.  No bonuses, no perks, no trips, nothing.  No parties at the whitehouse canceled, no personal chefs, let them cook for themselves.  No more traveling on our expense, they need to fly to hawaii on there own buck. 

 

And finally, a sliding scale for big corporation CEO's that their salary be in check to the salary that they are paying their employee's.  If not huge tax penalties would be imposed on their corporations.  Also, that they employee at least 75% of their workforce here in the USA or they would be severely taxed on their product.  And  all imported products would have a major import tax.  It is time to make US products more affordable than the made in Taiwan crap people purchase.

 

Just sayin it might work for us.

 

Dec 20, 2012 8:00AM
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It's also interesting how this story wants to show you how to pay the least in taxes and yet when the evil rich use everything at their disposal acording to the law to pay the least taxes your president is blaming them for the economy because they are not paying enuff taxes...your nothing but a F.............hypocrite!!
Dec 8, 2012 1:54PM
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Please take note that you don't need to have an income of $250,000 to justify a Roth IRA conversion. Why? The conversion may very well boost your TOTAL income into this range. Also, the higher additional taxes could be as high 8.3% - not 3.8% - if Obama gets his tax rate increase from 35% to 39.5% for the top earners.

An alternative strategy is to do a partial conversion that brings your total income just up to, and not over, the $250,000 threshold. Repeat this every year until the entire conversion is complete. The downside of this approach is that gains in the conventional IRA before converting are taxable. On the other hand, there may not be much in the way of gains under Obamanomics.

Dec 10, 2012 12:06PM
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I will clear just under $60,000.00 this year. I have netted $33,000.00 you tell me where the justice is in that!!! The Wealthy need to pay there share too.
Dec 20, 2012 10:00AM
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All you left wing do-gooders better not use any of these legal tax loopholes to lower your personal debt to your Savior and Lord n0bama. Oh wait....over half of those that voted for him don't work anyways...oh hell, just make sure Lord n0bama has your correct mailing address so your goodie checks can continue to arrive. My bad.
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